Levels and Plan for 16th Sept

The aggressive selling we noted at the close yesterday was good enough to erase most of the gains in the session today. However late in the day we saw aggressive offers being taken and showed us buyers willing to step in to take the market higher.

 

 

Nifty Sept F :

 

 

Nf_Compo1

 

 

Background / Previous Auctions :

Weekly levels : We have done a review on weekly charts at : http://vtrender.com/nifty-bn-weekly-view-spot-for-14-sept-18-sept15/

Observations in Today’s/ Previous sessions :

(based on Fut prices)

#) The NF  was a ORR for the third day in a row.
#)  vwap of the day was at 7842 with volume of 106.9 L in a  trade which worked a 7887-7801 range of 87 points

#) Day POC was at 7850 levels and centered

#) The NF was an inside day and the range is steady for 3 sessions now. A trend day should come up next. 

#) The auction finally balanced with buying at the lows and sellers near highs
#) The OrderFlow shows buyers coming back between 7801-7825

#) Gap between profiles is 7944- 7961.

#) Weekly Auction  shows a balance between 7875 and 7685 and we should see more volatility in this range.We are open to 8003 and 8096 F above 7892 F on short covering.

#) Value areas are at 7860-7845-7824– 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 Sept F)

K.R.A is 7850 ( K.R.A= key reference area)

Hypo 1) If NF auctions above 7850 then it could move to 7882 and 7946. Sl for this view 7801

Hypo 2) If NF auctions below 7793 it could move to 7762 and 7741 .  Sl for this view is 7845

 

BankNifty Sept F :

 

 Bnf_Compo

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-14-sept-18-sept15/

Observations in Today’s/ Previous sessions :

(based on Fut prices)

#) The BNF profile was balanced and having a prominent POC
#) vwap was at 16798 with volumes of 36.4 L in a trade which worked a 16930-16701 range of 229 points.

#) day POC was at 16820 levels

#)OrderFlow shows buying at the lows as the marked dipped

#) Gap between profiles is 17025- 17090.
#) Value areas are at 16830-16812-16731 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/

 

Hypothesis :

( Based on Sept Futures)

K.R.A is 16800 ( K.R.A= key reference area)

Hypo 1) If BNF auctions above  16879 then it could move to 17085 and 17284  .Sl for this view is 16779

Hypo 2) If BNF auctions below 16647  then it could attempt to move to 16566 and 16269. Sl for this view is 16745

 

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.