Today was day 6 of value being created higher. The weekly objective near 8263 is close by and it remains to be seen whether we get a dash up to 8352F on Friday/ Monday before MO starts playing out it’s tune. Weekly support is now looking strong at 8140.
Nifty Oct F:
Background / Previous Auctions :
Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-05-oct-09-oct15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The NF profile tested yvwap and rose higher into the close
#) vwap of the day was at 8179 with volume of 110.1 L in a trade which worked an 8204-8142 range of 63 points
#) Day POC was at 8194 levels in the upper half
#) Profile created value higher for the sixth straight day.
#) The OrderFlow of today shows buyers near 8140- 8170 and the zone above 8100 is now much healthier for buyers than on Monday
#) We see the weekly auction getting support near 8130 and moving towards 8260.
#) Value areas are at 8196-8194-8172– 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 Oct F)
K.R.A is 8130 ( K.R.A= key reference area)
Hypo1 ) If NF auctions above 8220 it could move to 8263 and 8284. SL for this view is 8180
Hypo 2) IF NF auctions below 8175 it could move to 8144 and 8099. Sl for this view is 8205
BankNifty Oct 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-05-oct-09-oct15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The BNF profile was an inside day
#) vwap was at 17670 with volumes of 31.5 L in a trade which worked a 17748-17557 range of 192 points.
#) day POC was at 17688
# OrderFlow was neutral today
#) Profile is a 3-1-3 in the making with excess at both ends. Bias remains positive above 17530 but clear supply near 17850 visible.
#) Value areas are at 17718-17688-17592 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/
Hypothesis :
( Based on Oct Futures)
K.R.A is 17340 ( K.R.A= key reference area)
Hypo1 ) IF BNF auctions above 17750 it could move to 17810 and 17875. Sl for this view is 17650.
Hypo 2) If BNF auctions below 17620 it could move to 17556 and 17426. SL for this view is 17718.
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.