Levels and Plan for 29th July

We had a balanced profile and a gaussian distribution today after the trend day yesterday. Buyers were seen climbing back into the auction after staying away all day yesterday.

 

Nifty July F :

 

 

Nf_Compo1

 

Background / Previous Auctions :

Weekly levels : We have done a review on weekly charts at : http://vtrender.com/nifty-bn-weekly-view-spot-for-27-july-31-july15/

The nifty view has been updated in the above post on 27/07

Observations in Today’s/ Previous sessions :

(based on Fut prices)

#) NF Profile was seen balancing today.
#)  vwap of the day was at 8372  with volume of  132.9 L (Same as  the Previous session)
#) Again today the entire session was below VAL and one attempt to cross above VAL was met with failure.

#) We see a failed auction at 8411 today.

#) Buying was seen at 8331 today, the same kind as the one we had noted back on 10/ 11 july.

#) However the close was weak below 8362 F and the NF runs the risk of seeing 8220 in the coming week .

#) Value areas are at 8394-8374-8356 – 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 F)

K.R.A is 8322 ( K.R.A= key reference area)

Hypo 1) If NF auctions above 8382  then it can move to 8408 and 8450. . Sl for this view 8322

Hypo 2) If NF auctions below 8322 it can move to 8301 and 8276. Sl for this view is 8361.

 

BankNifty July F :

 Bnf_Compo

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-27-july-31-july15/

The Banknifty view has been updated in the above post on 27/07

Observations in Today’s/ Previous sessions :

(based on Fut prices)

#) The BNF profile auctioned was a normal distribution with a prominent poc
#) vwap was at 18314 with volumes of 31.5 L  ( Same the previous session)

#) Auction was in the lower range of yesterday’s trading

#) We see a failed auction at 18907 which was the support previously and now resistance. It is on day T+2

#) A buying tail visible at 18191 today.
#) Value areas are at 18370-18315-18285 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/

 

Hypothesis :

( Based on Futures)

K.R.A is 18245 ( K.R.A= key reference area)

Hypo 1) If BNF auctions above  18403 then it can move to 18478 and 18555 . Sl for this view is 18255

Hypo 2) If BNF auctions below 18245 then it should attempt to move to 18180 and 18040 . Sl for this view is 18359