Evening report trade dated 11th Jan

We gapped down today and the Prop shops used the opportunity to book minor shorts and enter some longs. However, there was no short covering seen by FII’s. Closure of old business took the market higher but sellers came back heavily at the highs reducing the advantage enjoyed by bulls during the dayNf_Compo1

 

Background / Previous Auctions :

Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-11-jan-15-jan16/

(based on Fut prices)

#) The NF was a normal variation day 

#) Vwap of the session was at 7558  with volumes of 148.5 L in a session which traded a 7619-7505 range of 113 points

#) Day POC was lower at 7518 but 7578 also had comparative volumes

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

#) The auction fell short of the 7482 target zone by 23 points. We booked fully our positional short from 7910 at 7545  today

#) More likely of 7480 holding this week and a sideways consolidation to begin roughly in a 200- 250 point zone

#) Value areas are at  7575-7518-7509– 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 7762 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-11-jan-15-jan16/

Observations in Today’s/ Previous sessions:

(based on Fut prices)

#) The BNF was also a normal variation day type

#) Vwap was at 16003 with volumes of 34.6 L in a session which traded a 16156-15840 range of 344 points

#) day POC was at 16040 levels 

#)We mentioned the index support in the 15800- 16030 zone in yesterday’s post , and despite the gap down the index F low was 15840 

#) We closed our index F shorts in BN at 16170 on Friday. Trade was initiated at 16904

#) Believe the index will hold 15800 levels this week but rises should meet new sellers.

#) Value areas are at 16080-16040-15912  for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/

 

K.R.A is 16525 F  ( K.R.A= key reference area)

 

 Trend is down in the shorter time frame