Levels and Plan for 18th Aug

The weakness evident in the OrderFlow of Friday’s trend day played out in the first 10 minutes of the day session which contained the range of the entire day. At the close, both NF and BNF got classified as Normal days.

 

Nifty Aug F :

 

Nf_Compo1

 

 

Background / Previous Auctions :

Weekly levels : We have done a review on weekly charts at : http://vtrender.com/nifty-bn-weekly-view-spot-for-17-aug-21-aug15/

 

Observations in Today’s/ Previous sessions :

(based on Fut prices)

#) The NF profile showed weakness at the open but strong responsive buying at the lows
#)  vwap of the day was at 8483  with volume of 112.6 L ina  trade which worked a 8540-8411 range
#) The Profile closed near day vwap and POC today

#) OrderFlow shows buyers at the lows near 8440 levels but the seller from 8540 may not yet be fully neutralised.

#) Larger Auction is showing big buying support at lows but needs more buying strength above 8550 levels to progress higher

#) Value areas are at 8496-8452-8446– 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 Aug F)

K.R.A is 8441 ( K.R.A= key reference area)

Hypo 1) If NF auctions above  8533  then it could move to 8573   . Sl for this view 8488.

Hypo 2) If NF auctions below 8441 it could move to 8396 and 8357. Sl for this view is 8497.

 

BankNifty Aug F :

 

 Bnf_Compo

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-17-aug-21-aug15/

Observations in Today’s/ Previous sessions :

(based on Fut prices)

#) The BNF profile again saw buyers from 18650 levels
#) vwap was at 18809  with volumes of 21.7 L in trade which worked a 18939-18611 range

#) The auction is back in the multi day balance area of the week prior.

#) OrderFlow shows minor selling near 18930 levels
#) Value areas are at 18900-18860-18780 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/

 

Hypothesis :

( Based on Aug Futures)

K.R.A is 18640 ( K.R.A= key reference area)

Hypo 1) If BNF auctions above  18940 then it could move to 19048. Sl for this view is 18840

Hypo 2) If BNF auctions below 18710 then it could attempt to move to 18640 and 18600   . Sl for this view is 18815