At the close of Trading on Friday there were enough indications from the Profile that the balancing was done and the market was ready for a new move out. We got a high volume break away from the 100 point bracket in today’s market and the volume traded in NF was higher than any other session in July.
NIFTY July F:
Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-25th-july-29th-july/
Background / Previous Auctions :
#) The NF was a Trend day today
#) vwap of the session was at 8590 with volumes of 135 L in a session which traded a 8645-8530 range of 115 points
#) Day POC was at 8641, higher than the 8520 seen the previous session.
#) The auction has broken upwards away from the bracket on good volumes. We wait for more confirmation of the push-up.
#) Volume was higher than 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 8644-8641-8588– 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 Trend day
#) vwap of the session was at 18866 with volumes of 35.4 L in a session which traded a 19080-18606 range of 473 points
#) day POC was at 19000 levels
#) Auction has moved back into the mini composite ( shown in chart) and should continue higher.
#) The buying tail off 18570 is a major support
#) Value areas are at 19080-19000-18825 for bias. For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/–