Finally a day when we didn’t have a textbook neutral , but two timeframes were clearly visible in the markets as strong responsive buyers came midafternoon to arrest the slide lower . We tracked the activity though vwap but the response was not good enough to take it above IBH or near the previous session’s VAL.
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-08-feb-12-feb16/
#) The NF was a normal variation day type but with two time frames visible
#) Vwap of the session was at 7252 with volumes of 181.8 L in a session which traded a 7293-7193 range of 99 points
#) Day POC was at 7254 levels
#) The FA registered at 7606 is over 5 days old and will be marked as a big supply zone rest of this series.
#) The spike between 7434- 7375 remains a ref zone.
#) Value areas are at 7266-7254-7236– 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 in 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-08-feb-12-feb16/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The BNF was a normal variation day.
#) vwap of the session was at 14670 with volumes of 42.2 L in a session which traded a 14837-14531 range of 306 points
#) day POC was at 14864 levels
#) we see the index having broken support at 14777 and on the verge of a move to 13950/ 13180
#) Value areas are at 14696-14664-14600 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/
K.R.A is 14970 Feb F ( K.R.A= key reference area)