We had an inside day and another balanced profile in the markets. It points to an explosive move on expiry day in the indices and one which should do over a 100 points in NF. At this point the probability of the NF visiting 8436 F above or 8280 F below are almost equal.
Nifty July F :
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 and inside day and seen balancing again today.
#) vwap of the day was at 8359 with volume of 113.9 L (Less than the Previous session)
#) The NF finally crossed over VAL today and closed near POC. This after 4 sessions.
#) The failed auction at 8411 is on Day T+ 1.
#) Buying again was seen at 8336 today, the same kind as the one we had noted back on 10/ 11 july.
#) Value areas are at 8366-8358-8344 – 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 8399 then it can move to 8422 and 8436. . Sl for this view 8362
Hypo 2) If NF auctions below 8322 it can move to 8301 and 8276. Sl for this view is 8366.
BankNifty July 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-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 was also an inside day and remained in yesterday’s range
#) vwap was at 18329 with volumes of 21.5 L ( Less than the previous session)
#) Auction has the same POC and Vwap as yesterday.
#) We see a failed auction at 18907 which was the support previously and now resistance. It is on day T+3
#) A buying tail visible at 18191 today.
#) Value areas are at 18350-18320-18290 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 18426 then it can move to 18490 and 18525 . Sl for this view is 18325
Hypo 2) If BNF auctions below 18245 then it should attempt to move to 18180 and 18040 . Sl for this view is 18359