It was a quieter settlement and the spot finished at the yearly support it broke on Monday in a trade which did not leave a lot of clues for the next session. The 2 profiles were a DD but sellers were seen coming at the highs as we closed away the series.
Nifty Sept 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 was a DD which closed near session highs
#) vwap of the day was at 7949 with volume of 132.6L in a trade which worked a 7999-7891 range of 107 points
#) The Composite Profile of the last 4 sessions now is balanced.
#) Larger Auction may be getting ready to move away from the volatile 200 point range of 7750- 7950 it has been in
#) Value areas are at 7996-7990-7932– 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 Sept F)
K.R.A is 8027 ( K.R.A= key reference area)
Hypo 1) If NF auctions above 8028 then it could move to 8072 and 8101 . Sl for this view 7968.
Hypo 2) If NF auctions below 7948 it could move to 7918 and 7891. Sl for this view is 7999
BankNifty Sept 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 was also a DD which closed at the higher end
#) vwap was at 17254 with volumes of 24.2 L in trade which worked a 17367-17151 range of 216 points.
#) Value areas are at 17358-17328-17220 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/
Hypothesis :
( Based on Sept Futures)
K.R.A is 17466 ( K.R.A= key reference area)
Hypo 1) If BNF auctions above 17466 then it could move to 17570 .Sl for this view is 17360
Hypo 2) If BNF auctions below 17278 then it could attempt to move to 17213 . Sl for this view is 17369