The Open rejection Reverse (ORR) was the first sign of a reversal. The trip below trend day vwap and POC brought the confirmation and the 2 indices closed at session lows in an NV day setup.
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-15-feb-19-feb16/
#) The NF was an ORR in a normal variation day.
#) Vwap of the session was at 7124 with volumes of 170.7 L in a session which traded a 7208-7042 range of 166 points
#) Day POC was at 7132levels
#) The buying excess at 7059 today was neutralised and the one at 6875 is the only 1 which remains now.
#) we see a selling tail in today’s profile at 7208.
#) The FA registered at 7606 is over 5 days old and will be marked as a big supply zone rest of this series.
#) The spike between 7434- 7375 remains a ref zone.
#) Value areas are at 7180-7132-7100– for the session tomorrow. For using value areas effectively visit:http://vtrender.com/popular-market-profile-trading-setups/
K.R.A is 7204 Feb F ( K.R.A= key reference area)
and the trend has gone sideways again.
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-15-feb-19-feb16/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The BNF was an NV day
#) vwap of the session was at 14305 with volumes of 36.3 L in a session which traded a 14588-14120 range of 468 points
#) day POC was at 14352 levels
#) The session shows an excess at 14588 today
#) The FA seen on 12/02 at 13812 in on day T+2
#) Value areas are at 14424-14352-14232 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/
K.R.A is 14700 Feb F ( K.R.A= key reference area)
and the seller is in control of the trend again.