After 2 back to back imbalances the Nifty had a balanced day and a gaussian profile to show for it. The Gaussian is a hold pattern which suggests that the larger time frame left the field of play to the locals to decide the move.
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 |
| Background / Previous Auctions :
Weekly levels :
We have done a review on weekly charts at : http://vtrender.com/nifty-bn-weekly-view-spot-for-15-19-june15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) NF profile was a Gaussian distribution . #) vwap of the day was at 7962 with volume of 101.8 L (Less than the Previous session) #) Profile of today has a prominent value area which sets up a good bias for the coming session. #) Anomaly at 7980 repaired but the one at 8052 remains. #) Pull back high of the day at 8044.
#) Value areas are at 7974-7962-7946 – 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 is seen from 8154 #) 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 7943 ( K.R.A= key reference area)
Hypo 1) If NF auctions below 7943 then it can move to 7910 and 7888 . Sl for this view 7970
Hypo 2) If NF auctions above 8006 it can move to 8036 and 8055 . Sl for this view is 7985.
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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-15-19-june15/
The Banknifty view is in the above link below the Nifty view.
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) The BNF profile saw a short covering drive late in the session which took the index near thursday’s second seller. #) vwap was at 17325 with volumes of 38.2 L (Less than the previous session) #) Shorts were seen covering from the lows #) Anomaly seen at 17650 . The anomaly at 17490 is repaired #) Value areas are at 17395-17295-17215 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 17636 ( K.R.A= key reference area)
Hypo 1 ) If BNF auctions below 17365 then it can drop to 17280 and 17230 . Sl for this view is 17476.
Hypo2 ) If BNF auctions above 17640 then it should attempt to move to 17775. Sl for this view is 17560. |