A nice developing balance was interrupted in the last 40 minutes of the session in a spike which had retraced fully by the close. Even though we saw nice buying at 8222 and 8250 levels earlier in the day, the OrderFlow showed sellers hitting the bids furiously in that spike.
Nifty Aug F :
Background / Previous Auctions :
Weekly levels : We have done a review on weekly charts at : http://vtrender.com/nifty-bn-weekly-view-spot-for-24-aug-28-aug15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) The NF profile shows a defence of 8220 levels but sellers above 8285 F
#) vwap of the day was at 8261 with volume of 169.5 L in a trade which worked a 8324-8222 range
#) The Profile closed again in Imbalance today and was below VAL as well.
#) OrderFlow shows sellers at 8480 and at 8420 levels and on friday at 8320 Levels.
#) Larger Auction is now pointing to 8150 being visited in the next few sessions.
#) Value areas are at 8268-8256-8234– 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 Aug F)
K.R.A is 8150 ( K.R.A= key reference area)
Hypo 1) If NF auctions above 8180 then it could move to 8217 and 8254 . Sl for this view 8140.
Hypo 2) If NF auctions below 8140 it could move to 8078 Sl for this view is 8186.
BankNifty Aug 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-24-aug-28-aug15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) The BNF profile shows sellers above 18050 but buyers defending 17850 levels
#) vwap was at 17959 with volumes of 41.3 L in trade which worked a 18127-17855 range
#) Value areas are at 18015-17965-17895 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/
Hypothesis :
( Based on Aug Futures)
K.R.A is 17685 ( K.R.A= key reference area)
Hypo 1) If BNF auctions above 17859 then it could move to 17954 .Sl for this view is 17759
Hypo 2) If BNF auctions below 17627 then it could attempt to move to 17472 . Sl for this view is 17755
0 thoughts on “Levels and Plan for 24th Aug”
Tracking Hypos
NF Opened and traded below 8078 objective!
BNF Opened near 17472 objective and traded below for rest of the day