Evening report trade dated 05th Jan

We got a balance today again after the imbalance seen yesterday. Both the NF and the BNF sported gaussian profiles at the close and point to another trending move.

 

 

Nf_Compo1 1

Background / Previous Auctions :

Weekly levels: We have done a review on weekly charts at:  http://vtrender.com/nifty-bn-weekly-view-spot-for-04-jan-08-jan16/

(based on Fut prices)

#) The NF was seen balancing today

#) Vwap of the session was at 7811 with volumes of 106.1 L in a session which traded a 7839-7781 range of 58 points

#) Day POC was at 7800 and near the vwap of the session

#) The NF shows rejection of Friday’s upper distribution and a reconfirmation of the selling seen near 7980 spot last month

#) The composite POC at 8022 from dec still holds the bias 

#) If the auction continues lower below 7754 it can drop to 7637 within the next 2 sessions.

#) A short covering rise above 8012 tomorrow can push the index to 8062 cross of which can lead to more short covering

#) Value areas are at  7824-7815-7800– 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 8032 F ( K.R.A= key reference area) 

and the trend is down on the shorter time frame

 

 

BankNifty Dec F:

 

Bnf_Compo

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-04-jan-08-jan16/

Observations in Today’s/ Previous sessions:

(based on Fut prices)

#) The BNF was also seen balancing

#) Vwap was at 16604 with volumes of 26 L in a session which traded a 16700-16516 range of 183 points

#) day POC was at 16600 levels 

#)A short covering rise above 16690 tomorrow can push this index to 16825 and 16870

#) However below 16500 it could drop to 16200

#) Value areas are at 16640-16600-16568 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/

 

K.R.A is 17210 F  ( K.R.A= key reference area)

 

 Trend is down in the shorter time frame