A neutral extreme on Thursday was followed by a neutral center on Friday. The IPM from 8005 NF is steadily pushing value lower and by Friday close had shaved off 195 points in 3 sessions. we did get a balance on Friday which could signal a pause or a consolidation next. Remember we are coming out of a 2-day balance of Monday and Tuesday, an event which we tracked live here on the blog.
Nifty Dec F:
Background / Previous Auctions :
Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-07-dec-11-dec15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The NF was a Neutral center today
#) Vwap of the session was at 7832 with volumes of 89.2 L in a session which traded a 7856-7810 range of 47 points
#) Day POC was at 7820 levels.
#) The Profile shows us an FA at 7949Fand is on day T+1
#) we see a composite POC at 7984 in the profile chart posted above and the bias is lower below it.
#) Value areas are at 7836-7820-7818– for the session tomorrow. For using value areas effectively visit:http://vtrender.com/popular-market-profile-trading-setups/
Hypothesis :
(based on Dec F)
K.R.A is 7894 ( K.R.A= key reference area)
Hypo1 ) If NF auctions above 7844 it could move to 7861 and 7888. SL for this view is 7815
Hypo 2) IF NF auctions below 7812 it could move to 7797 and 7778. Sl for this view is 7836
BankNifty Dec 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-07-dec-11-dec15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The BNF was a normal variation day
#) Vwap was at 16994 with volumes of 22.1 L in a session which traded a 17009-16880 range of 142 points
#) day POC was at 16980 levels
#) Value areas are at 17028-16980-16974 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/
Hypothesis :
( Based on Nov Futures)
K.R.A is 17228 ( K.R.A= key reference area)
Hypo1 ) IF BNF auctions above 17060 it could move to 17111 and 17178. Sl for this view is 16960.
Hypo 2) If BNF auctions below 16960 it could move to 16918 and 16843. SL for this view is 17050.
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.