We saw a buying program launched at the lows today near 8075-8085 which looked like it had steam to take it up to the earlier sellers near 8192 F and possibly 8245F . But through next week the broken 8250 F zone will resist all recover efforts. It remains a ‘sell on rise’ market.
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  |
| 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 saw responsive buy programs from the lows near 8075-8085 #) vwap of the day was at 8120 with volume of 110.5. L (Less than the Previous session) #) Today’s profile has an FA at 8164.
#) Value areas are at 8156-8132-8108 – 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. ———————————————————————————————————— #) Selling tail on 02/06 from 8436 #) The profile of 01/06 has a small selling tail at 8484 F just near the POC of 22/05. #) New pull back high is at 8359 and resistance for coming sessions #) Profile shows anomalies at 8364 and 8276 on 02/06 which need a revisit and repair.
Hypothesis :
( Based on June Futures)
K.R.A is 8110 ( K.R.A= key reference area)
Hypo 1) If NF auctions below 8110 then it can move to 8074 and 8037 . Sl for this view 8136.
Hypo 2) If NF auctions above 8157 it can move to 8185 and 8222 . Sl for this view is 8106.
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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 neutral day which closed at dpoc #) vwap was at 17683 with volumes of 38.5 L (Less than the previous session) #) Selling was seen near 17820 again today #) 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 17812-17732-17644 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 17860( K.R.A= key reference area)
Hypo1 ) If BNF auctions above 17860 then it should attempt to move to 17975 and 18069.. Sl for this view is 17690
Hypo 2 ) If BNF auctions below 17620 then it should drop to 17500 and 17234 . Sl for this view is 17776. |
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