Friday late afternoon sellers were dominant at the open again today pushing the market below 8078 buyer zone who wilted and created a further drop to 8031 below last week lows. At the close there was no signs of the auction from Last tuesday showing signs of ending which means the market has to dip further to get buyers interested.
In the Paras below you will find my daily plan for the day at the bottom with weekly support and resistance levels updated on the spot . We function with a view on different timeframes and seek an edge by understanding the interplay.. Auction Market Theory tells us where to trade. The Order Flow will show us when to trade.
Nifty June F 
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| Background / Previous Auctions :
Weekly levels :
We have done a review on weekly charts at : http://vtrender.com/nifty-bn-weekly-view-spot-for-8-12-june15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) NF profile was a slow Open drive which auctioned below neutral extreme lows all morning. #) vwap of the day was at 8064 with volume of 94.2 L (Less than the Previous session) #) Profile shows a selling tail from 8124 levels. #) Profile also has poor lows though a bounce was attempted at 8032 during the session. #) 8030 is on watch early in the session on Tuesday
#) Value areas are at 8080-8068-8048 – 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. ———————————————————————————————————— #) Selling tail on 02/06 from 8436 #) The profile of 01/06 has a small selling tail at 8484 F just near the POC of 22/05. #) New pull back high is at 8359 and resistance for coming sessions
Hypothesis :
( Based on June Futures)
K.R.A is 8010 ( K.R.A= key reference area)
Hypo 1) If NF auctions below 8010 then it can move to 7965 and 7939 . Sl for this view 8044.
Hypo 2) If NF auctions above 8077 it can move to 8108 and 8193 . Sl for this view is 8030.
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BankNifty June F :
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| 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-8-12-june15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) The BNF profile was mostly a Normal day which saw buying responses at dips #) vwap was at 17424 with volumes of 26.5 L (Less than the previous session) #) Buyers were seen at most dips in the BankNifty today. #) Selling tail at the Open at 17576 today. #) Value areas are at 17448-17416-17368 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/
————————————————————————————————————— #) Selling tail on 02/06 from 18774 #) Anomalies in profile at 17991 and 18072 and 18117 and 18243 all of which need repair. #) 18380 is the pull back high of the auction and should see more sellers entering if it gets there
Hypothesis :
( Based on Futures)
K.R.A is 17310 ( K.R.A= key reference area)
Hypo 1 ) If BNF auctions below 17310 then it should drop to 17231 and 17168 . Sl for this view is 17426.
Hypo2 ) If BNF auctions above 17480 then it should attempt to move to 17564 and 17746.. Sl for this view is 17310
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