RBI day was volatile and in NF we saw the 100 point 2-way moves again in 60 minutes, after a pause of a few sessions. OrderFlow above 7830 did not show huge buying and we look forward to a quieter session tomorrow to repair the OrderFlow imbalance.
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 profile saw the gap down open below 7760 being rejected yet again but finished in the large TPO distribution of past few weeks.
#) vwap of the day was at 7831 with volume of 231.3 L in a trade which worked a 7969-7705 range of 265 points
#) Day POC was at 7734 levels near the lower half
#) Profile met the FA point of 7929 today but was not successful in closing above it.
#) The OrderFlow of today shows buyers at 7705-7730 but above 7830 the sellers got an upper hand
#) We see 7830 as an important support tomorrow below which the auction can again drop to 7770 and lower
#) Value areas are at 7893-7734-7707– 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 7815 ( K.R.A= key reference area)
Hypo1 ) If NF auctions above 7898 it could move to 7947 and 8032. SL for this view is 7845
Hypo 2) IF NF auctions below 7830 it could move to 7772 and 7680. Sl for this view is 7875
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 met buyers at the lows mentioned in the weekly report and marched higher
#) vwap was at 17183 with volumes of 84.5 L in a trade which worked a 17569-16670 range of 900 points.
#) day POC was at 17298 levels
# Profile shows support at 17152 for he session tomorrow
#)OrderFlow shows sellers selling the higher prices near 17470 again today
#) Value areas are at 17505-17298-17118 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 17152 ( K.R.A= key reference area)
Hypo1 ) IF BNF auctions above 17490 it could move to 17571 and 17650. Sl for this view is 17390.
Hypo 2) If BNF auctions below 17152 it could move to 17050. SL for this view is 17248.
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.