Levels and Plan for 11th Dec

We got a failed auction at the lows today and a neutral extreme day. And the broader market went sideways for the first time in 7 sessions. This could be the end of the IPM from 8005 and start of Step 2.

 

Nifty Dec F:

Nf_Compo1 1

 

 

 

Background / Previous Auctions :

Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-07-dec-11-dec15/

Observations in Today’s/ Previous sessions:

(based on Fut prices)

#) The NF was a Neutral Extreme day today

#) Vwap of the session was at 7671 with volumes of 96.3 L in a session which traded a 7722-7640 range of 82 points

#) Day POC was at 7664 levels today and lower again.

#) We note an FA at 7640 today

#) The FA at 7949 F has remained unvisited.

#) we see a composite POC at 7984 in the profile chart posted above and the bias is lower below it.

#) Value areas are at  7696-7664-7642– 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 Dec F)

K.R.A is 7580 ( K.R.A= key reference area)

 

Hypo1 ) If NF auctions above 7736 it could move to 7764 and 7796.  SL for this view is 7692

Hypo 2) IF NF auctions below 7680 it could move to 7653 and 7588. Sl for this view is 7716

BankNifty Dec 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-07-dec-11-dec15/

Observations in Today’s/ Previous sessions:

(based on Fut prices)

#) The BNF was a neutral day

#) Vwap was at 16735 with volumes of 24.8 L in a session which traded a 16825-16651 range of 174 points

#) day POC was at 16740 

#) We see 17227F as resistance on any pullback this week.

#) Value areas are at 16782-16740-16704 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 16580  ( K.R.A= key reference area)

Hypo1 ) IF BNF auctions above 16842  it could move to 16885 and 16945. Sl for this view is 16740.

Hypo 2) If BNF auctions below 16703 it could move to 16646 and 16532. SL for this view is 16805.

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.