Early in the morning session on Friday, the VAH of the 2-day old balance was broken comprehensively on good volumes and thereafter the NF trended lower to hit 7586 and we finished in imbalance again.
Nifty Dec F:
Background / Previous Auctions :
Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-14-dec-18-dec15/
(based on Fut prices)
#) The NF was a trend day with a minor distribution near the close
#) Vwap of the session was at 7643 with volumes of 116.1 L in a session which traded a 7719-7586 range of 134 points
#) Day POC was at 7626 levels today and lower again.
#) The FA at 7640 was visited again today and the index moved lower below it.
#) 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 7665-7626-7596– for the session tomorrow. For using value areas effectively visit:http://vtrender.com/popular-market-profile-trading-setups/
(based on Dec F)
K.R.A is 7510 ( K.R.A= key reference area)
Hypo1 ) If NF auctions above 7672 it could move to 7717 and 7810. SL for this view is 7642
Hypo 2) IF NF auctions below 7582 it could move to 7536 and 7495. Sl for this view is 7622.
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The BNF was a trend day and closed near the lows
#) Vwap was at 16520 with volumes of 38.8 L in a session which traded a 16808-16292 range of 515 points
#) day POC was at 16380
#) We see 16925F as resistance on any pullback this week.
#) Value areas are at 16596-16380-16296 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/
( Based on Nov Futures)
K.R.A is 16120 ( K.R.A= key reference area)
Hypo1 ) IF BNF auctions above 16562 it could move to 16739 and 17155. Sl for this view is 16460.
Hypo 2) If BNF auctions below 16217 it could move to 16036 and 15942. SL for this view is 16315.
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.