Nifty Jan F: 18275 [ 18294 / 18164 ]
NF opened with a look down below previous lows of 18172 but got rejected from 18164 as it left an A period buying tail and reversed the probe to the upside till the D period where it made a high of 18275 stalling just below the yPOC of 18279.
The auction then remained in a narrow range forming a ‘p’ shape profile for most part of the day before making a swipe lower into the A period buying tail in the K TPO where it left a PBL at 18189 holding the opening TPO POC indicating buyers were back and this triggered a short covering move into the close leaving a mini-spike from 18275 to 18294 forming a Normal Variation Up Day with overlapping to lower Value and once again the spike rules will come into play at the next open.
NF is also in the process of forming a balance on the daily timeframe with the current 2-day composite Value at 18232-18276-18340 and could continue building the same in the coming session(s) before giving a move away. (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 (with a mini-Spike close)
- Largest volume was traded at 18236 F
- Vwap of the session was at 18240 with volumes of 54.8 L and range of 130 points as it made a High-Low of 18294-18164
- NF confirmed a FA at 18092 on 29/12 and tagged 1 ATR objective of 18296 on same day. The 2 ATR target comes to 18501.
- The settlement day Roll Over point (Jan 2023) is 18299
- The VWAP & POC of Dec 2022 Series is 18337 & 18584 respectively.
- The VWAP & POC of Nov 2022 Series is 18295 & 18335 respectively.
- The VWAP & POC of Oct 2022 Series is 17350 & 17260 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 18223-18236-18285
HVNs – 18181
(** indicates series POC)
Business Areas for 03rd Jan 2023:
Up
18280 – Closing HVN (02 Jan)
18321 – PBH from 30 Dec
18360 – Selling Tail
18404 – IB HVN (22 Dec)
18440 – 1 ATR from yPOC
18475 – Extension Handle (21 Dec)
Down
18275 – Spike Low (02 Jan)
18236 – dPOC from 02 Jan
18189 – Buying Tail (02 Jan)
18160 – 29 Dec SOC (Scene Of Crime)
18120 – VPOC from 29 Dec
18092 – FA from 29 Dec
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Jan F: 43394 [ 43535/ 43136 ]
BNF also opened with a probe lower but got stopped just above the 30th Dec Buying tail of 43120 as it made a low of 43136 & got back into previous Value triggering the 80% Rule in the well balanced 3-1-3 profile which it promptly completed in the A period itself and went on to form a 375 point range IB where it got into the 30th Dec Selling Tail from 43470 while making a high of 43511.
The auction then made couple of REs in the C & D TPOs but could only manage marginal new highs of 43525 & 43535 indicating supply coming back in this zone which marked the end of the upmove for the day and led to a retracement down to 43216 in the K period before giving a close around the dPOC of 43428 leaving a Normal Day & an Inside Bar giving a smoother 2-day balance & a 3-1-3 composite with Value at 43281-43380-43479 and would need initiative volumes to move away from here in the coming session(s).
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 Day (Inside Bar)
- Largest volume was traded at 43428 F
- Vwap of the session was at 43376 with volumes of 29.3 L and range of 399 points as it made a High-Low of 43535-43136
- The settlement day Roll Over point (Jan 2023) is 43420
- The VWAP & POC of Dec 2022 Series is 43030 & 43128 respectively.
- The VWAP & POC of Nov 2022 Series is 42150 & 42959 respectively.
- The VWAP & POC of Oct 2022 Series is 39750 & 38950 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 43329-43428-43497
HVNs – 43270
(** indicates series POC)
Business Areas for 03rd Jan 2023:
Up
43420 – RO (Roll Over) point
43539 – IB Singles Mid
43658 – Weekly VPOC
43739 – PBH from 21 Dec
43820 – Selling Tail (21 Dec)
43964 – Ext Handle (15 Dec)
44028 – Mid-profile tail (15 Dec)
Down
43380 – 2-day comp POC
43280 – 2-day comp VAL
43120 – Buying tail (30 Dec)
43030 – Dec 2022 VWAP
42957 – Ext Handle (29 Dec)
42853 – Weekly NeuX VWAP
42739 – HVN from 29 Dec
(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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