At the close today NF was a neutral day and the BNF a Normal Day. In Market Profile terms the 2 day types pointed to a trending move around the corner as bias turned from negative to neutral. The BNF is seeing shorts covered at the lows for the past 2 days and could lead a relief move if any.
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  |
| 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 was a Neutral day with 2 timeframe behavior #) vwap of the day was at 8030 with volume of 96.2 L (almost same as the Previous session) #) Profile shows a gaussian curve with POC centered at 8030 #) 8030 again on watch early in the session on Tuesday
#) Value areas are at 8043-8029-8021 – 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 8044 ( K.R.A= key reference area)
Hypo 1) If NF auctions below 7997 then it can move to 7960 and 7939 . Sl for this view 8044.
Hypo 2) If NF auctions above 8061 it can move to 8106 and 8123 . Sl for this view is 8030.
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BankNifty June 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-8-12-june15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) The BNF profile was a Normal day which saw buying responses at dips #) vwap was at 17464 with volumes of 26.2 L (Almost same as the previous session) #) Buyers were seen at most dips in the BankNifty again today. #) Value areas are at 17504-17472-17424 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/
————————————————————————————————————— #) Selling tail on 02/06 from 18774 #) 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 17535 ( K.R.A= key reference area)
Hypo 1 ) If BNF auctions below 17354 then it should drop to 17254 and 17208 . Sl for this view is 17426.
Hypo2 ) If BNF auctions above 17535 then it should attempt to move to 17594 and 17666.. Sl for this view is 17410 |