The first day of the new series was a market in wait mode and showed up as a Normal day on our Market Profile Charts. A normal day points to a trending move around the corner. As we waited we saw the 7000 March straddle come near a support at 325- 335 and went long in it with a 7400- 6600 strangle sold again it to make up for the expected volatility decay.
NIFTY MAR F:
Background / Previous Auctions :
Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-29-feb-04-mar16/
#) The NF was a Normal day
#) Vwap of the session was at 7044 with volumes of 128.1 L in a session which traded a 7087-7006 range of 81 points
#) Day POC was at 7064 levels
#) the singles from 6928 are the only protection for the bullish case
#) Value areas are at 7072-7064-7034– for the session tomorrow. For using value areas effectively visit:http://vtrender.com/popular-market-profile-trading-setups/
K.R.A is 7135 Mar F ( K.R.A= key reference area)
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-29-feb-04-mar16/
(based on Fut prices)
#) The BNF was an NV day
#) vwap of the session was at 13775 with volumes of 33.9 L in a session which traded a 13945-13634 range of 311 points
#) day POC was at 13820 levels
#) Value areas are at 13940-13820-13718 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/–
K.R.A is 14150 Mar F ( K.R.A= key reference area)