Levels and Plan for 20th Nov

The market gapped up today and on the expected retest of 7777 mentioned in yesterday’s report, the sellers failed to hold their edge ( low of 7771) and the auction rose in the opposite direction on old business covering positions. Into the close there was an absence of new buying and structure remains sideways for now. 

Nifty Nov F:





Background / Previous Auctions :

Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-16-nov-20-nov15/

Observations in Today’s/ Previous sessions:

(based on Fut prices)

#) The NF was a trend day dominated by the Buyers in a reversal from yesterday.

#) Vwap of the session was at 7822 with volumes of 128.8 L in a session which traded a range of 7871-7771 of 100 points

#) Day POC was at 7844 levels

#) Today’s rise was all about old business closing positions and OrderFlow did not point to any major new buying.

#) The seller at 7870 was tested but we did not see him close positions in today’s session.

#) The Profile of the last 4 sessions is a largish P showing non-acceptance below 7800 and accepting 7820- 7860 as value.

#) We see a spike at 7870 (minor) and anomalies at 7792 in the profile of today.

#) Per our weekly plan auction closed near 7840 spot but being a spike is inconclusive still.

#) Value areas are at  7858-7844-7796– 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 Nov F)

K.R.A is 7918 ( K.R.A= key reference area)


Hypo1 ) If NF auctions above 7893 it could move to 7939 and 7966.  SL for this view is 7850

Hypo 2) IF NF auctions below 7826 it could move to 7791 and 7702. Sl for this view is 7857

BankNifty Nov 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-16-nov-20-nov15/

Observations in Today’s/ Previous sessions:

(based on Fut prices)

#) The BNF majorly auctioned out the fast drop zone from 17120 to 16920 in yesterday’s profile

#) Vwap was at 17029 with volumes of 28.4 L in a session which traded a range of 17149-16882 of 268 points

#) day POC was at 17076 levels

#) Excess at 17320 is still the driver of the auction 

#) Excess at 16626 and 16760 still remains though.

#) Larger structure is hinting at a neat balance between these 2 excesses.
#) Value areas are at 17125-17080-16990 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/


Hypothesis :

( Based on Nov Futures)

K.R.A is 17085  ( K.R.A= key reference area)

Hypo1 ) IF BNF auctions above 17168  it could move to 17261 and 17331. Sl for this view is 17060.

Hypo 2) If BNF auctions below 16990 it could move to 16897 and 16700. SL for this view is 17095.

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.