We expected a trending move off the profile of yesterday and we did get a strong move off yesterday’s profile which carried the Nifty 143 points higher from the lows. The profile showed long liquidation and short covering alternatively and tomorrow the VPOC’s will be called to play out their roles.
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 was an Open drive Off VAL which took the market’s back near last Friday’s range. #) vwap of the day was at 8100 with volume of 129.2 L (More than the Previous session) #) Profile shows buying prints from 8016 early in the session. #) Spike seen 8112- 8154F #) VPOC at 8094 is the level to watch tomorrow.
#) Value areas are at 8126-8094-8082 – 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 8166 ( K.R.A= key reference area)
Hypo 1) If NF auctions below 8094 then it can move to 8071 and 8021 . Sl for this view 8129.
Hypo 2) If NF auctions above 8166 it can move to 8216 and 8251 . Sl for this view is 8109.
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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 shows an Open drive which stalled near last week’s POC of 17690 #) vwap was at 17667 with volumes of 29.2 L (More than the previous session) #) Sellers were seen coming back in the BankNifty again today. #) Value areas are at 17704-17672-17624 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 17567 ( K.R.A= key reference area)
Hypo 1 ) If BNF auctions below 17567 then it should drop to 17460 and 17254 . Sl for this view is 17656.
Hypo2 ) If BNF auctions above 17774 then it should attempt to move to 17881 and 17985.. Sl for this view is 17650. |