The 3 day range the NF finds itself is not yet a complete bell curve . Whilst sellers mount up pressure at 7850 F the HVN at 7661 F is keeping the auction bound for now.
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-14-sept-18-sept15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) The NF was an ORR open and finished near session lows
#) vwap of the day was at 7815 with volume of 134.9 L in a trade which worked a 7878-7760 range of 118 points
#) Day POC was also at 7800 levels and centered.
#) The open of friday attempted to cross over the spike highs of thursday in the IB but once IB was done it moved lower.
#) The auction does shows the presence of a responsive seller who is selling the higher prices.
#) The OrderFlow shows selling above 7835 levels .
#) FA point of 7961 on 01/09 is the short term Bias point for the auctions
#) Gap between profiles is 7944- 7961.
#) Weekly Auction shows a balance between 7875 and 7685 and we should see more volatility in this range.
#) Value areas are at 7836-7794-7793– 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 7865 ( K.R.A= key reference area)
Hypo 1) If NF auctions above 7824 then it could move to 7865 and 7958. Sl for this view 7793
Hypo 2) If NF auctions below 7745 it could move to 7704 and 7679 . Sl for this view is 7795
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-14-sept-18-sept15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) The BNF profile was majorly in the spike zone of thursday but did not manage to stay above spike highs
#) vwap was at 16652 with volumes of 37.4 L in a trade which worked a 16798-16510 range of 289 points.
#) day POC was at 16600 levels
#)OrderFlow shows buying at the lows for the fourth straight session
#) Gap between profiles is 17025- 17090.
#) Value areas are at 16704-16560-16549 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 16796 ( K.R.A= key reference area)
Hypo 1) If BNF auctions above 16699 then it could move to 16796 and 16994 .Sl for this view is 16599
Hypo 2) If BNF auctions below 16503 then it could attempt to move to 16403 and 16313. Sl for this view is 16615
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.