We got another Neutral day in the markets today as spot 8000 got defended on the first touch after 8330 and the market rose to close at session highs. 8050F is the rising support of the market and a test of Friday’s broken 8124- 8128F the objective of the volumes we saw in closing hour today.
Nifty Nov F:
Background / Previous Auctions :
Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-02-nov-06-nov15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The NF profile was again a neutral extreme day.
#) vwap of the day was at 8050 with volume of 88.1 L in a trade which worked an 8088-8022 range of 66 points
#) Day POC was at 8040 levels
#) Auction showed buyers today from 8050 and we are looking for a retest of 8122/ 8154 and possibly 8192 as the auction moves higher
#) OrderFlow shows buying at the lows
#) Value areas are at 8066-8040-8034– for the session tomorrow. For using value areas effectively visit:http://vtrender.com/popular-market-profile-trading-setups/
#) Discl – When we mention Buyers/ Sellers we point to and infer aggressive players.
Hypothesis :
(based on Nov F)
K.R.A is 8132 ( K.R.A= key reference area)
Hypo1 ) If NF auctions above 8096 it could move to 8119 and 8132. SL for this view is 8070
Hypo 2) IF NF auctions below 8051 it could move to 8030 and 7987. Sl for this view is 8084
BankNifty Nov F:
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-02-nov-06-nov15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The BNF profile was again inside the previous session’s range
#) vwap was at 17347 again with volumes of 25.8 L in a trade which worked a 17438-17256 range of 183 points.
#) day POC was at 17310 levels
#) OrderFlow shows buying at the lows
#) Value areas are at 17394-17310-17298 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/
Hypothesis :
( Based on Nov Futures)
K.R.A is 17050 ( K.R.A= key reference area)
Hypo1 ) IF BNF auctions above 17451 it could move to 17515 and 17562. Sl for this view is 17350.
Hypo 2) If BNF auctions below 17330 it could move to 17266 and 17130. SL for this view is 17415.
All Hypos to be traded with the mentioned stops and mechanically. If in the trading room, can use the Order Flow to qualify the entry and exit for the hypos.