Nifty Aug F: 17346 [ 17420 / 17241 ]
NF made a lower open and continued to probe on the downside in the IB as it tested yesterday’s A period singles of 17251 while making a low of 17241 in the B TPO and took support there as was seen in the tiny responsive buying tail it left till 17248 in the C side.
The auction then filled up the day’s profile forming a nice Gaussian Curve till the I period forming a Normal Day but made a pretty late RE to the upside in the J TPO and followed it up with higher highs in the K & L too as it completed the 1.5 IB objective of 17411 which was also the Weekly 3 IB target while making a high of 17420 and saw some good profit booking coming in which led to a move back to the dPOC of 17309 into the close.
Value for the day was overlapping to lower giving a nice 2-day composite at 17252-17324-17352 and a move away from this balance would be watched for in the coming session(s). Click here to view the 2-day composite on MPLite.
Click here to view the latest profile in NF on MPLite
- The NF Open was an Open Auction In Range (OAIR)
- The Day type was a Normal Variation Day – Up (NV)
- Largest volume was traded at 17309 F
- Vwap of the session was at 17324 with volumes of 116.3 L and range of 179 points as it made a High-Low of 17420-17241
- NF confirmed a FA at 17055 on 29/07 and tagged the 2 ATR objective of 17364 on the 01/08.
- The settlement day Roll Over point (Aug 2022) is 16963
- The VWAP & POC of Jul 2022 Series is 16556 & 15976 respectively.
- The VWAP & POC of Jun 2022 Series is 15895 & 15793 respectively.
- The VWAP & POC of May 2022 Series is 16270 & 16340 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 17261-17309-17350
HVNs – 16531 / 16572 / 17128 / 17320**
(** indicates series POC)
Business Areas for 03rd Aug 2022:
Up
17352 – 2-day Composite VAH
17439 – Daily Swing High (21st Apr)
17482 – Daily Ext Handle (12th Apr)
17522 – VPOC from 13th Apr
17568 – Prev week range obj
17609 – PBH from 13th Apr
Down
17324 – 2-day Composite POC
17255 – PBL from 02nd Aug
17221 – Singles Mid-point
17173 – NeuX zone low (29th Jul)
17137 – dPOC from 29th Ju
17100 – PBL from 29th Jul
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Aug F: 38024 [ 38232 / 37667 ]
BNF opened with a gap down of almost 200 points but held just above yesterday’s Extension Handle of 37726 & gave a quick bounce to test the yPOC of 37928 as it made a high of 37938 in the A period but was swiftly rejected leading to a good fall in the B TPO where the auction made new lows of 37667 holding above this week’s VWAP of 37662 indicating demand coming back.
The C & D periods then formed a balance staying in the range of B before BNF gave a big RE to the upside in the E TPO as it not only scaled above PDH but went on to tag the 1.5 IB objective of 38073 to the dot but saw the dPOC shift higher to 38058 which meant that the longs were booking out triggering a move back to the day’s VWAP in the G & H periods where it left similar lows near 37855.
This defence of VWAP meant that the buyers were coming back which caused a fresh RE in the J period which went on till the L as the auction completed the 2 IB target of 38208 while making a high of 38232 and once again saw huge profit booking along with some fresh supply which not only effecting a break below the dPOC of 38057 but also tagged the VWAP of 37956 while making a low of 37892 into the close.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was an Open Auction In Range (OAIR)
- The Day type was a Normal Variation Day – Up (NV)
- Largest volume was traded at 38057 F
- Vwap of the session was at 37956 with volumes of 41.1 L and range of 565 points as it made a High-Low of 38232-37667
- The settlement day Roll Over point (Aug 2022) is 37434
- The VWAP & POC of Jul 2022 Series is 35427 & 35099 respectively.
- The VWAP & POC of Jun 2022 Series is 33969 & 33498 respectively.
- The VWAP & POC of May 2022 Series is 34570 & 34477 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 37840-38057-38165
HVNs – 36325 / 37576 / 37912**
(** indicates series POC)
Business Areas for 03rd Aug 2022:
Up
38057 – dPOC from 02nd Aug
38169 – LVN from 02nd Aug
38318 – Weekly 2 IB
38425 – VPOC from 05th Apr
38547 – LVN from 05th Apr
38628 – HVN from 05th Apr
Down
37989 – HVN from 02nd Aug
37855 – PBL from 02nd Aug
37764 – HVN from 02nd Aug
37675 – Buying singles
37574 – Buying Singles (01st Aug)
37434 – August RO Point
(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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