Nifty JAN F  |
| Background / Previous Auctions : Medium Term : On Friday May 16th 2014, we saw a range of 7560- 7125 (spot prices) and we believe it forms the backdrop of the moves we may see in the Nifty for a considerable amount of time, as it was a 5 sigma event.The auction remains positive as long as we close above the highs of that day (May16).
The Monthly charts projecting targets of 8673 spot and 8825 have both been scaled even as 4 sessions remain to close out the month. The Momentum will remain up through FEB as long as the spot closes above 8610 in the cash index. Last month’s highs were at 8626
There was a failed auction noted at the lows on 17/10 at 7723 which is a reference point and support line for the future.
Weekly levels :
(On spot prices)
Support now moves up to the 8705- 8735 spot zone for expiry and the month end. The daily charts can spill the imbalance to 8936 spot above 8825
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) The NF profile was balanced and centered around 8845 F #) Volume was 101.5 L . #) vwap of the day was at 8845 well above the 8771 of yesterday #) Day Profile of 20/01 shows anomalies in structure at 8703, 8684, 8666 and 8640 which need repair in the coming sessions #) There is a failed auction noted at the lows of 8543 on – 19/01 #) There is another failed auction noted at the lows of 8427 on 15/01 #) The profile of 19/01 shows a prominent POC at 8574 which should be used by the market to assess fair value in coming sessions. #) The excess of 6th Jan is now replaced by a gap from 8348 to 8427 levels.
Hypothesis :
( Based on Futures)
K.R.A is 8875 ( K.R.A= key reference area)
Hypo1 ) If NF auctions above 8875 then it will move to 8940 and above 8942 the move is to 9005 . Sl for this view is at 8855 Vah .
Hypo2 ) If NF auctions below 8854 then it will move to 8827 and 8810 Sl for this view will be 8875.
BankNifty JAN F : |
| Background/ Previous Auctions : Medium Term-
18400 BN spot will be the key level to watch in BN over the coming weeks on a closing basis. As long as price stays above 18400 weekly closing the BN can make a move to 23500 levels. Highest volume traded in BN in 2014 was at 15100- 15200 spot levels. This 15100 will be the second layer of support in BN below 18400.
The monthly charts have hit their projected 19800 and 20020 with 4 full sessions remaining.
Weekly levels :
(based on spot prices)
19868 -19780 spot is a support band in the BN for the expiry and the rest of this month. The Imbalance objective on the monthly scale can extend to 20485 on the spot .
Observations in Today’s session :
(based on Fut prices)
#) The BNF profile stretched lower to close the gap but balanced later at close #) Volumes were at 32.6 L compared to the 25.7 L of the previous session #) vwap was at 20109 today #) Dayprofile of 20/01 shows anomalies in structure at 19752 and 19656 #) A gap remains between 19115 and 18769 F
Hypothesis :
( Based on Futures)
K.R.A is 20188 ( K.R.A= key reference area)
Hypo1) If BNF auctions above 20188 then it can move to 20370 . Sl for this view is at 20109 now
Hypo1) IF BNF auctions below 20094 then it will hit 20007/ 19830 . Sl for this view is 20188 |