A sell program late on friday after 2.45 from 8190 levels turned around an uptrending day into a neutral extreme close at lows. So we now have big buyers at 8078 and big sellers at 8190 in the short term auction.
In the Paras below you will find my daily plan for the day at the bottom with weekly support and resistance levels updated on the spot . We function with a view on different timeframes and seek an edge by understanding the interplay.. Auction Market Theory tells us where to trade. The Order Flow will show us when to trade.
| Nifty June F
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| Background / Previous Auctions :
Weekly levels :
We have done a review on weekly charts at : http://vtrender.com/nifty-bn-weekly-view-spot-for-8-12-june15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) NF profile saw responsive sell programs from the highs near 8175-8195 #) vwap of the day was at 8147 with volume of 135.5. L (More than the Previous session) #) FA at 8164 was revisited. #) Profile was a neutral extreme with close at lows. #) 8101 is our ref line early in the session on Monday for bias
#) Value areas are at 8168-8128-8108 – 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. ———————————————————————————————————— #) Selling tail on 02/06 from 8436 #) The profile of 01/06 has a small selling tail at 8484 F just near the POC of 22/05. #) New pull back high is at 8359 and resistance for coming sessions
Hypothesis :
( Based on June Futures)
K.R.A is 8080 ( K.R.A= key reference area)
Hypo 1) If NF auctions below 8080 then it can move to 8044 and 8007 . Sl for this view 8116.
Hypo 2) If NF auctions above 8147 it can move to 8180 and 8222 . Sl for this view is 8100.
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BankNifty June F :
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| 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-8-12-june15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) The BNF profile was a neutral extreme day which finished inside Thursday’s range #) vwap was at 17683 with volumes of 31.5 L (Less than the previous session) #) Selling was seen near 17820 again today #) Selling tail on 02/06 from 18774 #) Value areas are at 17739-17667-17649 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/
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#) Anomalies in profile at 17991 and 18072 and 18117 and 18243 all of which need repair. #) 18380 is the pull back high of the auction and should see more sellers entering if it gets there
Hypothesis :
( Based on Futures)
K.R.A is 17631 ( K.R.A= key reference area)
Hypo1 ) If BNF auctions above 17640 then it should attempt to move to 17746 and 17820.. Sl for this view is 17520
Hypo 2 ) If BNF auctions below 17410 then it should drop to 17297 and 17160 . Sl for this view is 17526. |