The NF profile of Friday was 2-time frame neutral center with an FA at 8248 and buyers returning near thursday POC to take the index back to the Open Price by close
Nifty Oct F:
Background / Previous Auctions :
Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-12-oct-16-oct15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The NF profile was neutral center.
#) vwap of the day was at 8205 with volume of 127.5 L in a trade which worked an 8248-8152 range of 97 points
#) Day POC was at 8230 levels
#) we see an FA at 8248 levels.
#) Larger structure beyond the daily is now into Step 2 of the process.
#) The OrderFlow of today shows sellers near 8235- 8248 but buyers were back at thursday POC
#) Last week’s auction hit the weekly objectives but the coming week is expected to be rangebound and volatile.
#) Value areas are at 8236-8230-8190– 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 Oct F)
K.R.A is 8130 ( K.R.A= key reference area)
Hypo1 ) If NF auctions above 8230 it could move to 8260 and 8314. SL for this view is 8189
Hypo 2) IF NF auctions below 8159 it could move to 8130 and 8088. Sl for this view is 8205
BankNifty Oct 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-12-oct-16-oct15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The BNF profile was above the poc of thursday’s session
#) vwap was at 17680 with volumes of 37.2 L in a trade which worked a 17799-17550 range of 249 points.
#) day POC was at 17740
# OrderFlow showed sellers at the higher prices today .
#) Profile is a 3-1-3 in the making with excess at both ends. Bias is neutral.
#) Value areas are at 17790-17748-17628 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/
Hypothesis :
( Based on Oct Futures)
K.R.A is 17420 ( K.R.A= key reference area)
Hypo1 ) IF BNF auctions above 17695 it could move to 17777 and 17965. Sl for this view is 17590.
Hypo 2) If BNF auctions below 17520 it could move to 17440 and 17315. SL for this view is 17620.
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.