We got a neutral center in the NF in Friday’s session. We also note an FA at 7742 which saw a huge buying order enough to push the index up 54 points during the session. However, the close was at vwap and just like last Friday resembled a pause.
Nifty Nov F:
Background / Previous Auctions :
Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-16-nov-20-nov15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The NF was a neutral center and closed at vwap./ dpoc/ midpoint.
#) Vwap of the session was at 7771 with volumes of 85L in a session which traded a range of 7797- 7742.
#) Profile shows an FA at 7742. An auction below the FA point of 7742 on Monday is bearish and can bring 7688F
#) Day POC was at 7771 levels
#) Value areas are at 7782-7771-7763– 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 Nov F)
K.R.A is 7918 ( K.R.A= key reference area)
Hypo1 ) If NF auctions above 7789 it could move to 7807 and 7834. SL for this view is 7750
Hypo 2) IF NF auctions below 7732 it could move to 7705 and 7688. Sl for this view is 7772
BankNifty Nov 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-16-nov-20-nov15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The BNF was a normal variation day and a P-shaped profile.
#) Open was an ORR and we still see excess below 16758
#) Vwap was at 16920 with volumes of 23.8 L in a session which traded a range of 16999- 16758,
#) The FA at 17085 is on session T+1.
#) day POC was at 16950 levels
#) Value areas are at 16980-16950-16896 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/
Hypothesis :
( Based on Nov Futures)
K.R.A is 17085 ( K.R.A= key reference area)
Hypo1 ) IF BNF auctions above 17085 it could move to 17162 and 17225. Sl for this view is 16940.
Hypo 2) If BNF auctions below 16884 it could move to 16804 and 16595. SL for this view is 16995.
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.