On Friday the Nifty rejected the consolidation zone of 8175- 8130 in a gap up and proceeded to establish value higher. This is the 4th Straight session value has climbed higher but the immediate upside for the next session looks capped. We wait to see if the dips produce new buyers.
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 . We function with a view on different timeframes and seek an edge by understanding the interplay.. Auction Market Theory tells us where to trade. The Order Flow will show us when to trade.
Nifty June F |
| Background / Previous Auctions :Weekly levels :
We have done a review on weekly charts at : http://vtrender.com/nifty-bn-weekly-view-spot-for-22-26-june15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) NF profile was a normal variation day with value climbing higher again. #) vwap of the day was at 8215 with volume of 114.3 L (Less than the Previous session) #) Profile of today shows longs building up near 8195- 8200 levels. #) Prominent POC at 8074 on 17/06
#) Value areas are at 8242-8216-8212 – 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. ————————————————————————————————————
#) Selling tail on 02/06 from 8436 #) The profile of 01/06 has a small selling tail at 8484 F just near the POC of 22/05. #) New pull back high is at 8359 and resistance for coming sessions
Hypothesis :
( Based on June Futures)
K.R.A is 8270 ( K.R.A= key reference area)
Hypo 1) If NF auctions above 8270 it can move to 8296 and 8316 . Sl for this view is 8242.
Hypo 2) If NF auctions below 8224 then it can move to 8200 and 8181 . Sl for this view 8255
———————————————————————————————————————————————————-
BankNifty June 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-22-26-june15/
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 has a buying tail at 17650 and auctioned higher into the close #) vwap was at 17775 with volumes of 26.1 L (Less than the previous session) #) Profile shows a spike and spike rules apply at the Open. #) Value areas are at 17835-17805-17725 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/
————————————————————————————————————— #) Selling tail on 02/06 from 18774 #) Anomalies in profile at 17991 and 18072 and 18117 and 18243 all of which need repair. #) 18380 is the pull back high of the auction and should see more sellers entering if it gets there
Hypothesis :
( Based on Futures)
K.R.A is 17805 ( K.R.A= key reference area)
Hypo1 ) If BNF auctions above 17900 then it should attempt to move to 18024 Sl for this view is 17801.
Hypo 2 ) If BNF auctions below 17805 then it can drop to 17690 . Sl for this view is 17896. |