So often we have seen and discussed in our trading room that the first 15 minutes of Opening volume on a Monday this series (and some of the last) has been reversed and the same played out today yet again. The Nifty was relatively unchanged at close.
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 saw 2 failed range extensions today and finished near the POC of yesterday.
#) vwap of the day was at 8602 with volume of 74.3 L (A little more than the Previous session)
#) The Day type was a normal day with limited range extensions
#) We see a poor low in today’s profile at 8576.
#) Profile is seen balancing after the IPM from 8360 levels.
#) Value areas are at 8620-8600-8582 – 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 8650 ( K.R.A= key reference area)
Hypo 1) If NF auctions above 8650 then it can move to 8692 and 8718. . Sl for this view 8613
Hypo 2) If NF auctions below 8601 it can move to 8577 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 trended lower from the Open but saw responsive buying from weekly supports mentioned .
#) vwap was at 19021 again with volumes of 30 L (More than the previous session)
#) Day shows a Failed Auction at 18581 at the lows of 10/07 which has not been revisited.
#) Value areas are at 19130-19080-18970 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 18983 then it should attempt to move to 18874. Sl for this view is 19105