Nifty May F: 17084 [ 17118 / 16925 ]
NF continued previous session’s Neutral Extreme imbalance with a big gap down of 210 points but made an OL (Open=Low) start at 16925 holding just above the weekly FA of 16912 as not only the shorts booked out but saw some initiative buying coming in which was seen in the buying tail it left in the Initial Balance (IB) where it made a high of 17028.
The auction then made few attempts to extend the range to the upside but could only manage marginal highs of 17043 & 17058 signalling that the supply was also coming back in this zone leading to a nice balance being formed along with a ‘p’ shape profile for the day before a late short covering caused a spike higher into the close to 17118 as NF stalled just below the yPOC of 17120.
Value for the day was completely lower with a prominent POC at 16995 which will be the important reference below the spike zone of 17058 to 17118 as Spike Rules will be in play for the next open.
Click here to view the latest profile in NF on MPLite
- The NF Open was a Open Auction Out of Range (OAOR)
- The Day type was a Normal Variation Day – Up (‘p’ shape profile with a spike close)
- Largest volume was traded at 16995 F
- Vwap of the session was at 17015 with volumes of 100.1 L and range of 193 points as it made a High-Low of 17118-16925
- The settlement day Roll Over point (May 2022) is 17265
- The VWAP & POC of Apr 2022 Series is 17430 & 17145 respectively.
- The VWAP & POC of Mar 2022 Series is 16753 & 17255 respectively.
- The VWAP & POC of Feb 2022 Series is 17183 & 17409 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 16965-16995-17044
HVNs – 16997 / 17120
(** indicates series POC)
Business Areas for 04th May 2022:
Up
17090 – Selling singles (02nd May)
17137 – Mid-profile singles (29th Apr)
17206 – NeuX Extension Handle
17270 – NeuX VWAP from 29th Apr
17354 – HVN & SOC (29th Apr)
17413 – VPOC from 21st Apr
Down
17058 – Spike Low (02nd May)
16995 – dPOC from 02nd May
16943 – Singles mid-point
16893 – 1 ATR from 17094
16826 – VWAP from 15th Mar
16753 – Mar 2022 series VWAP
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty May F: 36208 [ 36279 / 35629 ]
BNF also gave a big follow up to the NeuX profile of last Friday as it opened with a huge 515 point gap down right in the previous week’s buying tail and similar to NF made an OL (Open=Low) start at 35629 after which it immediately got back above the Gap Mid-point of 35887 and left an initiative buying tail in the IB negating any bearishness.
The auction then remained in a narrow range og 36100 & 35887 for most part of the day forming a ‘p’ shape profile & a prominent POC at 35953 before giving a move away from here late in the day with a spike higher from 36120 to 36279 as it tested the 29th Apr NeuX extension handle of 36260 but found supply coming back here.
Value for the day was completely lower but Spike Rules will be in play so the zone of 36120 to 36279 would be the opening reference for the next session.
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 Normal Day (‘p’ shape profile with a spike close)
- Largest volume was traded at 35953 F
- Vwap of the session was at 36025 with volumes of 37.7 L and range of 651 points as it made a High-Low of 36279-35629
- BNF confirmed a FA at 35995 on 28/04 and tagged the 1 ATR objective of 36597 on 29/04. This FA got re-visited on 02/05 and is no longer a valid reference.
- The settlement day Roll Over point (May 2022) is 36515
- The VWAP & POC of Apr 2022 Series is 37090 & 36386 respectively.
- The VWAP & POC of Mar 2022 Series is 34992 & 35648 respectively.
- The VWAP & POC of Feb 2022 Series is 37712 & 37712 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 35902-35953-36094
HVNs – 35923 / 36120
(** indicates series POC)
Business Areas for 04th May 2022:
Up
36260 – NeuX Extension Handle
36464 – NeuX VWAP from 29th Apr
36602 – SOC from 29th Apr
36740 – Selling singles (29th Apr)
36924 – Mid profile singles
37090 – Apr 2022 Series VWAP
Down
36120 – Spike Low (02nd May)
35953 – dPOC from 02nd May
35743 – Mid-point of buying tail
35629 – Weekly IBL
35505 – Daily Swing Low (25th Apr)
35393 – 1 ATR from 35995
(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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