The imbalance continued through Friday and the Nifty spot hit a range of 480 points which was the highest we saw after November 8, 2016. I’m sure a lot of you remember the events of those 24 hours around Nov 8 so we need not mention that again. But the range and the auction was a reminder of the panic around that day as traders were clueless on what could come next.
From a Market Profile and Order Flow point of view for Friday’s session, our charts picked up massive sell side pressure at 11222 later in the day and the transition volume at 11355-11360. Both are immediate sell side references for the duration of the current settlement. Whilst there was visible greens at the lows indicating short covering of old business one needs to see the presence of a tail at the lows as an indication of responsive activity than any new initiative buying. Thus higher levels on a bounce will continue to attract selling as the week rolls on.
A weekly outlook was updated on Saturday at –https://vtrender.com/weekly-outlook-for-the-week-dated-17th-sept-to-21st-sept/
Nifty Sept F:
Intraday and swing trading view for Nifty Futures below the chart. ( This chart is Live in the Vtrender Trading Room)
- The NF Open was an Open test of supply
- The day type was a Double distribution day
- Largest volume was traded at 11185 F today
- Vwap of the session was at 11185 with volumes of 213.2 L in a session which traded a High-Low range of 11385-11005 for 379 points
- FA seen at 11297 visited on day T+3. 2 ATR of the move at 11000.
Monthly Zones:
- The vwap of the Aug series is at 11444 spot and the POC was at 11480
- The settlement day (Aug ) rollover volume point is at 11739 F.
- Highest Rollover point was at 11772 Sept F
Weekly Zones :
- The weekly profile has a sell-side excess at 11490
- The weekly profile also had a minor selling excess at 11600Fin the week prior
- Failed auction zone is 11650F
- Another Failed auction is lower at 11297 ( visited T+3)
- The 11350 zone has active sellers and should meet more selling if price goes there
- The 11720- 11735 scene of crime zone is added supply above the FA point of 11650
- The FA at 11297 is a very important pivot for the next auction.
Daily Zones:
- Value zones ( volume profile) are at 11270-11185-11007 or tomorrow
Plan :
a) The immediate auction now has a support at 11125 and at 11040 below
c)supply at 11220 and 11320 for the auction on any upmoves
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BNF Sept F:
Intraday Trading strategies using OrderFlow analysis and MarketProfile done Live with a Live analysis in the Vtrender Trading Room
- The BNF Open was an Open auction
- The Day type was a Normal variation day
- Vwap of the day was at 25960 with Volumes of 75.1 L and a High – Low of 26710-25228 for a range of 1482 points.
- Largest Volume was traded at 26545 F today
Monthly Zones :
- The vwap of Aug series is at 27923 spot with POC of 28280
- The settlement day rollover volume point (aug) is at 28232 F.
- Highest Rollover point was at 28232 Sept F
Weekly Zones :
-
- Supply is heavy at 26540 and 27320 right above
- The 26330 F and 26000 F has also heavy sell side volumes
- support is at 25220
Daily Zones:
- Value zones ( volume profile) are at 26622-26540-25700 for tomorrow
Plan :
a) The 25800 zone has new supply
b) the 26320 zone has next supply
c) support is at 25400.
For more tradeable ideas and intraday trading strategies based on MarketProfile and the OrderFlow live charts with OrderFlow analysis Live, subscribe to the trading room. The Vtrender Trading Room hosts India’s largest MarketProfile community live every trading session from 9.15 am to 3.30 pm.
If not a Trading Room member you can get immediate access at – https://in.explara.com/e/vtrender–trading–room/checkout