Another day and another neutral profile. This one was more balanced today and closed at vwap. It’s a 2-way zone now and profile continues to suggest a lower bias but the short term is balancing again.
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 another neutral day and the day closed at vwap
#) Vwap of the session was at 7431 with volumes of 130.2 L in a session which traded a 7478-7377 range of 101 points
#) Day POC was at 7422 levels
#) The FA registered at 7606 is on day T+3.
#) we saw 2 buyers at 7444 and 7512 in the leadup to 7607 and both under water for now this series
#) In the auction of today we attempted to move above the spike lows but the move was cut short even before it hit the previous bracket highs of 7495.
#) Further confirmation of new selling in the index will be if the weekly closes below 7310. Till then we are treating it as a broad 7350- 7550 range.
#) We have entered into a 7400 straddle to play out this range.
#) Value areas are at 7446-7422-7410– 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 a neutral day though not of the textbook kind.
#) vwap of the session was at 14936 with volumes of 31.6 L in a session which traded a 15077-14787 range of 289 points
#) day POC was at 14965 levels
#) Spike at 15260-15056 was not covered in the auction of today
#) we see the index having support at 14777 low marked today but below that could signal a fresh impulse to 13950/ 13180
#) Value areas are at 15010-14965-14885 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)