Nifty Sep F: 17097 [ 17229 / 17083 ]
NF continued previous day’s late imbalance as it opened above the spike zone high 17144 and probed higher till the ‘B’ period where it hit 17229 but left a small selling tail in the IB (Initial Balance) which indicated longs booking out. More confirmation of this came in the ‘C’ period as the auction broke below VWAP and even went on to make a RE (Range Extension) lower in the ‘D’ period as it triggered a probe back into the spike zone of 17144 to 17090 promptly completing the same in the ‘G’ period where it made a low of 17087. The spike low holding then gave a retracement to the day’s VWAP in the ‘H’ period but NF could not get above it and left a PBH (Pull Back High) at 17158 which meant that fresh demand was missing and this led to another probe lower into the close resulting in marginal new lows for the day at 17083 as the auction left a ‘b’ shape long liquidation profile for the day with almost overlapping POC at 17117 which will be the immediate reference on the upside for the coming session. Staying below 17117, the auction could test the 31st Aug extension handle of 17069 & VWAP of 17033 to continue the search for new buyers.
Click here to view the latest profile in NF on MPLite
- The NF Open was a Open Auction Out of Range (OAOR)
- The Day type was a Normal Variation Day – Down (NV)
- Largest volume was traded at 17117 F
- Vwap of the session was at 17143 with volumes of 70.1 L and range of 146 points as it made a High-Low of 17229-17083
- The settlement day Roll Over point (September) is 16642
- The VWAP & POC of Aug Series is 16455 & 16255 respectively.
- The VWAP & POC of Jul Series is 15778 & 15820 respectively.
- The VWAP & POC of Jun Series is 15721 & 15721 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 17107-17117-17185
Business Areas for 02nd Sep:
Up
17117 – dPOC from 01st Sep
17158 – PBH (Pull Back High) from 01st Sep
17208 – Selling Singles from 01st Sep
Down
17069 – Extension Handle from 31st Aug
17033 – VWAP from 31st Aug
16996 – PBL (Pull Back Low) from 31st Aug
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Sep F: 36699 [ 37085 / 36558 ]
BNF opened above the PBH (Pull Back High) of 36550 and gave a good 500 point move on the upside in the IB (Initial Balance) as it made a high of 37085 completing the weekly ATR target of 37033 as it left a small tail at top in the ‘B’ period. The large IB range of 527 points and the break of day’s VWAP in the C period indicated that the upside move was mostly done for the day as BNF made an OTF (One Time Frame) probe lower till the ‘G’ period where took support at PDH of 36690 while making a low of 36675 and made a retracement back to the day’s VWAP but could not get above it leaving not one but 2 similar PBHs at 36928 & 36935 in the ‘H’ & ‘J’ periods respectively and this triggered a fresh probe lower into the close as the auction went on to get back into previous day’s range making a low of 36652 leaving a 3-1-3 profile & a Normal Day. Value was completely higher but acceptance below 36652 could trigger the 80% Rule in the balanced profile of 31st Aug in the coming session whereas on the upside, today’s POC of 36744 would be the immediate level to watch along with the PBH of 36935.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Test Drive – Up which failed (OTD)
- The Day type was a Normal Day (3-1-3 profile)
- Largest volume was traded at 36744 F
- Vwap of the session was at 36833 with volumes of 41.4 L and range of 527 points as it made a High-Low of 37085-36558
- The settlement day Roll Over point (September) is 35699
- The VWAP & POC of Aug Series is 35715 & 35616 respectively.
- The VWAP & POC of Jul Series is 35105 & 34804 respectively.
- The VWAP & POC of Jun Series is 35012 & 35070 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 36663-36744-36926
Business Areas for 02nd Sep:
Up
36744 – dPOC from 01st Sep
36935 – PBH (Pull Back High) from 01st Sep
37045 – Selling Singles from 01st Sep
Down
36652 – Buying singles from 01st Sep
36514 – VPOC from 31st Aug
36355 – IBL (Initial Balance Low) from 31st Aug
(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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