We had an open drive today and a move into a previous balance which ensured that value was again created higher today.That is now 4 successive values higher.
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
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| Background / Previous Auctions :
Weekly levels : We have done a review on weekly charts at : http://vtrender.com/nifty-bn-weekly-view-spot-for-22-26-june15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) NF profile was a trend day which finished at the highs and an open which was above spike highs. #) vwap of the day was at 8320 with volume of 140.3 L (More than the Previous session) #) Profile of today shows longs building up near 8258 levels #) Anomalies at 8336 and 8298/ 8286 in the profile of today.
#) Value areas are at 8368-8350-8306 – 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 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 8370 ( K.R.A= key reference area)
Hypo 1) If NF auctions above 8370 it can move to 8396 and 8439 . Sl for this view is 8339.
Hypo 2) If NF auctions below 8313 then it can move to 8270 . Sl for this view 8351.
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BankNifty June F :
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| 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-22-26-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 was an open drive which trended higher into the close #) vwap was at 18255 with volumes of 41.1 L (More than the previous session) #) Profile shows an auction above the spike of Friday #) Anomalies at 18275 and at 18195 in the profile of today #) Value areas are at 18384-18340-18188 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/
————————————————————————————————————— #) Selling tail on 02/06 from 18774 #) 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 18400 ( K.R.A= key reference area)
Hypo1 ) If BNF auctions above 18400 then it should attempt to move to 18502 and 18666 Sl for this view is 18320
Hypo 2 ) If BNF auctions below 18180 then it can drop to 18023 . Sl for this view is 18265. |