We have been pointing to the Failed Auction at 11298F as an important pivot for the rest of this series of September. There was no secure lows on the last visit below 11300 and we had got what we called a Failed Auction in Market Profile which is just an exhaustion of an existing move as sellers failed at an extension lower on Thursday last. The Open drive of Monday was the first hint that sellers were back in full force and gaining in strength and thereafter a visit to the Failed Auction was almost a certainty. The trading strategy in Market Profile is called a Failed Auction theory and the statistics around this theory indicate that a visit would be done with T+5 days of the Failed Auction. In the case we all have been witness to in the Nifty at 11298F , the failed auction re- visit happened in T+3 days. Since it is an exhaustion signal it needs to be seen through auction market theory that the seller is regaining the momentum for a visit in T+5.. I have elaborated on how to use this Trading strategy in a previous post at – https://vtrender.com/of-failed-auctions-and-revisits/
The market is at Aug lows and the biggest reference area is this FA at 11298F. Sellers would like to see volume below 11290 roughly to drive it down further to 11200 , 11163, 11073 F lower. The BUyer is expected to face resistance again at 11330/ 11350 and 11390 F higher. Any upmove to 11400 would invite shorts back to the auction.
A weekly outlook was updated on Saturday at –https://vtrender.com/weekly-outlook-for-the-week-dated-17th-sept-to-21st-sept/
Nifty Sept 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 test of supply ( OAOR)
- The day type was a Normal variation day
- Largest volume was traded at 11405 F today
- Vwap of the session was at 11382 with volumes of 103.9 L in a session which traded a High-Low range of 11438-11298 for 140 points
- FA seen at 11297 visited on day T+3
Monthly Zones:
- The vwap of the Aug series is at 11444 spot and the POC was at 11480
- The settlement day (Aug ) rollover volume point is at 11739 F.
- Highest Rollover point was at 11772 Sept F
Weekly Zones :
- The weekly profile is a bounce off a VPOC with a minor selling excess at 11600F
- Failed auction zone is 11650F
- Another Failed auction is lower at 11297 ( visited T+3)
- The 11720- 11735 scene of crime zone is added supply above the FA point of 11650
- The FA at 11297 is a very important pivot for the next auction.
Daily Zones:
- Value zones ( volume profile) are at 11426-11405-11361 for tomorrow
Plan :
a) The immediate auction now has a support at 11272- 11290
b) short is right below 11270 for 11210
c)supply at 11330 and 11350 for the auction on any upmoves
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BNF Sept F:
Intraday Trading strategies using OrderFlow analysis and MarketProfile done Live with Live analysis in the Vtrender Trading Room
- The BNF Open was an Open drive up failure
- The Day type was a Normal variation day
- Vwap of the day was at 26750 with Volumes of 45.7 L and a High – Low of 26998-26514 for a range of 485 points.
- Largest Volume was traded at 26750 F today
Monthly Zones :
- The vwap of Aug series is at 27923 spot with POC of 28280
- The settlement day rollover volume point (aug) is at 28232 F.
- Highest Rollover point was at 28232 Sept F
Weekly Zones :
-
- Supply is heavy at 27360 and 27500 right above
- The 28170 F and 27900 F has also heavy sell side volumes
- spike zone is 27960- 28130.
- support is at 26890 right below.
Daily Zones:
- Value zones ( volume profile) are at 26982-26750-26702 for tomorrow
Plan :
a) The 26650 zone has new supply
b) the 26390 zone has next support
c) Any move to 26750 should invite new sellers.
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