We spoke about acceptance/ rejection of yesterday’s profile and the move off the open today was swift and value was created above yesterday’s range today. The path of least resistance remains upwards now as progressive values march higher.
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 a P shaped one which created value higher #) vwap of the day was at 8150 with volume of 137.0 L (More than the Previous session) #) Profile of today shows short covering from 8094. #) Anomaly at 8002 and 8014 from tuesday’s profile stands #) Prominent POC at 8074 on 17/06
#) Value areas are at 8164-8152-8142 – 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 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 8120 ( K.R.A= key reference area)
Hypo 1) If NF auctions below 8120 then it can move to 8095 and 8055 . Sl for this view 8155
Hypo 2) If NF auctions above 8187 it can move to 8216 and 8240 . Sl for this view is 8146.
———————————————————————————————————————————————————-
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 auctioned above 18600 today but wa sunable to move past last week’s highs. #) vwap was at 17689 with volumes of 29.6 L (More than the previous session) #) Auctioned stayed above 17600 today where it had met repeated sellers yesterday #) Value areas are at 17724-17688-17668 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 17752 ( K.R.A= key reference area)
Hypo1 ) If BNF auctions above 17752 then it should attempt to move to 17816 and 17876. Sl for this view is 17650
Hypo 2 ) If BNF auctions below 17620 then it can drop to 17565 and 17430 . Sl for this view is 17736. |