We got another neutral extreme in the markets today. This leg of the Auction down is eerily similar to the one we saw in January between 7435 and 7620 . In that bracket also we had witnessed a drop from 7510 levels which were not covered for a long time. The next day Jan18 the auction went down to 7380. Something similar happened today.
NIFTY FEB F:
Background / Previous Auctions :
Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-01-feb-05-feb16/
#) The NF was another neutral extreme day and the seller dominated towards the close for the second straight day
#) Vwap of the session was at 7403 with volumes of 121.2 L in a session which traded a 7433-7375 range of 58 points
#) Day POC was at 7401 levels
#) The FA registered at 7606 is on day T+2.
#) we saw 2 buyers at 7444 and 7512 in the leadup to 7607 and both under water for now this series
#) We stayed below the Spike at 7542 – 7448 in the auction of today
#) Further confirmation of new selling in the index will be if the weekly closes below 7310.
#) Value areas are at 7413-7401-7389– for the session tomorrow. For using value areas effectively visit:http://vtrender.com/popular-market-profile-trading-setups/
K.R.A is 7444 Feb F ( K.R.A= key reference area)
and the seller is gaining control of the trend again.
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-01-feb-05-feb16/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The BNF was a normal day
#) vwap of the session was at 14926 with volumes of 37.2 L in a session which traded a 15011-14800 range of 211 points
#) day POC was at 14920 levels
#) Spike at 15260-15056 was not covered in the auction of today
#) we see the index having support at 14777 low marked today but below that could signal a fresh impulse to 13950/ 13180
#) Value areas are at 14968-14920-14888 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/
K.R.A is 15174 Feb F ( K.R.A= key reference area)