Another trend day today in NF and BNF measured 227 and 883 points in the indices resp. as the good work done on Friday and Monday got undone in another Bearish Flip. At the close the weekly had also turned around leaving 8140 and 8085 spot as potential targets after a small bounce.
In the Paras below you will find my daily plan for the day at the bottom with weekly support and resistance levels updated on the spot We will update the Medium term outlook at the close of this month. We function with a view on different timeframes and seek an edge by understanding the interplay.. Auction Market Theory tells us where to trade. The Order Flow will show us when to trade.
| Nifty June F
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| Background / Previous Auctions :Weekly levels :
We have done a review on weekly charts at : http://vtrender.com/nifty-bn-weekly-view-spot-for-1-5-june15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) NF profile was a trend day which stayed below neutral extreme lows on hevy selling #) vwap of the day was at 8320 with volume of 207.5. L (More than the Previous session) #) Profile shows anomalies at 8364 and 8276 which need a revisit and repair. #) Pull back high of of 29/05 at 8376 was broken on heavy volumes #) New pull back high is at 8359 and resistance for coming sessions #) Selling tail on 02/06 from 8436 #) We anticipate a bounce to 8359- 8364 to meet renewed sellers. #) Value areas are at 8390-8334-8278 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. ————————————————————————————————————
#) The profile of 01/06 has a small selling tail at 8484 F just near the POC of 22/05.
Hypothesis :
( Based on June Futures)
K.R.A is 8210 ( K.R.A= key reference area)
Hypo 1) If NF auctions below 8210 then it can move to 8186 and 8145 . Sl for this view 8246.
Hypo 2) If NF auctions above 8258 it can move to 8296 and 8315 . Sl for this view is 8216.
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BankNifty June F :
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| 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-1-5-june15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) The BNF profile was a trend day which also closed at session lows. #) vwap was at 18312 with volumes of 53.1 L (More than the previous session) #) Pull back high at 18600 on 29/05 did not support the index today #) Pull back high of the day of 27/05 at 18410 was also broken #) Anomalies in today’s profile at 17991 and 18072 and 18117 and 18243 all of which need repair. #) 18380 is the pull back high of the auction and should see more sellers entering if it gets there #) Selling tail on 02/06 from 18774 #) Value areas are at 18768-18344-18208 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/
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Hypothesis :
( Based on Futures)
K.R.A is 17870( K.R.A= key reference area)
Hypo1 ) If BNF auctions above 17991 then it should attempt to move to 18117 and 18185.. Sl for this view is 17830
Hypo 2 ) If BNF auctions below 17815 then it should drop to 17684 . Sl for this view is 17915. |