We mentioned yesterday about the push back in the bracket and value went lower again today. The auction has the lows of 12/2 clearly in sight but we are looking for a further push down to close the series. It’s expiry plus the rail budget tomorrow and capital preservation will be the key mantra with a tight leash on any risk taken.
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-22-feb-26-feb16/
#) The NF developed value lower than the session on 23/02
#) Vwap of the session was at 7058 with volumes of 187.4 L in a session which traded a 7135-7008 range of 127 points
#) Day POC was at 7064 levels
#) The spike between 7434- 7375 remains a ref zone.
#) The FA at 7151 has been visited and the market closed below it.
#) Value areas are at 7088-7064-7040– for the session tomorrow. For using value areas effectively visit:http://vtrender.com/popular-market-profile-trading-setups/
K.R.A is 7320 Feb F ( K.R.A= key reference area)
and the trend has gone lower 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-22-feb-26-feb16/
(based on Fut prices)
#) The BNF was a normal distribution after the imbalance of the previous session
#) vwap of the session was at 13860 with volumes of 41.4 L in a session which traded a 13979-13752 range of 228 points
#) day POC was at 13848 levels
#) The excess at 14588 remains
#) Value areas are at 13920-13848-13800 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/–
K.R.A is 14625 Feb F ( K.R.A= key reference area)
and the trend has gone lower.