Levels and Plan for 26th Nov

After being pushed back into the balance zone again on Monday, the NF continued to trade the balance zone on Tuesday setting up a possibility of a trending move late in the expiry session of Thursday.Expiry week is not the correct time to talk about the bias of the market, but even then the reaction to an impulsive move such as the one we have seen in the first 3 weeks of November tells us more about the bias than the earlier impulse.

 

Nifty Nov F:

Nf_Compo1 1

 

 

 

Background / Previous Auctions :

Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-23-nov-27-nov15/

Observations in Today’s/ Previous sessions:

(based on Fut prices)

#) The NF was a Normal Variation day again and within last week’s balance zone

#) Vwap of the session was at 7849 with volumes of 127.9 L in a session which traded a range of 7875-7806 of 68 points

#) Day POC was at 7852 levels

#) Dec Futures are showing a short buildup over 7890 F currently

#) we are anticipating a test of 7785 Nov F and at 7752 F should we move below the lower edge of the balance currently at 7816

#) Conversely a trip above 7875 should bring 7935 again.

#) Value areas are at  7866-7852-7840– 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 Nov F)

K.R.A is 7918 ( K.R.A= key reference area)

 

Hypo1 ) If NF auctions above 7855 it could move to 7879 and 7918.  SL for this view is 7825

Hypo 2) IF NF auctions below 7809 it could move to 7785 and 7759. Sl for this view is 7847

BankNifty Nov 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-23-nov-27-nov15/

Observations in Today’s/ Previous sessions:

(based on Fut prices)

#) The BNF was a normal variation day again

#) Vwap was at 17046 with volumes of 25.8L in a session which traded a range of 17110-16950 of 160 points

#) day POC was at 17052 levels

#) Excess  at 17349  on charts

#) Excess at 16626 and 16760 also remains.

#) Larger structure is hinting at a neat balance between these 2 excesses.
#) Value areas are at 17088-17052-17016 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/

 

Hypothesis :

( Based on Nov Futures)

K.R.A is 17345  ( K.R.A= key reference area)

Hypo1 ) IF BNF auctions above 17074  it could move to 17125 and 17217. Sl for this view is 17000.

Hypo 2) If BNF auctions below 16967 it could move to 16911 and 16840. SL for this view is 17065.

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.