RBI day saw 2 timeframes active in the market and a clash for control. The first dip down to 7516 was bought by old business on the Buy side. However, they were not able to push the auction above VAH on the midafternoon pullback. The renewed selling which followed that auction pushed the buyers at 7514 out and the auction finished in a spike at the day’s lows. It was a neutral extreme.
NIFTY FEB F:
Background / Previous Auctions :
Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-01-feb-05-feb16/
#) The NF was a neutral extreme day and the seller dominated towards the close
#) Vwap of the session was at 7547 with volumes of 152.2 L in a session which traded a 7594-7448 range of 146 points
#) Day POC was at 7560 levels
#) The FA registered at 7606 is on day T+1.
#) we identify a gap lower at 7746 F Feb.
#) Spike at 7542 – 7448 in the auction of today
#) Value areas are at 7572-7560-7518– for the session tomorrow. For using value areas effectively visit:http://vtrender.com/popular-market-profile-trading-setups/
K.R.A is 7444 Feb F ( K.R.A= key reference area)
and the seller is gaining control of the trend again.
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-01-feb-05-feb16/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The BNF was also a neutral extreme day with an FA at 15516.
#) vwap of the session was at 15317 with volumes of 48.7 L in a session which traded a 15516-15056 range of 460 points
#) day POC was at 15360 levels
#) Spike at 15260-15056 in the auction of today
#) Value areas are at 15440-15360-15232 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/
K.R.A is 15174 Feb F ( K.R.A= key reference area)