We hit that VPOC as we expected and the markets bounced off from it to go higher by 167 into the close. The 2-way auction began as soon as the VPOC was hit at 6980 (low of 6967 today) and it looked like a Normal day developing till we got a spike into the close.Spike rules apply at the Open tomorrow.
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 a Normal day with new information flowing in the form of a spike at the close.
#) Vwap of the session was at 7033 with volumes of 193.3 L in a session which traded a 7134-6967 range of 166 points
#) Day POC was at 7044 levels
#) we got a spike from 6970 to 7134 today
#) Selling tail at 7208 is the first leg of supply but once above should hit the VPOC’s mentioned.
#) 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 7060-7044-6988– 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 14040 with volumes of 41.9 L in a session which traded a 14216-13890 range of 325 points
#) day POC was at 14004 levels
#) The excess at 14588 remains
#) The FA seen on 12/02 at 13812 in on day T+3
#) Value areas are at 14124-14004-13956 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.