Session 11 of the series saw again value built higher as VAH was again defended on the drop. This is the 4th straight climb in value and dip buyers seems to be outnumbering responsive sellers.
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 
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| 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 stayed above VAH again but failed to close convincingly aabove CLVN at 8436. #) vwap of the day was at 8427 with volume of 103.9 L (Less than the Previous session) #) Buyers seen in the profile at 8384 #) LVN at 8345 NF is now the support for the coming sessions. #) day type was a normal day and indicator of a big move around the corner. #) Value areas are at 8438-8426-8418 for the session tomorrow. For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/ #) Ref lines are at 8438 and 8388 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. ———————————————————————————————————— #) Buying prints of the profile are at 8268 which will be important support below 8326 F in coming sessions. #) 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 8438 ( K.R.A= key reference area)
Hypo1) If NF auctions above 8438 then it can move to 8464 and 8496. . Sl for this view 8401
Hypo 2) If NF auctions below 8390 it can drop to 8364 and 8326 . Sl for this view is 8438.
BankNifty May F :
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| 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 was P shaped and stayed above VAH #) vwap was at 18534 with volumes of 24.3 L (Less than the previous session) #) Value areas are at 18570-18530-18510 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/ #) Ref lines are at 18590 and 18440 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 18590 ( K.R.A= key reference area)
Hypo1 ) If BNF auctions above 18628 then it should attempt to move to 18670 and 18751. Sl for this view is 18525
Hypo 2 ) If BNF auctions below 18440 then it should drop to 18390 and 18222 if 18390 breaks . Sl for this view is 18535 |