We had a small hint of a balance beginning to form today in a market which saw responsive buying again on all dips. Both instruments finished at vwap or fairest price today.
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 day with response seen at the lows . #) vwap of the day was at 8371 with volume of 134.3 L (More than the Previous session) #) Profile of today shows buying coming near 8335 and 8350 to counter the selling seen higher. #) In keeping with the template view of 02/06 we auctioned to the base of the single prints of that profile at 02/06 #) A move above 8400 F will take it 40 points higher to 8442 VPOC.
#) Value areas are at 8388-8374-8366 – 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.
Hypothesis :
( Based on June Futures)
K.R.A is 8404 ( K.R.A= key reference area)
Hypo 1) If NF auctions above 8404 it can move to 8426 and 8443 . Sl for this view is 8372.
Hypo 2) If NF auctions below 8358 then it can move to 8334 and 8285 . Sl for this view 8389
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BankNifty June 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-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 was also a Normal day #) vwap was at 18380 with volumes of 35.7 L (Less than the previous session) #) Profile shows a prominent POC at 18400. #) Value areas are at 18440-18404-18340 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/
————————————————————————————————————— #) Selling tail on 02/06 from 18774
Hypothesis :
( Based on Futures)
K.R.A is 18474 ( K.R.A= key reference area)
Hypo1 ) If BNF auctions above 18474 then it should attempt to move to 18552 and 18632 Sl for this view is 18401.
Hypo 2 ) If BNF auctions below 18325 then it can drop to 18247 and 18195 . Sl for this view is 18406. |