A normal variation day at the top of Friday’s high volume spike was inconclusive but showed intent to push through to 8320 F even as sellers failed to capitalise on an opportunity early in the session today
Nifty Oct F:
Background / Previous Auctions :
Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-19-oct-23-oct15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The NF profile was a normal variation day with buying prints at the lows again
#) vwap of the day was at 8260 with volume of 75.4 L in a trade which worked an 8282-8242 range of 41 points
#) Day POC was at 8248 levels
#) Vol was very poor on day .
#) The NF visited the FA at 8248 on day T+5 and managed to close above it.
#) The Profile was back in balance today and poised to either visist 8320 F higher or recheck buying near 8200 levels.
#) The OrderFlow of today shows buyers near 8245-8250..
#) Value areas are at 8270-8248-8247– 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 Oct F)
K.R.A is 8320 ( K.R.A= key reference area)
Hypo1 ) If NF auctions above 8288 it could move to 8310 and 8320 SL for this view is 8260
Hypo 2) IF NF auctions below 8246 it could move to 8214 and 8201. Sl for this view is 8278
BankNifty Oct 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-19-oct-23-oct15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The BNF profile was a normal variation day which finished near session lows
#) vwap was at 17905 with volumes of 23.3 L in a trade which worked a 18002-17850 range of 152 points.
#) day POC was at 17900 levels
#) Vol was poor on the day and BNF stayed within Friday’s spike
#) Profile stayed above the 3-1-3 profile we have been tracking
#) Value areas are at 17928-17880-17868 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/
Hypothesis :
( Based on Oct Futures)
K.R.A is 17820 ( K.R.A= key reference area)
Hypo1 ) IF BNF auctions above 17920 it could move to 17973 and 18100. Sl for this view is 17820.
Hypo 2) If BNF auctions below 17810 it could move to 17746 and 17671. SL for this view is 17910.
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.