Levels and Plan for 10th July

The imbalance of yesterday was followed by a balance as the market hit the npoc of 30/06 and paused. The profile again shows a selling tail at the top as the Open was rejected again, now 3 days in a row. We are mentally ready for a trend day tomorrow.

 

 

Nifty July 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-06-july-10-july15/

 

 

Observations in Today’s/ Previous sessions :

(based on Fut prices)

#) NF Profile was an Open rejection but met buyers near yesterday lows who stalled the move down
#)  vwap of the day was at 8367  with volume of  99.6 L (Half of  the Previous session)
#) The Day type was a normal variation with a selling tail above 8394.

#) Profile of today hit the npoc of 30/06.

#) 8393- 8405 remains the zone for the buyers to cross to remain safe again else the auction can dip to 8287 F.

#) Value areas are at 8374-8346-8344 – 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 July Futures)

K.R.A is 8323  ( K.R.A= key reference area)

 

Hypo 1) If NF auctions below 8322 it can move to 8293 and 8274. Sl for this view is 8355

Hypo 2) If NF auctions above 8410  then it can move to 8451 and 8473 . Sl for this view 8378.

 

BankNifty July 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-06-july-10-july15/

The Banknifty view is in the above link below the Nifty view.

 

 

Observations in Today’s/ Previous sessions :

(based on Fut prices)

#) The BNF was an inside day which auctioned in the range of yesterday and created a Gaussian Profile
#) vwap was at 18539 with volumes of 25.2 L (Less than the previous session)
#) The profile of today held the lows near 18430 again whose importance was mentioned yesterday
#) Buying tail seen at 18415 is now covered ( short term negative) 
#) Value areas are at 18595-18550-18515 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/

 

Hypothesis :

( Based on Futures)

K.R.A is 18404 ( K.R.A= key reference area)

 

Hypo1) If BNF auctions below 18404  then it should attempt to move to 18306 and 18235. Sl for this view is 18525

Hypo 2) If BNF auctions above  18652 then it can move to 18726 and 18795. Sl for this view is 18545.