The Sellers of yesterday tried their utmost to push the index below yesterday lows all morning and afternoon, but met with strong responsive buying again from the same levels who took the market back to yesterday highs at close in a neutral extreme day.
In the Paras below you will find my daily plan for the day at the bottom with weekly support and resistance levels updated on the spot . We function with a view on different timeframes and seek an edge by understanding the interplay.. Auction Market Theory tells us where to trade. The Order Flow will show us when to trade.
| Nifty June F
|
| Background / Previous Auctions :
Weekly levels :
We have done a review on weekly charts at : http://vtrender.com/nifty-bn-weekly-view-spot-for-15-19-june15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) NF profile was a neutral extreme which closed at the highs #) vwap of the day was at 7986 with volume of 112.2 L (More than the Previous session) #) Profile of today shows buying from 7966 levels. #) Anomaly at 8002 and 8014 in today’s profile
#) Value areas are at 8004-7976-7948 – 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. ———————————————————————————————————— #) Selling tail is seen from 8154 #) Selling tail on 02/06 from 8436 #) The profile of 01/06 has a small selling tail at 8484 F just near the POC of 22/05. #) New pull back high is at 8359 and resistance for coming sessions
Hypothesis :
( Based on June Futures)
K.R.A is 8065 ( K.R.A= key reference area)
Hypo 1) If NF auctions below 8065 then it can move to 8023 and 7983 . Sl for this view 8088
Hypo 2) If NF auctions above 8070 it can move to 8102 and 8142 . Sl for this view is 8036.
———————————————————————————————————————————————————-
BankNifty June 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-15-19-june15/
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 met support at 17270 and broke hgher. #) vwap was at 17379 with volumes of 29.8 L (More than the previous session) #) Buyers were seen protecting 17270 today #) Anomaly seen at 17650 . and a new anomaly today at 17495. #) Value areas are at 17470-17325-17280 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/
————————————————————————————————————— #) Selling tail on 02/06 from 18774 #) Anomalies in profile at 17991 and 18072 and 18117 and 18243 all of which need repair. #) 18380 is the pull back high of the auction and should see more sellers entering if it gets there
Hypothesis :
( Based on Futures)
K.R.A is 17500 ( K.R.A= key reference area)
Hypo1 ) If BNF auctions above 17566 then it should attempt to move to 17660 and 17740. Sl for this view is 17498.
Hypo 2 ) If BNF auctions below 17500 then it can drop to 17378 . Sl for this view is 17556.
|