Nifty Feb F: 17589 [ 17634 / 17231 ]
NF opened with another big gap of 163 points and got accepted in 24th Jan’s Selling singles as it made a high of 17595 in the IB (Initial Balance) after which it made that dreaded C side extension to 17609 and was promptly rejected back below VWAP as it almost tagged the IBL of 17451 in the E period leaving a PBL at 17458. The auction then gave a sharp bounce making a fresh RE to the upside in the F period but could only manage 17634 and this second failure to extend the range further triggered a massive liquidation move as NF not only made a RE to the downside but swiped through previous Value & Range to hit new lows for the week at 17231.
However, there was swift rejection of this fall too as the I period got back into the IB followed by a scale up above VWAP in the J TPO as NF got back to tag 17628 once again in the L period leaving a Neutral Centre Day with a close around the dPOC of 17594. Value was completely higher so the PLR (Path of Least Resistance) remains to the upside towards the daily VPOCs of 17668 & 17873 in the coming session(s).
Click here to view the latest profile in NF on MPLite
- The NF Open was a Open Auction Out of Range plus Drive Up (OAOR + D)
- The Day type was a Neutral Centre Day (NeuC)
- Largest volume was traded at 17594 F
- Vwap of the session was at 17519 with volumes of 186.5 L and range of 403 points as it made a High-Low of 17634-17231
- The settlement day Roll Over point (February 2022) is 17165
- The VWAP & POC of Jan 2022 Series is 17669 & 17703 respectively.
- The VWAP & POC of Dec 2021 Series is 17169 & 17240 respectively.
- The VWAP & POC of Nov 2021 Series is 17635 & 17961 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 17491-17594-17619
Business Areas for 02nd Feb 2022:
Up
17628 – PBH from 01st Feb
17668 – VPOC from 21st Jan
17716 – VAH from 21st Jan
17766 – FA from 21st Jan
17820 – LVN from 20th Jan
17873 – VPOC from 20th Jan
17920 – PBH from 20th Jan
Down
17594 – dPOC from 02nd Feb
17565 – HVN from 02nd Feb
17519 – VWAP from 02nd Feb
17455 – LVN from 02nd Feb
17425 – Weekly IBH
17372 – Weekly VAH
17256 – Buying singles (02nd Feb)
(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: 38622 [ 38915 / 37767 ]
BNF opened with a gap up of almost 400 points not only confirming a multi-day FA at 37767 but also completing the 1 ATR objective of 38442 and continued to probe higher in the IB negating the 28th Jan FA of 38550 & tagging the 18th Jan VPOC of 38638 along with the first SOC of 38765 while making a high of 38880.
The auction then made the dreaded C side extension to 38915 but could not take out the higher SOC of 38920 from 18th Jan which resulted in the reversal of the probe to the downside as BNF made a big RE lower in the H period confirming a fresh FA at top and a swipe through previous Value & Range stopping just above PDL of 37757. This defense of the multi-day FA signalled return of demand triggered a move back to the HVN of 38775 into the close before settling down to give a Neutral Centre Day with completely higher Value.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Auction Out of Range plus Drive Up(OAOR + D)
- The Day type was a Neutral Centre Day (NeuC)
- Largest volume was traded at 38636 F
- Vwap of the session was at 38520 with volumes of 83.5 L and range of 1148 points as it made a High-Low of 38915-37767
- BNF confirmed a FA at 38550 on 28/01 and tagged the 1 ATR objective of 37858 on the same day. The 2 ATR target comes to 37167. This FA got re-visited on 01/02 with a close above it so can expect the 1 ATR target of 39242 on the upside.
- BNF confirmed a FA at 38915 on 01/02 and tagged the 1 ATR objective of 38230 on the same day. The 2 ATR target comes to 37546.
- BNF confirmed a multi-day FA at 37767 on 01/02 and tagged the 1 ATR objective of 38442 on the same day. The 2 ATR target comes to 39126.
- The settlement day Roll Over point (February 2022) is 38240
- The VWAP & POC of Jan 2022 Series is 37772 & 38232 respectively.
- The VWAP & POC of Dec 2021 Series is 36082 & 35100 respectively.
- The VWAP & POC of Nov 2021 Series is 38047 & 39404 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 38416-38636-38880
Business Areas for 02nd Feb 2022:
Up
38750 – PBH from 01st Feb
38915 – FA from 01st Feb
39055 – Selling Singles (18th Jan)
39242 – 1 ATR from 38550
39374 – Weekly 3 IB target
39475 – 1 ATR weekly objective
39600 – 1 ATR up from 38915
39753 – PWR target of BNF
Down
38636 – dPOC from 01st Feb
38520 – VWAP from 01st Feb
38364 – 3-day composite VAH
38148 – 3-day composite POC
38070 – minor HVN (1st Feb)
37797 – 3-day composite VAH
37572 – Extension Handle (27th Jan)
37488 – 1.5 weekly IB
(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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