The day after a trend day a VPOC is considered an important support. Today the VPOC broke and sent the NF and the BNF crashing down erasing all the gains from the previous session.
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 a Trend Day which did not hold VPOC of the previous session #) vwap of the day was at 8035 with volume of 174.2 L (More than the Previous session) #) Profile of today erased the buying prints from 8016 yesterday #) Auction did not cross the spike highs and moved below spike lows early in the day #) VPOC at 8094 was broken with ease #) Selling tail is seen from 8154 #) Anomalies at 7980 and 8052 #) Pull back high of the day at 8044.
#) Value areas are at 8046-8016-7956 – 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 7935 ( K.R.A= key reference area)
Hypo 1) If NF auctions below 7935 then it can move to 7915 and 7892 . If 7892 breaks for any reason tomorrow the NF will drop to 7820 quickly. Sl for this view 7970
Hypo 2) If NF auctions above 7970 it can move to 8030 and 8065 . Sl for this view is 7915.
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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 was an OPen drive which closed at day lows #) vwap was at 17475 with volumes of 42.2 L (More than the previous session) #) Yesterday’s sellers dominated the OPen . #) Anomaly seen at 17650 and 17490 #) Value areas are at 17530-17430-17250 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 17332 ( K.R.A= key reference area)
Hypo 1 ) If BNF auctions below 17332 then it should drop to 17230 and 17094 . Sl for this view is 17436.
Hypo2 ) If BNF auctions above 17440 then it should attempt to move to 17627. Sl for this view is 17320. |