On Wednesday the markets had gapped up well above the range of the previous range. That open saw a rejection and a reverse as we had mentioned in our last Market Profile report here – https://vtrender.in/market-profile-analysis-dated-17th-oct/
An Open rejection is about the opposite players showing up in the auction and in Wednesday’s case it was the sellers who drove the auction aggressively through the open and down lower.
On Friday at the Open we had another gap and it presented an opportunity for responsive buyers to emerge and drive the index right back up, but instead, we saw responsive sellers emerge and the index dropped to a low of 10246 before a close came at vwap.
The 2 auctions on Wednesday and Friday would tell you that sellers are much in control again and driving the auction currently.
I am speaking at depth on how to read the information from the markets in Mumbai on Nov 3. It’s an all-day event. I’m also doing a primer on #OrderFlow
Nifty Oct F:
Intraday and swing trading view for Nifty Futures below the chart. ( This chart is Live in the Vtrender Trading Room)
- The NF Open was an Open auction
- The day type was a Normal variation day
- Largest volume was traded at 10310 F Friday
- Vwap of the session was at 10317 with volumes of 146.2 L in a session which traded a High-Low range of 10388-10246 for 142 points
- We got an FA at 10212 which was visited on day T+3 . However, the auction did not settle below 10212.
- The other FA at 10424 stands negated.
- The vwap of 17/10 at 10558 is the resistance now for rest of series.
For the weekly and other swing levels of the Nifty go to – https://vtrender.com/support-and-resistance-levels-nifty-bank-nifty-futures/
( has monthly and weekly Profile charts updated to trade date 18/10)
Daily Zones:
- Value zones ( volume profile) are at 10352-10310-10294 tomorrow
Hypos / Estimates for the next session :
a) supply now firm at 10560-10580
b) 10340 was an expected support but is broken and now another supply zone
c) 10212 is the support
For more tradeable ideas and intraday trading strategies based on MarketProfile and the OrderFlow live charts with OrderFlow analysis Live, subscribe to the trading room. The Vtrender Trading Room hosts India’s largest MarketProfile community live every trading session from 9.15 am to 3.30 pm.
If not a Trading Room member you can get immediate access at – https://in.explara.com/e/vtrender–trading–room/checkout
BNF Oct F:
Intraday Trading strategies using OrderFlow analysis and MarketProfile done Live with a Live analysis in the Vtrender Trading Room
- The BNF Open was an Open auction
- The Day type was a Normal day
- Vwap of the day was at 25076 with Volumes of 48.6 L and a High – Low of 25320-24860 for a range of 460 points.
- Largest Volume was traded at 25076 F today
- FA seen at 24285 F on day T+8
For the weekly and other swing levels of the BankNifty go to – https://vtrender.com/support-and-resistance-levels-nifty-bank-nifty-futures/
The BN Monthly and BN weekly F charts are posted at the same link
Daily Zones:
- Value zones ( volume profile) are at 25840-25462-25405 for tomorrow
Hypos / Estimates for the next session :
a) The support is at 25160 is broken and now a resistance
b) the next supply zone is at 25460
d) supp expected at 24870 F
For more tradeable ideas and intraday trading strategies based on MarketProfile and the OrderFlow live charts with OrderFlow analysis Live, subscribe to the trading room. The Vtrender Trading Room hosts India’s largest MarketProfile community live every trading session from 9.15 am to 3.30 pm.
If not a Trading Room member you can get immediate access at – https://in.explara.com/e/vtrender–trading–room/checkout</strong