The support of 7950 was repeatedly tested and even though we found aggressive buyers at the lows in the first attempt, as the day panned out the buyers could not claim a successful defence of the level, leaving possibilities open for Monday
Nifty Nov F:
Background / Previous Auctions :
Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-09-nov-13-nov15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The NF repaired the spike seen on Thursday but was not able to penetrate abv VAL of the gaussian curve of thurs
#) vwap of the day was at 7980 with volume of 111.9 L in a trade which worked an 8026-7946 range of 80 points
#) Day POC was at 7984 levels
#) Value areas are at 7994-7984-7964– 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 Nov F)
K.R.A is 7918 ( K.R.A= key reference area)
Hypo1 ) If NF auctions above 8011 it could move to 8034 and 8079. SL for this view is 7970
Hypo 2) IF NF auctions below 7956 it could move to 7930 and 7899. Sl for this view is 7984
BankNifty Nov 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-09-nov-13-nov15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The BNF was a normal variation close at POC
#) vwap was at 17126 again with volumes of 29.0 L in a trade which worked a 17240-16981 range of 259 points.
#) day POC was at 17160 levels
#) Value areas are at 17196-17160-17094 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/
Hypothesis :
( Based on Nov Futures)
K.R.A is 16980 ( K.R.A= key reference area)
Hypo1 ) IF BNF auctions above 17252 it could move to 17340 and 17420. Sl for this view is 17146.
Hypo 2) If BNF auctions below 17080 it could move to 16987 and 16805. SL for this view is 17185.
All Hypos to be traded with the mentioned stops and mechanically. If in the trading room, can use the Order Flow to qualify the entry and exit for the hypos.