The expected trend up from yesterday’s range came early in the session and on good volumes, but towards the close of the IB the volume started stopping and the trend day shut down on itself. However, bias is up on the smaller Timeframe even though we remain bound within the balance developing in the past 10 days.
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 day but wth buying prints near the Open
#) vwap of the day was at 8187 with volume of 96.9 L in a trade which worked an 8206-8141 range of 66 points
#) Day POC was at 8192 levels
#) we see an FA at 8248 levels and it is on day T+4
#) Larger structure beyond the daily is now into Step 2 of the process.
#) The OrderFlow of today shows a battle between initiative buyers and responsive sellers.
#) Value areas are at 8196-8192-8176– 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 8212 it could move to 8248 and 8269. SL for this view is 8180
Hypo 2) IF NF auctions below 8168 it could move to 8145 and 8098. Sl for this view is 8208
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 was a normal day
#) vwap was at 17750 with volumes of 31.1 L in a trade which worked a 17820-17625 range of 195 points.
#) day POC was at 17765 levels
# OrderFlow showed sellers as the auction probed higher
#) Current Profile is a 3-1-3 with excess at both ends. Bias is neutral.
#) Value areas are at 17790-17765-17715 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 17825 it could move to 17892 and 17950. Sl for this view is 17720.
Hypo 2) If BNF auctions below 17690 it could move to 17627 and 17511. SL for this view is 17790.
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.