A quite OAIR turned around at 2-2.15 on the volume expansion which took the index to 8266F. Day type was a neutral extreme again and showed buying at the lows yet again.
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-19-oct-23-oct15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The NF profile was a neutral extreme with buying prints at the lows
#) vwap of the day was at 8191 with volume of 112.6 L in a trade which worked an 8266-8151 range of 116 points
#) Day POC was at 8259 levels
#) The NF visisted the FA at 8248 on day T+5 and managed to close above it.
#) The Profile finished in imbalance and the Open of Monday should hold the key for the day session.
#) The OrderFlow of today shows buyers near 8160 but there are still many trapped sellers at 8200- 8220 zone.
#) Value areas are at 8262-8259-8174– 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 8320 ( K.R.A= key reference area)
Hypo1 ) If NF auctions above 8270 it could move to 8301 and 8320 SL for this view is 8222
Hypo 2) IF NF auctions below 8222 it could move to 8185 and 8078. Sl for this view is 8258
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-19-oct-23-oct15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The BNF profile was a normal variation day which trended into the close
#) vwap was at 17750 with volumes of 35.8 L in a trade which worked a 18009-17626 range of 384 points.
#) day POC was at 17700 levels
#) Profile broke and closed above the 3-1-3 profile we have been tracking
#) Value areas are at 17796-17700-17646 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 17820 ( K.R.A= key reference area)
Hypo1 ) IF BNF auctions above 18055 it could move to 18128 and 18170. Sl for this view is 17940.
Hypo 2) If BNF auctions below 17870 it could move to 17740 and 17671. SL for this view is 17990.
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.