Levels and Plan for 10th Aug

The Nifty closed the week near the prominent POC seen on wednesday. Early morning buyers seen near 8585-90 threw in the towel in a late afternoon move and the profile remained centered between the 2 distributions seen on thursday.

 

Nifty Aug F :

 

 

Nf_Compo1

 

Background / Previous Auctions :

Weekly levels : We have done a review on weekly charts at : http://vtrender.com/nifty-bn-weekly-view-spot-for-10-aug-14-aug15/

 

Observations in Today’s/ Previous sessions :

(based on Fut prices)

#) NF Profile was a Gaussian curve which closed near the center of Friday’s 2 distributions.
#)  vwap of the day was at 8599  with volume of 56.1 L (Less than the Previous session)
#) The Profile did not make a move in the second upper distribution and had a range extension lower.

#) Larger Auction looks trapped in a 130 point range between 8535F and 8662F

#) Some sellers were seen near 8640  today

#) Buying again was seen at 8336 , the same kind as the one we had noted back on 10/ 11 july.

 

#) Value areas are at 8606-8598-8590– 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 Aug F)

K.R.A is 8583 ( K.R.A= key reference area)

Hypo 1) If NF auctions above 8613  then it could move to 8643 and 8662 . Sl for this view 8584

Hypo 2) If NF auctions below 8585 it could move to 8563 and 8535. Sl for this view is 8625.

 

BankNifty Aug F :

 Bnf_Compo

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-10-aug-14-aug15/

Observations in Today’s/ Previous sessions :

(based on Fut prices)

#) The BNF profile was also a Gaussian curve
#) vwap was at 18996  with volumes of 19.5 L  ( Less than the previous session)

#) Auction was inside thursday’s range.

#) A buying tail also visible at 18305 
#) Value areas are at 19020-18995-18940 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/

 

Hypothesis :

( Based on Aug Futures)

K.R.A is 18940 ( K.R.A= key reference area)

Hypo 1) If BNF auctions above  19070 then it could move to 19125 . Sl for this view is 18940.

Hypo 2) If BNF auctions below 18940 then it could attempt to move to 18885 and 18820   . Sl for this view is 19055