A move up on short covering met with sellers twice in the Nifty at higher levels and closed the day auction at vwap. We maintain 8065 and 7910 F as important levels for the Nifty Futures for the duration of the week
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 am Open drive which met selling at higher levels. #) vwap of the day was at 8010 with volume of 125.6 L (More than the Previous session) #) Profile of today shows a buying tail at 7946 and poor highs at 8065. #) Anomaly at 8052 repaired today
#) Value areas are at 8028-8008-7984 – 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 7963 ( K.R.A= key reference area)
Hypo 1) If NF auctions below 7963 then it can move to 7922 and 7868 . Sl for this view 7998.
Hypo 2) If NF auctions above 8009 it can move to 8045 and 8085 . Sl for this view is 7963.
———————————————————————————————————————————————————-
BankNifty June 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-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 was a Normal day with a Prominent POC. #) vwap was at 17435 with volumes of 30.2 L (Less than the previous session) #) Buyers were seen protecting 17330 twice. #) Anomaly seen at 17650 . The anomaly at 17490 is repaired #) Value areas are at 17495-17425-17385 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 17316 ( K.R.A= key reference area)
Hypo 1 ) If BNF auctions below 17315 then it can drop to 17237 and 17160 . Sl for this view is 17426.
Hypo2 ) If BNF auctions above 17476 then it should attempt to move to 17555 and 17714. Sl for this view is 17410. |