Evening report trade dated 02nd March

Value got created upwards today and even though there were signs of profit booking in long positions, the MarketProfile structure is not supportive of short positions being opened here. We had poor highs today and the dip buyers who showed up on that one dip to 7325 mid afternoon today, confirm that the trend has a little more space to run up to.





Background / Previous Auctions :

Weekly levels: We have done a review on weekly charts at:   http://vtrender.com/nifty-bn-weekly-view-spot-for-29-feb-04-mar16/

#) The NF was an NV day

#) Vwap of the session was at 7343 with volumes of 167.6 L in a session which traded a 7370-7302 range of 67 points

#) Day POC was at 7362 levels

#) The singles from 6825 spot are confirming a change in short term trend. We look forward to a visit to 7410 spot for the next round.

#) Value areas are at  7368-7362-7333– for the session tomorrow. For using value areas effectively visit:http://vtrender.com/popular-market-profile-trading-setups/

#) Discl – When we mention Buyers/ Sellers we point to and infer aggressive players.



K.R.A is 7135 Mar F ( K.R.A= key reference area) 

and the trend is upwards





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-29-feb-04-mar16/

(based on Fut prices)

#) The BNF was a NV day

#) vwap of the session was at 14987 with volumes of 53.4 L in a session which traded a 15155-14701 range of 455 points

#) day POC was at 15000 levels 

#) The path of the auction above 14670 should be towards the 15100- 15200 zone. We spoke about the 15200- 13400 zone in this post : http://vtrender.com/nifty-and-banknifty-in-2015-and-lookahead-2016/ and a faster retracement sets up an exciting opportunity ahead.

#) Value areas are at 15120-15000-14931 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/


K.R.A is 14150  Mar F  ( K.R.A= key reference area)

and the trend is upwards.