Expiry day saw the spike lows of the previous session holding and a push higher to take out the poor highs seen the previous day.The series expired close to where it had begun.
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 July 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 stayed above spike lows and repaired the poor highs seen at 8418 the other day #) vwap of the day was at 8397 with volume of 99.1 L (Less than the Previous session) #) Profile of today shows anomaly at 8392 #) It also shows buyers at 8356 #) In keeping with the template view of 02/06 we auctioned to the base of the single prints of that profile at 02/06 #) the auction is clearly now into Step 2 post the IPM and creating a large balance which will keep the market sideways for some time.
#) Value areas are at 8438-8424-8384 – 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 Futures)
K.R.A is 8392 ( K.R.A= key reference area)
Hypo 1) If NF auctions above 8438 it can move to 8466 and 8499 . Sl for this view is 8401.
Hypo 2) If NF auctions below 8392 then it can move to 8371 and 8356. Sl for this view 8428
———————————————————————————————————————————————————-
BankNifty July 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-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 is still pushing the edges of the 3 day balance it has been in #) vwap was at 18434 with volumes of 20.4 L (Less than the previous session) #) Profile saw buying at the lows early in the session near 18320. #) Value areas are at 18550-18520-18400 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/
—————————————————————————————————————
Hypothesis :
( Based on Futures)
K.R.A is 18441 ( K.R.A= key reference area)
Hypo1 ) If BNF auctions above 18525 then it should attempt to move to 18605. Sl for this view is 18421.
Hypo 2 ) If BNF auctions below 18412 then it can drop to 18355 and 18315 . Sl for this view is 18526. |