It was another spike to close off the day. Earlier we opened within the spike but the initial demand near 7400 was easily overwhelmed by supply starting from 7450 levels and long liquidation was seen in the closing hour.
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 again
#) Vwap of the session was at 7427 with volumes of 152.3 L in a session which traded a 7468-7354 range of 113 points
#) Day POC was at 7437 levels
#) We note another spike today from 7395 to 7355.
#) The Profile has closed today below the 2-way balance seen between 7430 and 7620.
#) Value areas are at 7452-7437-7404– 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 is lower.
BankNifty Jan 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 was contained in the IB done in the first hour today
#) vwap of the session was at 15170 with volumes of 41.6 L in a session which traded a 15347-14985 range of 361 points
#) day POC was at 15144 levels
#) Value areas are at 15272-15144-15096 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)