Levels and Plan for 12th Aug

Once 8535F failed to hold in the morning session, the day started a downward spiral and the BN also confirmed the sell bias mid afternoon in a day which closed a bit weirdly near vwap. That close was not in the “normal” scheme of things for the auction and also a pointer as to why Market Profilers rate the Opens higher than the Closes of the session.

 

Nifty Aug F :

Nf_Compo1

 

 

 

Background / Previous Auctions :

Weekly levels : We have done a review on weekly charts at : http://vtrender.com/nifty-bn-weekly-view-spot-for-10-aug-14-aug15/

 

Observations in Today’s/ Previous sessions :

(based on Fut prices)

#) The NF failed to sustain abv 8535 F and dropped to 8461 lows.
#)  vwap of the day was at 8506  with volume of 104.3 L ina  trade which worked a 8560- 8461 range
#) The Profile shows a move below VAL and an extension below IBL which completed.

#) Larger Auction now has 8535 F broken and will turn more weak if 8427F breaks in the next session.

#) Buying again was seen at 8336 , the same kind as the one we had noted back on 10/ 11 july.

 

#) Value areas are at 8510-8494-8470– 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 Aug F)

K.R.A is 8537 ( K.R.A= key reference area)

Hypo 1) If NF auctions above 8537  then it could move to 8560 and 8595  . Sl for this view 8501

Hypo 2) If NF auctions below 8460 it could move to 8427 and 8395. Sl for this view is 8509.

 

BankNifty Aug 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-10-aug-14-aug15/

Observations in Today’s/ Previous sessions :

(based on Fut prices)

#) The BNF profile was a double distribution which came off the multi day balance mid session.
#) vwap was at 18827  with volumes of 35.5 L in trade which worked a 18999- 18630 range

#) The auction can target 18550 F and 18440 F in next few sessions.

#) Profile has an anomaly at 18820

#) A previous  buying tail also visible at 18305 
#) Value areas are at 18970-18915-18730 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/

 

Hypothesis :

( Based on Aug Futures)

K.R.A is 18835 ( K.R.A= key reference area)

Hypo 1) If BNF auctions above  18840 then it could move to 18925  . Sl for this view is 18760.

Hypo 2) If BNF auctions below 18550 then it could attempt to move to 18450   . Sl for this view is 18645