Nifty Jun F: 15617 [ 15632 / 15502 ]
NF opened lower and moved away from previous value with the help of an initiative selling tail in the IB (Initial Balance) where it made a low of 15516 but could not extend further even till the ‘G’ period which meant that the seller was doing a bad job inspite of the aggressive open. The auction finally managed to make a RE (Range Extension) lower at the end of the ‘H’ period and even made a lower low in the ‘I’ but could only manage a marginal new low of 15502 which was the initiative buying tail from 31st May (15511 to 15474) from where it got swiftly rejected and this led to a big short covering squeeze into the close as NF not only negated the morning tail but confirmed a FA (Failed Auction) at lows as it went on to complete the 80% Rule in previous Value to tag 15632 leaving a Neutral Extreme Day Up. The reference zone for the next open would be from 15588 to 15632.
- The NF Open was a Open Auction (OA)
- The Day type was a Neutral Extreme Day – Up (NeuX)
- Largest volume was traded at 15548 F
- Vwap of the session was at 15558 with volumes of 67.2 L and range of 130 points as it made a High-Low of 15632-15502
- NF confirmed a FA at 15502 on 02/06 and the 1 ATR target comes to 15648.
- The settlement day Roll Over point (June) is 15396
- The VWAP & POC of May Series is 14945 & 15094 respectively.
- The VWAP & POC of Apr Series is 14576 & 14375 respectively.
- The VWAP & POC of Mar Series is 14816 & 14737 respectively.
- Value zones (volume profile) are at 15509-15548-15577
HVNs – 15277 / 15458 / 15578
BankNifty Jun F: 35524 [ 35560 / 35180 ]
BNF also opened lower and even probed below the composite VAL of 35290 as it made a low of 35180 in the IB (Initial Balance) but displayed poor trade faciliation at the lows as the auction could not extend lower & remained in the narrow IB range of just 200 points for the first half of the day. The second half of the day saw a change in the auction as BNF went on to make multiple REs to the upside in the ‘I’ & ‘J’ periods as it tagged the composite POC of 35459 and left the final show for the last 45 minutes as it spiked higher into the close completing the 80% Rule in the 3-day Value. Spike rules will be in play for the next open and the reference would be from 35451 to 35560. On the larger time frame, we continue to form a balance which is now a 4-day composite with Value at 35273-35441-35544 and there is a good chance of a move away from here in the coming session(s).
- The BNF Open was a Open Auction (OAOR)
- The Day type was a Normal Variation Day – Up (NV with a spike close)
- Largest volume was traded at 35327 F
- Vwap of the session was at 35353 with volumes of 28.4 L and range of 380 points as it made a High-Low of 35560-35180
- The settlement day Roll Over point (June) is 35380
- The VWAP & POC of May Series is 33568 & 34828 respectively.
- The VWAP & POC of Apr Series is 33260 & 32490 respectively.
- The VWAP & POC of Mar Series is 34618 & 33870 respectively.
- Value zones (volume profile) are at 35219-35327-35395
HVNs – 34778 / 35441
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