Today’s NF and BNF shows all categories establishing a short bias early at Open mostly through short calls, long puts and Index shorts, but at the lows, the Retail category seems to have got into some advantageous long index positions. Profile wise we dipped lower on a no- show by the Buyers early at the Open but a test of yesterday lows showed buying interest.
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 b shaped profile
#) Vwap of the session was at 7533 with volumes of 116.5 L in a session which traded a 7600-7501 range of 99 points
#) Day POC was lower at 7533
#) The composite POC at 8022 from dec still holds the bias
#) The auction confirmed the sideways consolidation we expressed yesterday and day was mostly inside yesterday’s range
#) The anomaly at 7551 and the sell volumes seen near 7565 could be tested. 7475 F is still a support
#) More likely of 7480 holding this week and a sideways consolidation to begin roughly in a 200- 250 point zone
#) Value areas are at 7539-7533-7515– for the session tomorrow. For using value areas effectively visit:http://vtrender.com/popular-market-profile-trading-setups/
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:
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 b shaped profile
#) Vwap was at 15856 with volumes of 34.4 L in a session which traded a 16125-15723 range of 363 points
#) day POC was at 15785 levels
#) The index F dipped lower below 15820 today, however, we did not see immediate new selling coming into the fall
#) We shorted the index for intra-day today near 15940 and booked gains at 15785 for 155 points net.
#) Value areas are at 15875-15785-15745 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)