We got a failed auction at the lows today in the Nifty and at 7151 but the attempt to go higher in the closing minutes of the session was met with heavy selling who closed it back near the previous session’s range.
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-22-feb-26-feb16/
#) The NF was a neutral day with an FA at 7151
#) Vwap of the session was at 7191 with volumes of 130.4 L in a session which traded a 7236-7151 range of 86 points
#) Day POC was at 7188 levels
#) Path of least resistance is upwards to the 2 VPOC’s at 7252 and 7320
#) The spike between 7434- 7375 remains a ref zone.
#) Value areas are at 7212-7188-7172– for the session tomorrow. For using value areas effectively visit:http://vtrender.com/popular-market-profile-trading-setups/
K.R.A is 7320 Feb F ( K.R.A= key reference area)
and the trend has gone sideways 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-22-feb-26-feb16/
(based on Fut prices)
#) The BNF was an NV day
#) vwap of the session was at 14302 with volumes of 29.9 L in a session which traded a 14418-14210 range of 208 points
#) day POC was at 14292 levels
#) The excess at 14588 remains
#) The FA seen on 12/02 at 13812 in on day T+5
#) Value areas are at 14340-14292-14244 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/
K.R.A is 14625 Feb F ( K.R.A= key reference area)
and the trend has gone sideways again.