Nifty Feb F: 17547 [ 17784 / 17500 ]
NF opened below previous day’s spike close confirming that the poor trade facilitation was due to lack of demand for which the PLR (Path of Least Resistance) of the auction had now turned to the downside as it left an initiative selling tail in the IB (Initial Balance) from 17737 to 17784. NF then made the typical C side extension to 17690 and got back to the day’s VWAP leaving the first PBH of the day at 17728 after which it made a hat-trick of REs lower from the E TPO onwards to hit a low of 17634 which led to the second PBH of the day in the H period at 17704.
This second rejection from day’s VWAP meant that the sellers were still in complete control and the auction formed an extension handle at 17580 spiking lower into the close from 17555 to 17500 which will be the zone to watch for the next open with Value for the day being mostly lower.
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 (with a Spike close)
- Largest volume was traded at 17617 F
- Vwap of the session was at 17651 with volumes of 107.8 L and range of 284 points as it made a High-Low of 17784-17500
- The settlement day Roll Over point (February 2022) is 17165
- The VWAP & POC of Jan 2022 Series is 17669 & 17703 respectively.
- The VWAP & POC of Dec 2021 Series is 17169 & 17240 respectively.
- The VWAP & POC of Nov 2021 Series is 17635 & 17961 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 17580-17617-17727
HVN – 17347**
(** indicates series POC)
Business Areas for 04th Feb 2022:
Up
17555 – Spike High (03rd Feb)
17617 – dPOC from 03rd Feb
17651 – VWAP from 03rd Feb
17704 – PBH from 03rd Feb
17766 – Mid-point of selling tail
17820 – LVN from 20th Jan
Down
17519 – VWAP from 01st Feb
17455 – LVN from 02nd Feb
17424 – Weekly IBH
17372 – VAH of previous week
17312 – VAL from 31st Jan
17256 – Buying Singles (01st Feb)
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Feb F: 39067 [ 39540 / 38920 ]
BNF made a look up above PDH as it hit 39511 but could not sustain and got back into previous day’s range & value triggering the 80% Rule which resulted in the negation of the extension handle of 39375 & a probe down to yVWAP of 39237 in the G period which saw some demand coming back. The auction then made a definite move back above the day’s VWAP for the first time in the day & negated the morning selling tail as it made a RE to the upside in the H period but was swiftly rejected back from 39540 indicating that the supply was overcoming the demand.
This led to the confirmation of a FA at top as BNF not only made fresh REs to the downside into the close but also left an extension handle at 39211 to leave a Neutral Extreme (NeuX) Down Day with completely inside Value. The NeuX zone of 38920 to 39151 will be the opening refence for the next session.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Auction (OA)
- The Day type was a Neutral Extreme Day – Down (NeuX)
- Largest volume was traded at 39304 F
- Vwap of the session was at 39286 with volumes of 39 L and range of 620 points as it made a High-Low of 39540-38920
- BNF confirmed a FA at 39540 on 03/02 and the 1 ATR objective comes to38803.
- BNF confirmed a FA at 38915 on 01/02 and tagged the 1 ATR objective of 38230 on the same day. This FA got re-visited on 02/02 and closed above it so can expect the 1 ATR target of 39600 on the upside in the coming session.
- BNF confirmed a multi-day FA at 37767 on 01/02 and tagged the 1 ATR objective of 38442 on the same day and went on to tag the 2 ATR target of 39126 on 02/02.
- The settlement day Roll Over point (February 2022) is 38240
- The VWAP & POC of Jan 2022 Series is 37772 & 38232 respectively.
- The VWAP & POC of Dec 2021 Series is 36082 & 35100 respectively.
- The VWAP & POC of Nov 2021 Series is 38047 & 39404 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 39234-39304-39460
HVN – 39270**
(** indicates series POC)
Business Areas for 04th Feb 2022:
Up
39151 – NeuX zone high
39286 – NeuX VWAP (03rd Feb)
39410 – SOC from 03rd Feb
39540 – FA from 03rd Feb
39753 – PWR target of BNF
39913 – Weekly 4 IB target
Down
38920 – NeuX zone low
38803 – 1 ATR from 39540
38636 – dPOC from 01st Feb
38520 – VWAP from 01st Feb
38364 – 3-day composite VAH
38148 – 3-day composite POC
(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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