Nifty Mar F: 16613 [ 16678 / 16468 ]
NF opened with almost a 200 point gap down and continued to probe lower in the A period as it negated the 28th Feb mid-profile singles while making a low of 16550. The ‘B’ formed an inside bar yet again after which the C TPO made an attempt to get into the A period selling singles but got rejected leaving a PBH at 16636 triggering a fresh OTF (One Time Frame) move to the downside till the H TPO where the auction tested 28th Feb’s SOC (Scene Of Crime) of 16475 and made a low of 16468 and saw demand coming back to defend this level.
The K period made another attempt to break lower but could only manage 16471 clearly indicating exhausion to the downside which in turn led to a short covering move back above VWAP in the L period as NF scaled above morning PBH of 16636 and tagged 16649 moving the dPOC also higher to 16634 in the process forming an inside day & a balance filling up the low volumes zone of previous session.
Click here to view the latest profile in NF on MPLite
- The NF Open was a Open Auction In Range (OAIR)
- The Day type was a Normal Variation Day – Down (NV)
- Largest volume was traded at 16634 F
- Vwap of the session was at 16573 with volumes of 137.9 L and range of 210 points as it made a High-Low of 16678-16468
- The settlement day Roll Over point (March 2022) is 16251
- The VWAP & POC of Feb 2022 Series is 17183 & 17409 respectively.
- The VWAP & POC of Jan 2022 Series is 17669 & 17703 respectively.
- The VWAP & POC of Dec 2021 Series is 17169 & 17240 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 16530-16634-16646
HVN – 16643
(** indicates series POC)
Business Areas for 03rd Mar 2022:
Up
16634 – dPOC from 02nd Mar
16695 – Gap mid-point (02nd Mar)
16729 – Weekly VWAP
16784 – VPOC from 28th Feb
16825 – Daily Swing High (28th Feb)
16887 – Mid-point of Gap Down (24th Feb)
16927 – PBL from 22nd Feb
16979 – VPOC from 22nd Feb
Down
16611 – HVN from 02nd Mar
16566 – 2nd HVN from 02nd Mar
16524 – 3rd HVN from 02nd Mar
16471 – PBL from 02nd Mar
16420 – Buying Singles (28th Feb)
16367 – Weekly IBL
16304 – 24th Feb singles
16252 – VPOC from 24th Feb
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Mar F: 35463 [ 365655 / 34936 ]
BNF continued the downside imbalance on the higher timeframe with a big gap down open of 714 points as it remained below PDL (Previous Day Low) and continued to probe lower leaving an extension handle at 35184 in the F period and not only tagged the 24th Feb VPOC of 35087 but even completed the weekly 2 IB objective of 34966 while making a low of 34936 in the H TPO.
Having completed 2 major objectives, the auction then made a retracement getting above 35184 but stalled just below the combination of day’s VWAP & IBH at 35264 indicating that the sellers were still in control triggering another probe down but could only manage similar lows of 34952 in the K period. This inability by the sellers to make new lows led to a big short covering move in the last 30 minutes as BNF left a SOC (Scene Of Crime) at 35249 and went on to tag the PDL making marginal new highs for the day at 35655.
Value for the day was once again completely lower with HVNs at 35464 & 35112 and has left a probable multi-day FA (Failed Auction) at 35655 in case we get accepted below 35264 in the next session which would open up a fresh imbalance to the downside.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Auction Out of Range (OAOR)
- The Day type was a Neutral Day (NeuD)
- Largest volume was traded at 35334 F
- Vwap of the session was at 35297 with volumes of 60 L and range of 719 points as it made a High-Low of 35655-34936
- The settlement day Roll Over point (March 2022) is 35296
- The VWAP & POC of Feb 2022 Series is 37712 & 37712 respectively.
- The VWAP & POC of Jan 2022 Series is 37772 & 38232 respectively.
- The VWAP & POC of Dec 2021 Series is 36082 & 35100 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 35126-35334-35559
HVN – 36448
(** indicates series POC)
Business Areas for 03rd Mar 2022:
Up
35464 – HVN from 02nd Mar
35655 – Weekly IBL
35889 – SOC from 28th Feb
36035 – VWAP from 28th Feb
36191 – VPOC from 28th Feb
36330 – Selling Singles (28th Feb)
36471 – VPOC from 25th Feb
36642 – PBH from 25th Feb
Down
35334 – dPOC from 02nd Mar
35249 – SOC from 02nd Mar
35112 – HVN from 02nd Mar
34952 – PBL (Pull Back Low)
34836 – 1 ATR from 35655
34626 – 1 ATR (weekly) from 36464
34506 – Weekly 1 ATR target
34277 – Weekly 3 IB objective
(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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