Levels and Plan for 05th Aug

The RBI day was action packed but little changed at the close. We saw further evidence of dip buyers in this market, but for now the seller at the highs seems to be holding up well. From yesterday’s post – “The  failed auction at 8451 Aug F was revisited on 30/07 and will now function as a support” Day low was at 8450. 


Nifty Aug F :





Background / Previous Auctions :

Weekly levels : We have done a review on weekly charts at : http://vtrender.com/nifty-bn-weekly-view-spot-for-03-aug-07-aug15/


Observations in Today’s/ Previous sessions :

(based on Fut prices)

#) NF Profile was 2 timeframe and below the POC of yesterday mostly
#)  vwap of the day was at 8526  with volume of 143.7 L (More than the Previous session)
#) The NF could not cross VAH after 3 sessions and there was range extension below IB today

#) Profile shows buyers responding from the lows of 8452 today

#) Buying again was seen at 8336 , the same kind as the one we had noted back on 10/ 11 july.

#) We anticipate a quite range bound session tomorrow mostly in today’s range. However the auction has to travel up to 8630 and 8670F in next few sessions to check for sellers.


#) Value areas are at 8556-8532-8516– for the session tomorrow. For using value areas effectively visit :http://vtrender.com/popular-market-profile-trading-setups/
#) Discl – When we mention Buyers/ Sellers we point to and infer aggressive players.


Hypothesis :

(based on Aug F)

K.R.A is 8502 ( K.R.A= key reference area)

Hypo 1) If NF auctions above 8588  then it could move to 8630. . Sl for this view 8543

Hypo 2) If NF auctions below 8533 it could move to 8502 and 8458. Sl for this view is 8575.


BankNifty Aug 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-03-aug-07-aug15/

Observations in Today’s/ Previous sessions :

(based on Fut prices)

#) The BNF profile was an outside bar .
#) vwap was at 18962 with volumes of 44.5 L  ( More than the previous session)

#) Auction shows responsive selling from 19139. However buying efforts also seen from 18820.

#) A buying tail also visible at 18305 
#) Value areas are at 19045-18920-18880 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/


Hypothesis :

( Based on Aug Futures)

K.R.A is 18830 ( K.R.A= key reference area)

Hypo 1) If BNF auctions above  19075 then it could move to 19185 and 19232 . Sl for this view is 18960.

Hypo 2) If BNF auctions below 18970 then it could attempt to move to 18856  . Sl for this view is 19035