Day 9 of the series finally took the Nifty to the 8355 level in an afternoon spike which hit 8385 F. A spike is an incomplete auction and the morning after is needed for a confirmation.
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 and the medium term auction. It’s a view on 3 different timeframes. Auction Market Theory tells us where to trade. The Order Flow will show us when to trade.
Nifty May F  |
| Background / Previous Auctions :
Weekly levels :
We have done a review on weekly charts at : http://vtrender.com/nifty-weekly-view-spot-prices/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) NF profile broke higher abv the previous day VAH and closed in a spike #) vwap of the day was at 8314 with volume of 102.9 L (More than the Previous session) #) Spike zone is 8346 to 8385 #) Anomaly at 8354 and 8326 needs a revisit and repair #) Buying prints of the profile are at 8268 which will be important support below 8326 F in coming sessions. #) LVN at 8345 NF is now the support for the coming sessions. #) NF can move upto 8436 and 8534 F as long as the auction stays above 8345 #) Value areas are at 8330-8306-8286 for the session tomorrow. For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/ #) Ref lines are at 8418 and 8338 for tomorrow’s session for breakout moves. #) The breakout ref lines above can create fast moves in up/ down direction #) Discl – When we mention Buyers/ Sellers we point to and infer aggressive players. ————————————————————————————————————
#) Minor excess noted at 8020 on 07/05 #) Excess at 8404 on 27/04 #) Excess at 8456 on 24/04 #) Excess at 8678 on 20/04 #) Day saw sellers at 8774 today ( 17/04/15) #) Day saw sellers active at 8836 on ( 16/04/15)
Hypothesis :
( Based on May Futures)
K.R.A is 8386 ( K.R.A= key reference area)
Hypo1) If NF auctions above 8386 then it can move to 8418 and 8436. . Sl for this view 8341
Hypo 2) If NF auctions below 8325 it can drop to 8297 and 8269 . Sl for this view is 8357.
BankNifty May F :
|
| Background/ Previous Auctions :
Weekly levels :
For Banknifty we have updated a spot auction view with a chart at : http://vtrender.com/nifty-weekly-view-spot-prices/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) The BNF profile broke over the POC of FRiday profile and went to 18430 #) vwap was at 18280 with volumes of 24.8 L (More than the previous session) #) Profile shows a buying response at 18176. #) Value areas are at 18340-18250-18220 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/ #) Ref lines are at 18479 and 18310 for tomorrow’s session for breakout moves. #) The breakout ref lines above can create fast moves in up/ down direction
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#)Profile shows strong responsive buying from 17785 #)The BNF profile showed buyers at 17520 on 08/05 #) Pull Back high of 06/05 at 18070. #) Excess at 18520 on 06/05 #) excess at 18750 on 17/04
Hypothesis :
( Based on Futures)
K.R.A is 18435 ( K.R.A= key reference area)
Hypo1 ) If BNF auctions above 18435 then it should attempt to move to 18480 and 18527. Sl for this view is 18345
Hypo 2 ) If BNF auctions below 18305 then it should drop to 18223 . Sl for this view is 18366 |