Levels and Plan for 23rd July

The NF and BNF opened up softly just below spike lows but once they entered spike lows the spike rules took over and further propelled the Nifty index in particular beyond the highs seen this week.


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 was a trend day which reversed the spike seen yesterday
#)  vwap of the day was at 8605   with volume of  124.7L (More than the Previous session)
#) Spike rules mentioned yesterday played out and the NF auctioned above spike highs in the second part of the session

#) Anomalies seen at 8600 ad 8580 were repaired

#) auction key is at 8653 tomorrow for continuation. However if it stays below then 8610- 8652 play is a possibility

#) Value areas are at 8660-8644-8594 – 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 8607 ( K.R.A= key reference area)

Hypo 1) If NF auctions above 8652  then it can move to 8692 -8703. . Sl for this view 8607

Hypo 2) If NF auctions below 8607 it can move to 8587 and 8527. 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 was an open rejection reverse which forced tyesterday sellers off as the day progressed
#) vwap was at 18908 with volumes of 34.9 L (More than  the previous session)

#) Day shows anomalies at 19015 and 18950 and 18835.

#) The BNF went past 18966 again in the second half and has now set sights on 19200/ 19448 again.
#) Day shows a Failed Auction at 18581 at the lows of 10/07 which has not been revisited.
#) Value areas are at 19100-19060-18835 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/


Hypothesis :

( Based on Futures)

K.R.A is 18905 ( K.R.A= key reference area)

Hypo 1) If BNF auctions above  19105 then it can move to 19208 and 19280. Sl for this view is 18978

Hypo 2) If BNF auctions below 18905 then it should attempt to move to 18749. Sl for this view is 18996.