Levels and Plan for 8th July

The imbalance of yesterday was followed by a balance but the auction shifted gears late in the closing hours and reached KRA from where an initial buying response was seen to close it back at vwap. We also saw signs of an excess at 8561 today in NF and liquidation near BRN of 19000 which taken with an MO of 69 today points to some profit booking ahead.

 

Nifty July F :

 

 

Nf_Compo1

 

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 found buying support at the lows near the close but was a normal distribution for most of the session
#)  vwap of the day was at 8529  with volume of  105.1 L (Less than the Previous session)
#) The Day type was a normal variation with single prints at both extremes.

#) Anomaly at 8486 and at 8514  was repaired .
#) The profile of 06/07 still  shows anomalies at 8434 .
#) 8430 continues to show buying and got reconfirmed today
#) First support for the auction tomorrow is at 8466

#) Value areas are at 8546-8538-8516 – 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 8499  ( K.R.A= key reference area)

 

Hypo 1) If NF auctions below 8499 it can move to 8472 and 8426. Sl for this view is 8535

Hypo 2) If NF auctions above 8554  then it can move to 8581 and 8615 . Sl for this view 8514

 

BankNifty July F :

 Bnf_Compo

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 also a normal distribution with a late spike which got retraced before close
#) vwap was at 18866 with volumes of 30.8 L (Less than the previous session)
#) The previous  anomaly at 18730 and 18795  was repaired.
#) However 06/07 profile left behind anomalies at 18575 which are still not done.
#) Buying tail seen at 18415
#) Value areas are at 18910-18820-18750 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/

 

Hypothesis :

( Based on Futures)

K.R.A is 18722 ( K.R.A= key reference area)

 

Hypo1) If BNF auctions below 18710  then it should attempt to move to 18620 and 18501. Sl for this view is 18795

Hypo 2) If BNF auctions above  18825 then it can move to 18915 and 18995. Sl for this view is 18715.