The ORR played true to the textbook also helped by the MO which had printed -66 in Friday’s session. Given the high volumes seen at today’s open, shorts covered and the buyers could close the gap seen at the Open in traded volumes between the sessions.
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 was a trend day close near highs but from a gap down lower open.
#) vwap of the day was at 7879 with volume of 169.9 L in a trade which worked an 7954-7790 range of 165 points
#) The volume seen was the highest of the series.
#) Profile shows heavy buyers near the open, but selling came back in the last few minutes of the session.
#) Day POC was at 7872 levels
#) Trend day vpoc of 7872 is the support for the auction tomorrow, but it has to take ou 7954 for more upsides.
#) Value areas are at 7908-7872-7814– 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 7955 it could move to 7990 and 8041. SL for this view is 7902
Hypo 2) IF NF auctions below 7870 it could move to 7854 and 7824. Sl for this view is 7908
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 trend day with an ORR open type
#) vwap was at 16929 again with volumes of 35.0 L in a trade which worked a 17140-16625 range of 515 points.
#) day POC was at 16930 levels
#) we may have seen a new auction developing from 16930 today.
#) Value areas are at 16985-16930-16745 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 17207 it could move to 17386 and 17490. Sl for this view is 17106.
Hypo 2) If BNF auctions below 16864 it could move to 16685 and 16625. SL for this view is 16965.
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.