A normal variation day in which selling was seen again at the highs near the broken 7850 and the vwap of the previous session.The session closed just below the lows of the trend day.
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 met heavy responsive selling near the vwap of the previous trend day
#) vwap of the day was at 7801 with volume of 174.0 L in a trade which worked a 7874-7721 range of 153 points
#) Day POC was at 7800 today
#) TheOrderFlow shows sellers at the open who sold the higher prices
#) we auctioned below the FA point of 7961 changing the bias
#) Anomalies at 7830 and 7860 were cleared but 7905 remains. 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 7812-7748-7726– 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 7802 then it could move to 7855 . Sl for this view 7758.
Hypo 2) If NF auctions below 7700 it could move to 7659 and 7643. Sl for this view is 7739
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 again had dropped 570 points from open by close
#) vwap was at 16427 with volumes of 51.3 L in trade which worked a 16779-16230 range of 550 points.
#) day POC was in the lower half and at 16310 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 16528-16320-16240 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 16470 then it could move to 16660 .Sl for this view is 16320
Hypo 2) If BNF auctions below 16230 then it could attempt to move to 16115 . Sl for this view is 16330
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 theTrading Room Section for more.