The NF and BNF put in a Normal day again as market participants digested a 3% move seen in the main index during the week. Both Profiles are back to balance.
Nifty July F :
Background / Previous Auctions :
Weekly levels : We have done a review on weekly charts at : http://vtrender.com/nifty-bn-weekly-view-spot-for-20-july-24-july15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) NF Profile was seen balancing after the trend up day on Thurs
#) vwap of the day was at 8628 with volume of 67.4 L (Less than the Previous session)
#) The Day type was a normal day with no range extension.
#) Buying tail seen at 8560 and at 8464 in the week gone by and are supports for the intra day auctions.
#) Value areas are at 8632-8628-8618 – 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 July F)
K.R.A is 8660 ( K.R.A= key reference area)
Hypo 1) If NF auctions above 8660 then it can move to 8692 and 8728. . Sl for this view 8613
Hypo 2) If NF auctions below 8601 it can move to 8582 and 8560. Sl for this view is 8655
BankNifty July 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-20-july-24-july15/
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 was a normal day
#) vwap was at 19180 again with volumes of 22.5 L (Less than the previous session)
#) Last week’s break above the 3 day value area near 18950 is new support fr the index on intra day dips.
#) Anomaly seen at 19085 F still exists.
#) Day shows a Failed Auction at 18581 at the lows of 10/07 which has not been revisited.
#) Value areas are at 19212-19148-19136 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/
Hypothesis :
( Based on Futures)
K.R.A is 19220 ( K.R.A= key reference area)
Hypo 1) If BNF auctions above 19220 then it can move to 19280 and 19335. Sl for this view is 19160.
Hypo 2) If BNF auctions below 19098 then it should attempt to move to 18980. Sl for this view is 19195