Levels and Plan for 24th July

The Buyers seen yesterday lost an opportunity to close the door on bears today and even BNF was seen losing that edge of positivity it showed yesterday. Responsive sellers were seen quickly coming back to reclaim the 8640 + handle.

 

Nifty July F :

 

Nf_Compo1

 

 

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 seen probing the highs of yesterday but gave back gains made in yesterday’s session
#)  vwap of the day was at 8623   with volume of  106.7L (Less than the Previous session)
#) Nf was seen auctioning below the POC of yesterday at 8644 all session.

#) The orderflow charts showed us sellers at 8640 plus but strong buyers at 8580.

#) The auction tried to scale above the 8653 mentioned in yesterday’s post in the first few minutes but was driven down.

#) Value areas are at 8636-8604-8598 – 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 8575 ( K.R.A= key reference area)

Hypo 1) If NF auctions above 8639  then it can move to 8663 and 8725. . Sl for this view 8591

Hypo 2) If NF auctions below 8568 it can move to 8545 and 8527. Sl for this view is 8609

 

BankNifty July F :

 Bnf_Compo

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 came close to scaling above 4 day highs but backed off
#) vwap was at 18914 with volumes of 31.2 L  ( same as  the previous session)

#) Yesterday’s anomalies at 19015 and 18950 were repaired and one at 18835 stays.

#)The zone around 19000 has now the highest volume built up in the series and the BNF is not moving away from it.
#) Day shows a Failed Auction at 18581 at the lows of 10/07 which has not been revisited.
#) Value areas are at 19020-18900-18875 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/

 

Hypothesis :

( Based on Futures)

K.R.A is 19000 ( K.R.A= key reference area)

Hypo 1) If BNF auctions above  19001 then it can move to 19098 and 19190. Sl for this view is 18908

Hypo 2) If BNF auctions below 18800 then it should attempt to move to 18654. Sl for this view is 18906.