The expected trend day we have been tracking since Thursday’s posts, came about as thursday buyers defending 8330 rigorously triumphed over sellers from 8394- 8399 in a double distribution trend day which came about through a news based move from Greece. The index was 134 points higher by close.
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 a double distribution trend day with close at highs.
#) vwap of the day was at 8423 with volume of 131.1 L (More than the Previous session)
#) The Day type was a trend day with 8452 and 8404 separating the two distributions.
#) we see 8455 -8435 F as the first line of support for this new auction.
#) Value areas are at 8490-8484-8414 – 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 8434 ( K.R.A= key reference area)
Hypo 1) If NF auctions above 8495 then it can move to 8526 and 8572. . Sl for this view 8452.
Hypo 2) If NF auctions below 8434 it can move to 8394 and 8330. Sl for this view is 8475
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 was a double distribution trend day .
#) vwap was at 18844 with volumes of 32.5 L (More than the previous session)
#) Day shows a Failed Auction at 18581 at the lows of Friday.
#) Value areas are at 19005-18970-18780 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 19020 then it can move to 19080 and 19190. Sl for this view is 18940.
Hypo 2) If BNF auctions below 18860 then it should attempt to move to 18825 and 18760. Sl for this view is 18975