The NF looked like it had completed the bell curve in Friday’s trade and closed at the POC of the composite at 8555F. The stage looks set for a trending move again.
NIFTY July F:
Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-18th-july-22nd-july/
Background / Previous Auctions :
#) The NF was a Normal Variation day
#) vwap of the session was at 8535 with volumes of 90.5 L in a session which traded a 8563-8500 range of 63 points
#) Day POC was at 8555, higher than the 8519 seen the previous session.
#) The auction in step 2 is now visible to all.
#) Volume was at the median of the past 5 sessions .
#) We note an FA at 8186 on 29/06. It has not been visited in T+5 and hence is a support now for the swing.
#) Value areas are at 8560-8554-8529– for the session tomorrow. For using value areas effectively visit:http://vtrender.com/popular-market-profile-trading-setups/
BankNifty July F:
Background/ Previous Auctions :
#) The BNF was a Normal day
#) vwap of the session was at 18699 with volumes of 28 L in a session which traded a 18776-18580 range of 197 points
#) day POC was at 18735 levels
#) Auction has repaired the 2 anomalies at 18722-755 .
#) The buying tail off 18570 is a major support
#) Value areas are at 18744-78735-18644 for bias. For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/–