Levels and Plan for 07th Aug

We spoke about a bias at 8588F in yesterday’s post and the jump above that prominent POC came later afternoon taking the market to 8642 supply. EOD data showed pros selling into the rise but when they liquidate tomorrow that bias above 8588 will remain intact.

 

Nifty Aug F :

 

Nf_Compo1

 

 

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 a incomplete DD.
#)  vwap of the day was at 8595  with volume of 75.1 L (Same as the Previous session)
#) Since the profile was a DD we have 2 separate value areas for tomorrow’s session, however we will note the collective value area for the day below.

#) We still mark 8588 as an important reference area for the remainder of this week.

#) Some sellers were seen near 8640  today

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

#) We maintain that the auction has to travel up to 8630 and 8670F in next few sessions to check for sellers.

 

#) Value areas are at 8640-8610-8586– 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 8585 ( K.R.A= key reference area)

Hypo 1) If NF auctions above 8642  then it could move to 8664 and 8710. . Sl for this view 8609

Hypo 2) If NF auctions below 8585 it could move to 8563 and 8535. Sl for this view is 8625.

 

BankNifty Aug F :

 Bnf_Compo

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 saw buyers lifting offers below VAL all morning and fnally closed near VAH
#) vwap was at 19020  with volumes of 26.5 L  ( More than the previous session)

#) Auction shows  selling from 19189 and buyers from 18900

#) A buying tail also visible at 18305 
#) Value areas are at 19184-19084-18968 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 18970 ( K.R.A= key reference area)

Hypo 1) If BNF auctions above  19210 then it could move to 19305 . Sl for this view is 19100.

Hypo 2) If BNF auctions below 18970 then it could attempt to move to 18895  . Sl for this view is 19075