We got evidence in Friday’s Market that the IPM had slowed down and we could be going in a sideways market for the duration of the coming week. The range remains 7230- 7630 for this second stage
NIFTY MAR F:
Background / Previous Auctions :
Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-07-march-11march/
#) The NF was a Normal day
#) Vwap of the session was at 7433 with volumes of 118.1 L in a session which traded a 7480-7405 range of 74 points
#) Day POC was at 7407 levels
#) The singles from 6825 spot are confirming a change in short term trend. Support lies at 7230 spot. Crucial level at 7520
#) Value areas are at 7441-7426-7408– for the session tomorrow. For using value areas effectively visit:http://vtrender.com/popular-market-profile-trading-setups/
K.R.A is 7420 Mar F ( K.R.A= key reference area)
and the trend is upwards
Background/ Previous Auctions :
Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-07-march-11march/
(based on Fut prices)
#) The BNF was a DD day
#) vwap of the session was at 15174 with volumes of 45.3 L in a session which traded a 15451-14962 range of 489 points
#) day POC was at 15120 levels
#) Auction seems to be in Step2 of the Steidlmayer 4 step process.
#) we have seen a faster retracement and a close abv 15200 spot.
#) Value areas are at 15307-15120-14963 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/–
K.R.A is 15200 Mar F ( K.R.A= key reference area)
and the trend is upwards.