The NF closed in a spike today in a session which saw sellers come at the highs and dropped off quickly below 2 day lows. However OrderFlow showed buyers climbing back at the close.
Nifty Aug F :
Background / Previous Auctions :
Weekly levels : We have done a review on weekly charts at : http://vtrender.com/nifty-bn-weekly-view-spot-for-10-aug-14-aug15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) NF Profile showed a spike into the close . Spike rules apply at Open.
#) vwap of the day was at 8605 with volume of 92.1 L (More than the Previous session)
#) The Profile showed an auction in the upper distribution of thursday today but fell quickly when VAH was broken
#) Larger Auction looks trapped in a 130 point range between 8535F and 8662F
#) Some sellers were again seen near 8640 today but buyers came at 8520-35 zone.
#) Buying again was seen at 8336 , the same kind as the one we had noted back on 10/ 11 july.
#) Value areas are at 8626-8528-8518– for the session tomorrow. For using value areas effectively visit :http://vtrender.com/popular-market-profile-trading-setups/
#) Discl – When we mention Buyers/ Sellers we point to and infer aggressive players.
Hypothesis :
(based on Aug F)
K.R.A is 8567 ( K.R.A= key reference area)
Hypo 1) If NF auctions above 8567 then it could move to 8613 . Sl for this view 8533
Hypo 2) If NF auctions below 8535 it could move to 8503 and 8471. Sl for this view is 8569.
BankNifty Aug F :
Background/ Previous Auctions :
Weekly levels : For Banknifty we have updated a spot auction view with a chart at : http://vtrender.com/nifty-bn-weekly-view-spot-for-10-aug-14-aug15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) The BNF profile auctioned within the composite balance of the past few sessions
#) vwap was at 19067 with volumes of 25.5 L ( Less than the previous session)
#) Auction shows a poor high at 19149 in the traded session today
#) The auction closed in a spike and spike ruled apply at open.
#) A buying tail also visible at 18305
#) Value areas are at 19145-19100-19005 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/
Hypothesis :
( Based on Aug Futures)
K.R.A is 18980 ( K.R.A= key reference area)
Hypo 1) If BNF auctions above 18980 then it could move to 19065 and 19150 . Sl for this view is 18880.
Hypo 2) If BNF auctions below 18840 then it could attempt to move to 18770 . Sl for this view is 18955