From a Market Profile perspective we stepped into a day with a neutral extreme close but a lower value area and POC but which had a spike. The Open was overturned and responsive selling finally came at the close but we stayed above spike highs at close. Such profiles get easily accepted or rejected and we await the outcome of this one tomorrow.
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
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| 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 created value higher today and was accepted over spike highs mostly. #) vwap of the day was at 8079 with volume of 134.6 L (More than the Previous session) #) Profile of today shows selling from 8120 levels. #) Anomaly at 8002 and 8014 from tuesday’s profile stands #) Prominent POC at 8074.
#) Value areas are at 8080-8074-8050 – 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 8049 ( K.R.A= key reference area)
Hypo 1) If NF auctions below 8049 then it can move to 8020 and 7983 . Sl for this view 8078
Hypo 2) If NF auctions above 8106 it can move to 8135 and 8184 . Sl for this view is 8066.
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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 selling near the open and unlike the NF auctioned below spike lows all day. #) vwap was at 17567 with volumes of 27.0 L (Less than the previous session) #) Auctioned stayed below 17600 where it met repeated sellers. #) Value areas are at 17620-17570-17530 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 17450 ( K.R.A= key reference area)
Hypo1 ) If BNF auctions above 17606 then it should attempt to move to 17669 and 17790. Sl for this view is 17528.
Hypo 2 ) If BNF auctions below 17450 then it can drop to 17378 and 17330 . Sl for this view is 17556.
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