Nifty Feb F: 17677 [ 18064 / 17472 ]
NF opened higher & remained above the 3-day composite Value indicating that the PLR (Path of Least Resistance) was to the upside as it formed a narrow range IB (Initial Balance) stalling exactly at the 27th Jan Selling Tail from 17900 which it took out with a RE (Range Extension) in the D period to 17945 pausing right at the mid-point of those selling singles which in turn led to a quick drop below the day’s VWAP leaving a PBL (Pull Back Low) at 17827 in the E TPO.
The auction then made a typical G period move of an OAOR (Open Auction Out of Range) start making a fresh RE to the upside as it not only tagged the 24th Jan VPOC of 17997 but went on to test that day’s B period selling tail from 18059 and left similar highs of 18064 in the H TPO indicating exhaustion on the upside and this was taken advantage off by the sellers as they came back aggresively leaving couple of SOCs (Scene Of Crime) at 18008 & 17945 in the I period and managing to make new lows for the day at 17808.
The J TPO then left a selling extension handle triggering the 80% Rule in the 3-day composite value which got completed with ease in the K period where NF made a low of 17601 and continued this mayhem in the L as it made new lows for the week as well as series at 17472 tagging the 20th Oct VPOC of 17481 and saw good profit booking by the sellers which in turn trapped the laggard shorts giving a bounce higher to 17742 before closing the day at 17677 leaving an Outside Day & a Neutral Extreme Down profile.
Click here to view the latest profile in NF on MPLite
- The NF Open was an Open Auction Out of Range (OAOR)
- The Day type was a Neutral Extreme Day – Down (NeuX)
- Largest volume was traded at 17909 F
- Vwap of the session was at 17824 with volumes of 211.3 L and range of 592 points as it made a High-Low of 18064-17472
- The settlement day Roll Over point (Feb 2023) is 17985
- The VWAP & POC of Jan 2023 Series is 17923 & 18132 respectively.
- The VWAP & POC of Dec 2022 Series is 18337 & 18584 respectively.
- The VWAP & POC of Nov 2022 Series is 18295 & 18335 respectively.
You can check the monthly charts & other swing levels for Nifty & NF here & for the weekly charts & analysis, please click here.
Daily Zones:
- Value zones (volume profile) are at 17725-17909-18063
HVNs – 17688 / 17738 / 18240
(** indicates series POC)
Business Areas for 02nd Feb 2023:
Up
17688 – Closing HVN (01 Feb)
17742 – LVN from 01 Feb
17784 – Mid-profile tail (01 Feb)
17824 – NeuX VWAP
17868 – Anomaly (01 Feb)
17909 – dPOC from 01 Feb
17945 – 2nd SOC from 01 Feb
Down
17677 – Close Price (01 Feb)
17622 – LVN from 01 Feb
17576 – Previous Week Low
17522 – Monthly IBL
17472 – Previous Day Low
17440 – PBL from 20 Oct
17394 – Buying Tail (20 Oct)
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Feb F: 40727 [ 42252/ 39718 ]
BNF also opened higher but was unable to sustain above the 27th Jan A TPO reference of 41388 and probed lower but made similar lows just above PDH in the IB indicating presence of buyers as it formed a narrow range in the first hour typical of an OAOR start.
The auction then made a RE to the upside in the D period hitting new highs of 41598 but was rejected back into the IB and even broke below the day’s VWAP leaving a PBL at 41222 once again taking support at the morning lows after which the G TPO made a fresh RE higher and was followed by another one in the H as it made a high of 42252 tagging January’s monthly POC of 42230 but stopped just short of 25th Jan’s selling extension handle of 42255.
As the I period confirmed a responsive selling tail at the top, the supply got more & more aggressive triggering a massive liquidation drop down which lasted till the L TPO as BNF made new lows for the series at 39718 but saw an equally quick bounce back to 40926 into the close as it confirmed a long responsive buying tail till 40578 & a Neutral Extreme Day down which was also an Outside Bar.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was an Open Auction Out of Range (OAOR)
- The Day type was a Neutral Extreme Day – Down (NeuX)
- Largest volume was traded at 41488 F
- Vwap of the session was at 41270 with volumes of 110.1 L and range of 2533 points as it made a High-Low of 42252-39718
- The settlement day Roll Over point (Feb 2023) is 41864
- The VWAP & POC of Jan 2023 Series is 41965 & 42320 respectively.
- The VWAP & POC of Dec 2022 Series is 43030 & 43128 respectively.
- The VWAP & POC of Nov 2022 Series is 42150 & 42959 respectively.
For the Monthly charts & other swing levels for BankNifty & BNF click here & for the weekly charts & analysis, please click here.
Daily Zones:
- Value zones (volume profile) are at 40634-40941-40982
HVNs – 40618 / 40726 / 42115
(** indicates series POC)
Business Areas for 02nd Feb 2023:
Up
40766 – M TPO VWAP (01 Feb)
40926 – Mid-profile singles (01 Feb)
41151 – LVN from 01 Feb
41270 – Neux VWAP (01 Feb)
41382 – IB LVN (01 Feb)
41488 – dPOC from 01 Feb
41598 – 2nd SOC from 01 Feb
41827 – SOC from 01 Feb
Down
40722 – Closing HVN (01 Feb)
40578 – Buying tail (01 Feb)
40340 – L TPO POC (01 Feb)
40148 – Single mid-point
40014 – LVN from 30 Jan
39927 – Buying tail (30 Jan)
39718 – PDL
39592 – Extension Handle (17 Oct)
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
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