A sharp selloff accelerated by close after a gap down open which took apart weekly supports as well as year lows and dropped the Nifty to 7771 levels. With a volume which crossed 335 L just in Nifty today we saw a much higher time frame operating in the markets than otherwise seen.
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 gapped lower and closed at lows today
#) vwap of the day was at 7941 with volume of 335.5 L in a trade which worked a 8074-7771 range of 303 points
#) The Profile closed again in Imbalance today and was below VAL as well.
#) OrderFlow shows sellers at 8050 and 7930 and much heavier selling below 7890 aug F levels
#) Larger Auction has support at 7700- 7724 F tomorrow at open , however a break below may bring 7564 and 7483.
#) Value areas are at 8060-7962-7920– 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 7700 ( K.R.A= key reference area)
Hypo 1) If NF auctions above 7806 then it could move to 7864 and 7902 . Sl for this view 7720.
Hypo 2) If NF auctions below 7700 it could move to 7595 Sl for this view is 7796
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 gapped lower and continued lower all day
#) vwap was at 17077 with volumes of 41.3 L in trade which worked a 17499-16680 range of 820 points.
#) OrderFlow shows the selling below 17000 to be emotional and we believe that should there be a recovery BN would lead it above 17000.
#) Value areas are at 17388-17348-16996 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 17000 ( K.R.A= key reference area)
Hypo 1) If BNF auctions above 17000 then it could move to 17118 and 17254 .Sl for this view is 16825
Hypo 2) If BNF auctions below 16680 then it could attempt to move to 16426 . Sl for this view is 16825