Nifty Jun F: 16621 [ 16645 / 16430 ]
NF opened lower but took support in the minute buying tail of yesterday as it made a low of 16430 in the A period & formed a very narrow IB range of just 94 points while making a high of 16524 after which it made a big C side extension not only taking out the extension handle of 16535 but went on to tag the yPOC of 16572.
The auction displayed swift rejection from this yPOC tag as it got back into the IB range breaking below the day’s VWAP but left a PBL at 16468 in the D period confirming that the morning buyers were defending the A period singles which triggered a trending move higher for the rest of the day as NF completed the 2 IB objective of 16618 & went on to almost tag the 31st May VPOC of 16647 with the dPOC shifting higher to 16628 into the close.
The last 4 sessions have formed a nice balance with the Composite Value at 16539-16623-16659 (Click here to view the composite chart on MPLite) and the auction has a good chance of moving away from here provided it gets initiative volumes at open in the coming session(s).
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 16628 F
- Vwap of the session was at 16544 with volumes of 121.6 L and range of 215 points as it made a High-Low of 16645-16430
- The settlement day Roll Over point (Jun 2022) is 16180
- The VWAP & POC of May 2022 Series is 16270 & 16340 respectively.
- The VWAP & POC of Apr 2022 Series is 17430 & 17145 respectively.
- The VWAP & POC of Mar 2022 Series is 16753 & 17255 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 16488-16572-16626
HVNs – 16070 / 16309 / 16572 / 16621**
(** indicates series POC)
Business Areas for 03rd Jun 2022:
Up
16623 – 4-day composite POC
16659 – 4-day composite VAH
16716 – HVN from 05th May
16763 – Mid-profile singles
16838 – NeuX VWAP (05th May)
16887 – Weekly 2 IB target
16930 – VPOC from 05th May
Down
16583 – PBL from 02nd Jun
16539 – 4-day composite VAL
16466 – Buying singles (01st Jun)
16425 – Daily Swing Low
16394 – Gap Mid-point
16340 – Selling tail (27th May)
16309 – VPOC from 27th May
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Jun F: 35698 [ 35769 / 35455 ]
BNF made an OAIR (Open Auction In Range) start and remained in a narrow range of just 315 points all day forming an inside day and along with it leaving a nice Gaussian profile on the 2-day composite with Value at 35501-35654-35708 (Click here to see the Gaussian Curve on MPLite) and looks set to give a move away from here if it can get a strong opening in coming day(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 35608 F
- Vwap of the session was at 35611 with volumes of 32.4 L and range of 315 points as it made a High-Low of 35769-35455
- BNF has confirmed a FA at 36132 on 30/05 and tagged the 1 ATR objective of 35463 on 31/05. The 2 ATR target comes to 34793.
- BNF confirmed a FA at 34483 on 26/05 and tagged the 2 ATR objective of 35823 on 30/05. This FA is currently on ‘T+6’ Days.
- The settlement day Roll Over point (Jun 2022) is 35250
- The VWAP & POC of May 2022 Series is 34570 & 34477 respectively.
- The VWAP & POC of Apr 2022 Series is 37090 & 36386 respectively.
- The VWAP & POC of Mar 2022 Series is 34992 & 35648 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 35523-35608-35689
HVNs – 34710 / 35632** / 35854
(** indicates series POC)
Business Areas for 03rd Jun 2022:
Up
35708 – 2-day composite VAH
35837 – VPOC from 31st May
35972 – 1 ATR from FA of 35321
36132 – FA from 30th May
36296 – PBH from 04th May
36386 – Selling Singles (04th May)
36567 – NeuX VWAP from 29th Apr
Down
35654 – 2-day composite POC
35501 – 2-day composite VAL
35381 – Buying singles (01st Jun)
35225 – Weekly 3 IB target
35111 – NeuX zone low (26th May)
34985 – Extension Handle (26th May)
34853 – NeuX VWAP from 26th May
(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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