Friday’s trend up was followed by a balanced distribution today and the market went two-time-frame again. We got a neutral day and an FA at 7606.
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 balanced today and the auction went from imbalance back to balance.
#) Vwap of the session was at 7579 with volumes of 93.6 L in a session which traded a 7606-7551 range of 55 points
#) Day POC was at 7566 levels
#) We got an FA registered at 7606 today
#) Supply overhead is prominent at 7623 and 7684-99 above.
#) we identify a gap lower at 7746 F Feb.
#) Value areas are at 7590-7566-7560– 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 trend is going sideways now.
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 did not see new buying above Friday highs and trended lower into the close
#) vwap of the session was at 15448 with volumes of 30.2 L in a session which traded a 15605-15322 range of 283 points
#) day POC was at 15420 levels
#) Value areas are at 15520-15440-15394 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)