Nifty Aug F: 16146 [ 16162 / 15912 ]
NF opened above previous week’s high of 15920 and took support just above the yPOC of 15910 indicating that the PLR (Path of Least Resistance) was to the upside and gave further confirmation of the same with a small buying tail in the IB (Initial Balance) from 15945 to 15912 as it went on to tag the VPOC of 15974 from 16th Jul while making a high of 15990. The auction then took a small breather abosorbing the supply at the bracket top as it coiled in the C & D periods making similar highs of 15991 after which it made its intention clear with an extension handle at 15991 in the ‘E’ period and a second one at 16018 in the ‘G’ period which led to a new ATH of 16058 in the ‘J’ period as the dPOC also shifted higher to 16048 mostly due to profit booking resulting in a small PBL (Pull Back Low) at 16031. NF then made the typical late afternoon move of a Trend Day with yet another extension handle at 16058 as fresh buying emerged taking out all the late shorts which were coming in at these new highs and completed the 3 IB objective of 16144 for the day and went on to close at new highs of 16162 with even the dPOC now shifting to the top. The market has finally moved away from the 2-month balance it was forming with an initiative of 250 points and it remains to be seen how much more this imbalance could extend to with 16215 being the weekly ATR reference on the upside for the next few sessions. On the downside, the immediate singles of 16105 to 16058 would be the first zone of support below which today’s VWAP of 16038 will be the important reference for this series.
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 Trend Day – Up (TD)
- Largest volume was traded at 16156 F
- Vwap of the session was at 16038 with volumes of 87.9 L and range of 250 points as it made a High-Low of 16162-15912
- The settlement day Roll Over point (August) is 15805
- The VWAP & POC of Jul Series is 15778 & 15820 respectively.
- The VWAP & POC of Jun Series is 15721 & 15721 respectively.
- The VWAP & POC of May Series is 14945 & 15094 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 15988-16156-16163
Business Areas for 04th Aug:
Up
16156 – POC from 3rd Aug
16215 – Weekly 1 ATR objective
16240 – First objective of bracket BO
Down
16105 – Buying singles from 3rd Aug
16058 – Extension Handle from 3rd Aug
15991 – Primary Extension Handle from 3rd Aug
(The are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Aug F: 35297 [ 35347 / 34782
BNF made a sedate OAIR start in previous Value and not only formed yet another narrow range IB (Initial Balance) of just 156 points but remained in the same till the ‘F’ period forming a HVN at 34921 after which it gave the first extension handle of the day at 34955 in the ‘G’ period starting an imbalance to the upside as it almost completed the 2 IB objective of 35094 and stalled near it forming an inside bar in the ‘J’ period. The auction then resumed the upmove by leaving the second extension handle of the day at 35090 in the ‘K’ period where it went on to tag the 3 IB target of 35250 and also the FA of 35296 from 27th Jul while tagging 35321 and extended this move with new highs of 35347 in the ‘L’ period which attracted big profit booking as the dPOC for the day shifted higher to 35288 with even the close being right there. The day’s profile was a Triple Distribution Trend Day Up with a small zone of 34982 to 34955 seperating the first & second distributions but the immediate reference for the next session would be the long singles from 35244 to 35090 in the upper part. On the upside, staying above 35288 would mean a move towards the VPOCs of 35422 & 35992 is on for the coming sessions.
Click here to view the latest profile in BNF on MPLite
- The NF Open was a Open Auction In Range (OAIR)
- The Day type was a Triple Distribution Trend Day – Up (TTD)
- Largest volume was traded at 35288 F
- Vwap of the session was at 35061 with volumes of 33.5 L and range of 565 points as it made a High-Low of 35347-34782
- BNF confirmed a FA at 35296 on 27/07 and tagged the 2 ATR target of 34384 on 28/07. This FA got tagged on 03/08 which was the ‘T+5’ Day and is no longer a valid reference.
- The settlement day Roll Over point (August) is 34860
- The VWAP & POC of Jul Series is 35105 & 34804 respectively.
- The VWAP & POC of Jun Series is 35012 & 35070 respectively.
- The VWAP & POC of May Series is 33568 & 34828 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 34921-35288-35347
Business Areas for 04th Aug:
Up
35422 – VPOC from 19th Jul
35596 – Selling singles from 19th Jul
35992 – VPOC from 16th Jul
Down
35244 – Buying singles from 3rd Aug
35090 – Extension Handle from 03rd Aug
34795 – Buying tail from 03rd Aug
(The 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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