The market gapped up today, and by the close the OAOR was a neutral center and a balance. EOD data did not show new longs created and the move was up on short covering. From the Profile we should be getting a trend day again tomorrow .
Nifty Sept F :
Background / Previous Auctions :
Weekly levels : We have done a review on weekly charts at : http://vtrender.com/nifty-bn-weekly-view-spot-for-07-sept-11-sept15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) The NF was a neutral center with a close near vwap and in day balance
#) vwap of the day was at 7826 again with volume of 171.3 L in a trade which worked a 7865-7783 range of 82 points
#) Day POC was also at 7826 levels and at vwap.
#) auction of yesterday had anomalies at 7695 and 7656 and 7623 which again confirms the message from the orderflow of poor structure in the rise up.
#) The OrderFlow shows sellers above 7665 stepping in to sell at the higher prices yesterday as also today near 7860.
#) FA point of 7961 on 01/09 is the short term Bias point for the auctions
#) Gap between profiles is 7944- 7961.
#) Maintain – //Larger Auction shows 7643 (broken but weekly leans on 7520 F) as weekly support and we believe dips to this point will be used to build positions for 7950 again. SL for this view to play out is 7510 during the week.//
#) Value areas are at 7830-7824-7800– 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 Sept F)
K.R.A is 7788 ( K.R.A= key reference area)
Hypo 1) If NF auctions above 7842 then it could move to 7871 and 7920. Sl for this view 7712
Hypo 2) If NF auctions below 7788 it could move to 7758 and 7727 . Sl for this view is 7818
BankNifty Sept 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-31aug-04-sept15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) The BNF profile was also a balanced profile with close near day center
#) vwap was at 16645 with volumes of 47.9 L in a trade which worked a 16788-16475 range of 313 points.
#) day POC was at 16680 today just above vwap
#)OrderFlow shows selling at 16770 levels but responsive buying from the gap fill zone
#) Gap between profiles is 17025- 17090.
#) Value areas are at 16720-16656-16575 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/
Hypothesis :
( Based on Sept Futures)
K.R.A is 16500 ( K.R.A= key reference area)
Hypo 1) If BNF auctions above 16710 then it could move to 16817 and 17000 .Sl for this view is 16610
Hypo 2) If BNF auctions below 16500 then it could attempt to move to 16392 and 16262 . Sl for this view is 16615
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.