Evening report trade dated 08th Feb

Another neutral profile and an extreme close. We are getting that day type by the dozens this series, and goes in line with our view of a sideways 200 point trading range for which we already have sold a 7400 straddle last week. 

Nf_Compo1

 

 

 

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-08-feb-12-feb16/

#) The NF was another neutral  day and the day closed at the lower end

#) Vwap of the session was at 7491  with volumes of 139.9 L in a session which traded a 7534-7369 range of 164 points

#) Day POC was at 7485 levels

#) The FA registered at 7606 is over 5 days old and will be marked as a big supply zone rest of this series.

#) Today’s neutral extreme saw a sharp spike from 7430 to 7370 in the closing hour.

#) In the auction of today huge selling came at Friday’s 7427 zone again but as the market moved lower to 7370 the selling was emotional.

#) 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  7530-7506-7464– 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 7444 Feb F ( K.R.A= key reference area) 

and the seller is gaining control of the trend again.

Bnf_Compo

 BANKNIFTY FEB F:

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-08-feb-12-feb16/

Observations in Today’s/ Previous sessions:

(based on Fut prices)

#) The BNF was a neutral day and closed at the lows.

#) vwap of the session was at 15286 with volumes of 37.1 L in a session which traded a 15412-14970 range of 442 points

#) day POC was at 15340 levels 

#) 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 15375-15340-15195 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/

 

K.R.A is 14970 Feb F  ( K.R.A= key reference area)