Settlement day was a timid affair and writers came out winners. Day remained inside for the third day and we all know that it would be an explosive move away from this bracket when it comes. The Jan series closed at the POC 7425 and has a vwap of 7523. Looking for a drive away from this bracket in the coming session.
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-25-jan-29-jan16/
#) The NF was again an inside day today within Monday’s range
#) Vwap of the session was at 7453 again with volumes of 91.7 L in a session which traded a 7480-7432 range of 48 points
#) Day POC was at 7434 levels
#) The Profile today again closed at the composite POC of Jan series
#) In trades today we bought an anticipatory position in the 7600 call on a 1/3 position size.
#) We feel a trending move is around the corner and has equal chances of hitting either 7560F or 7353F.
#) Value areas are at 7461-7449-7437– for the session tomorrow. For using value areas effectively visit:http://vtrender.com/popular-market-profile-trading-setups/
K.R.A is 7370 Feb F ( K.R.A= key reference area)
and the trend is going sideways now.
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The BNF was a neutral day which closed at session lows
#) vwap of the session was at 15508 with volumes of 191 L in a session which traded a 15577-15405 range of 173 points
#) day POC was at 15504 levels
#) Value areas are at 15552-15504-15472 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/
K.R.A is 15250 Feb F ( K.R.A= key reference area)