The IPM which started from 8004 has done 295 points so far and value is still pushing lower. We broke below 7764 F today in a spike putting 7624- 7650 F into play for the rest of this week. Yesterday’s VAL was rejected today and auction shows value lower. However spike rules apply at the Open tomorrow.
Nifty Dec F:
Background / Previous Auctions :
Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-07-dec-11-dec15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The NF was a Normal variation day and closed in a spike
#) Vwap of the session was at 7774 with volumes of 83.4 L in a session which traded a 7803-7711 range of 92 points
#) Day POC was at 7772 levels today
#) The Profile shows us an FA at 7949F and is on day T+3
#) we see a composite POC at 7984 in the profile chart posted above and the bias is lower below it.
#) Profile has finished in a spike and an open above spike lows can bring a visist to 7764- 7772 again. However an open below spike lows can bring 7650/ 7624
#) Value areas are at 7800-7772-7760– for the session tomorrow. For using value areas effectively visit:http://vtrender.com/popular-market-profile-trading-setups/
Hypothesis :
(based on Dec F)
K.R.A is 7894 ( K.R.A= key reference area)
Hypo1 ) If NF auctions above 7744 it could move to 7776 and 7827. SL for this view is 7708
Hypo 2) IF NF auctions below 7683 it could move to 7651 and 7624. Sl for this view is 7726
BankNifty Dec 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-07-dec-11-dec15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The BNF was a normal variation day
#) Vwap was at 16927 with volumes of 22.9 L in a session which traded a 17030-16831 range of 199 points
#) day POC was at 16908 levels lower than the previous session
#) OrderFlow again shows short-covering at the lows of the session today
#) We see 17227F as resistance on any pullback this week.
#) Value areas are at 16956-16908-16848 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/
Hypothesis :
( Based on Nov Futures)
K.R.A is 17228 ( K.R.A= key reference area)
Hypo1 ) IF BNF auctions above 16932 it could move to 17001 and 17166. Sl for this view is 16830.
Hypo 2) If BNF auctions below 16799 it could move to 16690 and 16640. SL for this view is 16890.
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.