A Spike in the NF and the BNF brought a close to the week. OrderFlow showed the selling to be dominated by Banknifty sellers who managed a break of the 3-1-3 profile seen on Thursday.
Background / Previous Auctions :
Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-18-jan-22-jan16/
(based on Fut prices)
#) The NF was a Normal Variation day which finished in a spike
#) Vwap of the session was at 7510 with volumes of 143.1 L in a session which traded a 7560-7432 range of 127 points
#) Day POC was at 7443 levels
#) The composite POC at 8022 from dec still holds the bias
#) We note a spike from 7494 to 7432. Spike rules apply at the Open and in the Opening hour.
#) The Profile is hinting at a balance formation here in a largish 7430- 7640 range.
#) Value areas are at 7518-7443-7435– for the session tomorrow. For using value areas effectively visit:http://vtrender.com/popular-market-profile-trading-setups/
K.R.A is 7382 F ( K.R.A= key reference area)
and the trend has gone sideways now
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-18-jan-22-jan16/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The BNF broke away from the 3-1-3 and ended up as a spike
#) vwap of the session was at 15475 with volumes of 32 L in a session which traded a 15639-15161 range of 477 points
#) day POC was at 15193 levels
#) Auction is showing a sideways nature now and 16200 is the resistance at highs
#) Value areas are at 15535-15190-15165 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/
K.R.A is 14860 F ( K.R.A= key reference area)