In yesterday’s overview we spoke on 8085 spot as a potential target of the auction. The Index clocked 8094 today but was straight down after the big trend day yesterday ( no bounce) leaving question marks on any technical bounce which may come .
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 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 trended down from the Open and only late afternoon we saw a response from buyers. #) vwap of the day was at 8152 with volume of 132.5. L (Less than the Previous session) #) Today’s profile also has a selling tail at 8216. #) Some late buying was seen at 8110- 8118 levels which protected further downsides. #) Profile shows anomalies at 8364 and 8276 on 02/06 which need a revisit and repair. #) New pull back high is at 8359 and resistance for coming sessions #) Selling tail on 02/06 from 8436 #) Value areas are at 8168-8136-8104 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 8107 ( K.R.A= key reference area)
Hypo 1) If NF auctions below 8107 then it can move to 8067 and 8014 . Sl for this view 8166.
Hypo 2) If NF auctions above 8194 it can move to 8234 and 8305 . Sl for this view is 8166.
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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 normal variation day which showed early buyers, then liquidation and some more buyers at the lows #) vwap was at 17720 with volumes of 39.1 L (Less than the previous session) #) Selling was seen near 17810 early in the session after IB. #) Anomalies in 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 17820-17694-17604 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 17810( K.R.A= key reference area)
Hypo1 ) If BNF auctions above 17810 then it should attempt to move to 17905 and 18029.. Sl for this view is 17720
Hypo 2 ) If BNF auctions below 17660 then it should drop to 17540 and 17310 . Sl for this view is 17776. |