We had a 2-way auction on Monday. A higher open met with responsive sellers who pushed the auction down to the POC again before some buying came back into the market again.
Background / Previous Auctions :
Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-25-jan-29-jan16/
#) The NF moved on either side of the composite POC at 7440 and finally closed at same price as Friday last
#) Vwap of the session was at 7450 again with volumes of 144.3 L in a session which traded a 7484-7412 range of 72 points
#) Day POC was at 7458 levels
#) The Profile today again closed at the composite POC of the last few sessions
#) In trades today we saw our short 7400 ce hit our first target of 45. We are holding it for 26.
#) We identify 7430 zone with the big 150 point rise made last week with aggressive buying but now the same seems missing
#) However we identify the zone for a 2-way move and will keep 2 options open here for intra trades.
#) Value areas are at 7476-7458-7440– for the session tomorrow. For using value areas effectively visit:http://vtrender.com/popular-market-profile-trading-setups/
K.R.A is 7344 Jan F ( K.R.A= key reference area)
and the trend is going sideways now.
BankNifty Jan 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-25-jan-29-jan16/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The BNF was also a b shaped profile as shorts were seen entering at higher levels
#) vwap of the session was at 15550 with volumes of 30.2 L in a session which traded a 15681-15460 range of 221 points
#) day POC was at 7458 levels
#) In trades today, we shorted BNF Feb futures near the Open.
#) The BNF held the pull back lows of 15450 in trades today and is the only point which is a support now.
#) Value areas are at 15575-15565-15485 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/
K.R.A is 15160 JanF ( K.R.A= key reference area)