The expected trend day we spoke of in Friday’s plan did not materialise in the day. Instead the Nifty probed early above VAH and failed and went to the other side below VAL where it failed again. Our OrderFlow showed strong hints of buying at 8330 again and the same selling seen at 8394 plus again on friday as we saw earlier during the week.
Nifty July F :
Background / Previous Auctions :
Weekly levels : We have done a review on weekly charts at : http://vtrender.com/nifty-bn-weekly-view-spot-for-13-july-17-july15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) NF Profile was again a balanced profile with a slight extension of range downwards.
#) vwap of the day was at 8358 with volume of 103.6 L (Almost same as the Previous session)
#) The Day type was a neutral day with a selling tail above 8394 seen again.
#) we wait patiently for a trend day to emerge from this background in profiles.
#) 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 8380-8374-8346 – 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 8404 ( K.R.A= key reference area)
Hypo 1) If NF auctions above 8404 then it can move to 8428 and 8453-73. . Sl for this view 8378.
Hypo 2) If NF auctions below 8322 it can move to 8293 and 8274. Sl for this view is 8355
BankNifty July 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-13-july-17-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 profile broke away from the 2 day range seen and probed for price behavior higher.
#) vwap was at 18682 with volumes of 31.2 L (More than the previous session)
#) The profile of today came back to test VAH of the previous session where it met willing buyers.
#) Day shows a Failed Auction at 18581 at the lows of Friday.
#) Value areas are at 18740-18720-18600 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/
Hypothesis :
( Based on Futures)
K.R.A is 18865 ( K.R.A= key reference area)
Hypo 1) If BNF auctions above 18870 then it can move to 18950 and 19015. Sl for this view is 18741.
Hypo 2) If BNF auctions below 18681 then it should attempt to move to 18603 and 18405. Sl for this view is 18765