The day and the week closed at the highest point as the bull who took control early on the dip on Monday kept up the pressure taking value higher during the week
Nifty July F :
Background / Previous Auctions :
Weekly levels : We have done a review on weekly charts at : http://vtrender.com/nifty-bn-weekly-view-spot-for-06-july-10-july15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) NF Profile auctioned quickly through the value area of thursday and created value higher
#) vwap of the day was at 8472 with volume of 91.3 L (Less than the Previous session)
#) The Day type was a Normal day with limited range extension.
#) The failed auction at 8476 seen on Thursday was covered today.
#) 8430 continues to show buying.
#) Pull back low at 8404 of the trend day of Wed is support.
#) Second support into the coming week is placed at 8360.
#) Value areas are at 8494-8482-8472 – 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 July Futures)
K.R.A is 8464 ( K.R.A= key reference area)
Hypo 1) If NF auctions above 8525 it can move to 8557 and 8595. Sl for this view is 8495
Hypo 2) If NF auctions below 8464 then it can move to 8432 and 8398. Sl for this view 8498
BankNifty July 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-06-july-10-july15/
The Banknifty view is in the above link below the Nifty view.
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) The BNF was again a normal distribution which finished higher in a spike
#) vwap was at 18645 with volumes of 27.8 L (More than the previous session)
#) Profile still shows an anomaly at 18485 .
#) The day finished in a spike and spike rules apply at the open tomorrow
#) Value was created higher again in the process
#) Value areas are at 18690-18660-18605 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/
Hypothesis :
( Based on Futures)
K.R.A is 18755 ( K.R.A= key reference area)
Hypo1) If BNF auctions above 18755 then it should attempt to move to 18827 and 18907. Sl for this view is 18690
Hypo 2) If BNF auctions below 18672 then it can drop to 18595 and 18520. Sl for this view is 18755.