We got a neutral center today. I was telling the trading room today about how this series has been about neutral centers and neutral extremes only. It shows a strong 2-time frame mode active on bigger frames and is in line with our view of a balance developing in the 7300- 6800 bracket for the time being.
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 neutral center which closed near vwap and poc
#) Vwap of the session was at 7174 with volumes of 172.5 L in a session which traded a 7225-7126 range of 98 points
#) Day POC was at 7176 levels
#) The spike highs were protected at 7131 today and value was created higher.
#) Selling tail at 7208-7220 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 7200-7176-7152– 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 14258 with volumes of 37 L in a session which traded a 14387-14149 range of 238 points
#) day POC was at 14256 levels
#) The excess at 14588 remains
#) The FA seen on 12/02 at 13812 in on day T+4
#) Value areas are at 14304-14256-14184 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 trend has gone sideways again.