Levels and Plan for 31st July

The Nifty saw a cutoff in intra day momentum at 8455 near the series vwap of July. The Buyers from 8321 spot are facing off with the sellers from earlier in the week at this vwap and the auction could be subdued for the session tomorrow which happens to be the week and month close.

 

 

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-27-july-31-july15/

The nifty view has been updated in the above post on 27/07

Observations in Today’s/ Previous sessions :

(based on Fut prices)

#) NF Profile broke off the 2 day balance but closed near day vwap
#)  vwap of the day was at 8464  with volume of  95.9 L (Less than the Previous session)
#) The NF crossed over VAH today  after 5 sessions.

#) The  failed auction at 8451 Aug F was revisited today and will now function as a support

#) Buying again was seen at 8336 , the same kind as the one we had noted back on 10/ 11 july.

#) profile looks like it will stay in the 8440- 8530 F range for next few sessions now.

#) Value areas are at 8472-8460-8448 – 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 8440 ( K.R.A= key reference area)

Hypo 1) If NF auctions above 8491  then it could move to 8515 and 8546. . Sl for this view 8442

Hypo 2) If NF auctions below 8420 it could move to 8382 and 8360. Sl for this view is 8466.

 

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-27-july-31-july15/

The Banknifty view has been updated in the above post on 27/07

Observations in Today’s/ Previous sessions :

(based on Fut prices)

#) The BNF profile broke off the inside day and created value higher today
#) vwap was at 18535 with volumes of 17.5 L  ( Less than the previous session)

#) Auction was seen in the selling prints of Monday’s tail

#) We see a failed auction at 19015 Aug F which was the support previously and now resistance. It is on day T+4

#) A buying tail visible at 18305 

#) Auction seen between 18460- 18700 for next few sessions.
#) Value areas are at 18580-18525-18505 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 18486 ( K.R.A= key reference area)

Hypo 1) If BNF auctions above  18576 then it could move to 18622 and 18691 . Sl for this view is 18481

Hypo 2) If BNF auctions below 18440 then it could attempt to move to 18380 and 18340 . Sl for this view is 18576