A quiet expiry session was rotational in nature and the index closed a few points above the series vwap. The Banknifty also formed a nice gaussian curve in a Normal day which is a powerful pattern and an indicator to a trend day to come.
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-28-sept-01-oct15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The NF operated mainly in the region of Wednesday’s profile.
#) vwap of the day was at 7879 with volume of 109.3 L in a trade which worked a 7933-7832 range of 101 points
#) Day POC was at 7890 levels near the upper half
#) The OrderFlow of today shows buyers at 7835-7860.
#) Value areas are at 7914-7890-7866– 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 7930 ( K.R.A= key reference area)
Hypo1 ) If NF auctions above 7930 it could move to 7964 and 8002. SL for this view is 7875
Hypo 2) IF NF auctions below 7862 it could move to 7827 and 7763. Sl for this view is 7905
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-28-sept-01-oct15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The BNF profile was a gaussian curve and an inside day
#) vwap was at 17271 with volumes of 23.3 L in a trade which worked a 17382-17173 range of 209 points.
#) day POC was at 17280 levels
#)OrderFlow shows an even distribution between buyers and sellers on day
#) Value areas are at 17334-17280-17226 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 17384 ( K.R.A= key reference area)
Hypo1 ) IF BNF auctions above 17384 it could move to 17455 and 17523. Sl for this view is 17266.
Hypo 2) If BNF auctions below 17244 it could move to 17172 and 17032. SL for this view is 17338.
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.