The NF pushed back into the balance zone of 7820- 7860 today, effectively cancelling the spike of Friday. The seller of 7885 is seen marginally prevailing over the old buy business from 7777.
Nifty Nov F:
Background / Previous Auctions :
Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-23-nov-27-nov15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The NF was a Normal Variation day and closed at vwap/day center
#) Vwap of the session was at 7854 with volumes of 126.7 L in a session which traded a range of 7879-7822 of 57 points
#) Day POC was at 7866 levels
#) NF was inside Friday’s range
#) Dec Futures are showing a short buildup over 7890 F currently
#) The Profile of the last few sessions is a largish P showing non-acceptance below 7800 and accepting 7820- 7860 as value.
#) Value areas are at 7868-7866-7850– 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 Nov F)
K.R.A is 7918 ( K.R.A= key reference area)
Hypo1 ) If NF auctions above 7874 it could move to 7894 and 7918. SL for this view is 7835
Hypo 2) IF NF auctions below 7833 it could move to 7814 and 7783. Sl for this view is 7867
BankNifty Nov 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-23-nov-27-nov15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The BNF was a normal variation day and closed at POC
#) Vwap was at 17062 with volumes of 25.6L in a session which traded a range of 17137-16961 of 176 points
#) day POC was at 17058 levels
#) BNF was inside Friday’s range
#) Excess at 17349 .
#) Excess at 16626 and 16760 still remains, though.
#) Larger structure is hinting at a neat balance between these 2 excesses.
#) Value areas are at 17100-17058-17046 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/
Hypothesis :
( Based on Nov Futures)
K.R.A is 17345 ( K.R.A= key reference area)
Hypo1 ) IF BNF auctions above 17114 it could move to 17175 and 17257. Sl for this view is 17020.
Hypo 2) If BNF auctions below 16997 it could move to 16936 and 16840. SL for this view is 17095.
All Hypos to be traded with the mentioned stops and mechanically. If in the trading room, can use the Order Flow to qualify the entry and exit for the hypos.