The NF was a slowish auction in the morning in the VA of Friday but sold off after 1 pm to close near session lows. The profile could not take out the FA seen on friday
Nifty Oct F:
Background / Previous Auctions :
Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-12-oct-16-oct15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The NF profile was a Normal variation day
#) vwap of the day was at 8192 with volume of 100.5 L in a trade which worked an 8247-8136 range of 110 points
#) Day POC was at 8154 levels
#) we see an FA at 8248 levels and it is on day T+1
#) Larger structure beyond the daily is now into Step 2 of the process.
#) The OrderFlow of today shows sellers near 8235- 8248 but there weren’t many as the auction moved down
#) Value areas are at 8204-8154-8140– 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 Oct F)
K.R.A is 8248 ( K.R.A= key reference area)
Hypo1 ) If NF auctions above 8192 it could move to 8230 and 8268. SL for this view is 8151
Hypo 2) IF NF auctions below 8118 it could move to 8079 and 8048. Sl for this view is 8155
BankNifty Oct 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-12-oct-16-oct15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The BNF profile sold off from day highs to day lows after 1 pm in a change of day structure
#) vwap was at 17708 with volumes of 31.9 L in a trade which worked a 17814-17550 range of 265 points.
#) day POC was at 17748
# OrderFlow showed sellers at the higher prices today again
#) Profile is a 3-1-3 in the making with excess at both ends. Bias is neutral.
#) Value areas are at 17802-17748-17640 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/
Hypothesis :
( Based on Oct Futures)
K.R.A is 17820 ( K.R.A= key reference area)
Hypo1 ) IF BNF auctions above 17695 it could move to 17777 and 17945. Sl for this view is 17590.
Hypo 2) If BNF auctions below 17510 it could move to 17430 and 17375. SL for this view is 17620.
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.