A gap down below 7940 again created a 200 point drop in the index as it dropped to next support near 7725( low of 7746) and vix hit 30 plus on the move above 25.75. Refer to weekend notes.
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-31aug-04-sept15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) The NF trended lower after an OAOR and clocked 195 points in range
#) vwap of the day was at 7858 with volume of 170.0 L in a trade which worked a 7946-7751 range of 195 points
#) Day POC was at 7890 today
#) TheOrderFlow shows sellers at the open but buyers came at 7752 + levels.
#) we auctioned below the FA point of 7961 changing the bias
#) Profile shows anomalies at 7830, 7860 and 7905. Gap between profiles is 7944- 7961.
#) Larger Auction now shows 7643 as weekly support and we believe dips to this point will be used to build positions for 7950 again
#) Value areas are at 7940-7890-7808– 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 7726 ( K.R.A= key reference area)
Hypo 1) If NF auctions above 7859 then it could move to 7924 . Sl for this view 7798.
Hypo 2) If NF auctions below 7726 it could move to 7659 and 7643. Sl for this view is 7769
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-31aug-04-sept15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) The BNF profile trended lower and had dropped 570 points by close
#) vwap was at 16733 with volumes of 47.9 L in trade which worked a 17025-16455 range of 570 points.
#) day POC was in the upper half and at 16900 levels
#) We saw sellers all day but orderflow shows small buying near the close
#) Profile has anomalies at 16668, 16713, 16803.Gap between profiles is 17025- 17090.
#) Value areas are at 16968-16896-16592 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 16355 ( K.R.A= key reference area)
Hypo 1) If BNF auctions above 16630 then it could move to 16733 and 16800 .Sl for this view is 16520
Hypo 2) If BNF auctions below 16500 then it could attempt to move to 16355 . Sl for this view is 16630
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.
We take a few more trades based on the emerging Orderflow and the role of the Big players from our live charts. Visit the Trading Room Section for more.