The NF and the BNF were mostly inside today, saw buying at the lows and sellers climbed into higher prices at the close. Larger profiles are pointing to an extended sideways zone in the new range
Nifty Sept F :
Background / Previous Auctions :
Weekly levels : We have done a review on weekly charts at : http://vtrender.com/nifty-bn-weekly-view-spot-for-31aug-04-sept15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) The NF stayed over yesterday’s spike highs and auctioned higher into the close.
#) vwap of the day was at 7819 with volume of 122.9 L in a trade which worked a 7869-7759 range of 110 points
#) Day POC was centered and again at 7810 levels for the third straight day reconfirming the balance underway
#) TheOrderFlow shows sellers at the close who sold into the higher prices
#) we auctioned below the FA point of 7961 on 01/09 changing the bias
#) Anomalies at 7905 remains. Gap between profiles is 7944- 7961.
#) Larger Auction now shows 7643 as weekly support and we believe dips to this point will be used to build positions for 7950 again
#) Value areas are at 7839-7812-7779– 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 Sept F)
K.R.A is 7726 ( K.R.A= key reference area)
Hypo 1) If NF auctions above 7883 then it could move to 7922 and 7944 . Sl for this view 7841.
Hypo 2) If NF auctions below 7810 it could move to 7771 and 7743. Sl for this view is 7859
BankNifty Sept 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-31aug-04-sept15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) The BNF profile trended higher from yesterday’s POC
#) vwap was at 16507 with volumes of 40.9 L in trade which worked a 16630-16305 range of 325 points.
#) day POC was in the upper half and at 16570 levels
#) We saw buyers at the lows but supportive buying was missing as we moved higher.
#) The BNF profile is also now showing signs of formation of a balance here
#) Profile has anomalies at 16668, 16713, 16803.Gap between profiles is 17025- 17090.
#) Value areas are at 16605-16569-16479 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/
Hypothesis :
( Based on Sept Futures)
K.R.A is 16355 ( K.R.A= key reference area)
Hypo 1) If BNF auctions above 16680 then it could move to 16790 and 16845 .Sl for this view is 16580
Hypo 2) If BNF auctions below 16460 then it could attempt to move to 16350 . Sl for this view is 16565
All Hypos to be traded with the mentioned stops and mechanically. If in the trading room, can use the Order Flow to qualify the entry and exit for the hypos.
We take a few more trades based on the emerging Orderflow and the role of the Big players from our live charts. Visit the Trading Room Section for more.