The Nifty stayed below the composite POC of last week of 8260 levels and moved to 8217, the low of last week. After the b shaped long liquidation profile of yesterday, we got a neutral center today and should support of 8220 be violated tomorrow, the risk of 8155 spot and 8111 is high. Upside of 8330 possible now only if 8260 is taken back by bulls.OTOH 8111 is the big support for the buyers from 7750 levels.
Nifty Oct F:
Background / Previous Auctions :
Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-26-oct-30-oct15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The NF profile was a neutral center
#) vwap of the day was at 8242 with volume of 95 L in a trade which worked an 8254-8225 range of 30 points
#) Day POC was at 8242 levels
#) 8284 POC and 8296 pull back highs were not taken by the bulls today however the auctio finished a neutral center
#) Auction came back into the range of last week and stopped at the VAL of last week.
#) OrderFlow was mixed today.
#) Value areas are at 8244-8242-8234– 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 Oct F)
K.R.A is 8340 ( K.R.A= key reference area)
Hypo1 ) If NF auctions above 8260 it could move to 8314 and 8344. SL for this view is 8225
Hypo 2) IF NF auctions below 8224 it could move to 8165 and 8132 . Sl for this view is 8266
BankNifty Oct 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-26-oct-30-oct15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The BNF profile was mostly within the value of yesterday though a bit lower
#) vwap was at 17815 with volumes of 24.9 L in a trade which worked a 17880-17712 range of 167 points.
#) day POC was at 17840 levels
#) Pull back highs at 17935 in the BNF would come into play for rest of expiry week
#) OrderFlow shows sellers at the highs again
#) Value areas are at 17844-17838-17790 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/
Hypothesis :
( Based on Oct Futures)
K.R.A is 17650 ( K.R.A= key reference area)
Hypo1 ) IF BNF auctions above 17885 it could move to 17935 and 17993. . Sl for this view is 17795.
Hypo 2) If BNF auctions below 17770 it could move to 17710 and 17645. SL for this view is 17885.
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.