NF opened with a gap up of 91 points trapping all the laggard shorts of previous close who were forced to exit which was then followed by some initiative buying as it confirmed an Open Drive and a move away from the 4-day balance it had formed with the help of an A period buying tail from 17539 to 17475 and an extension handle at 17562 in the IB itself where it made a high of 17595.
The auction then left another extension handle at 17595 and tagged the series RO (Roll Over) point of 17635 while making new highs of 17649 in the E TPO before it gave a small pull back to 17607 in the G as the demand came back here triggering a fresh RE to the upside from the I to the L periods enabling NF to complete the 2 IB target of 17715 while making a high of 17725 and saw some big profit booking causing the second pull back for the day as it dropped down to 17660 into the close with the dPOC also shifting to 17666 leaving a Trend Day Up after more than 5 months as the last one was seen on 30th Sep 2022.
Click here to view the latest profile in NF on Vtrender Charts
- The NF Open was an Open Drive – Up (OD)
- The Day Type was a Trend Day – Up (TD)
- Largest volume was traded at 17666 F
- Vwap of the session was at 17625 with volumes of 110.2 L and range of 250 points as it made a High-Low of 17725-17475
- The settlement day Roll Over point (Mar 2023) is 17635
- The VWAP & POC of Feb 2023 Series is 17717 & 17839 respectively.
- The VWAP & POC of Jan 2023 Series is 17923 & 18132 respectively.
- The VWAP & POC of Dec 2022 Series is 18337 & 18584 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 17594-17666-17725
(** indicates series POC)
Business Areas for 06th Mar 2023:
Up
17706 – Selling tail (03 Mar)
17742 – VWAP from 22 Feb
17784 – Weekly VWAP
17817 – Selling Tail (22 Feb)
17851 – IB singles mid (22 Feb)
17910 – Weekly DD zone
Down
17666 – dPOC from 03 Mar
17625 – VWAP from 03 Mar
17594 – Extension Handle (03 Mar)
17562 – IB ext handle (03 Mar)
17507 – IB singles mid (03 Mar)
17448 – Weekly POC
(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: 41423 [ 41560/ 40755 ]
BNF not only rejected the spike close from previous session but even negated the extension handle of 40757 confirming a Drive Up as it got above PDH in the first 15 minutes itself finally tagging the 21st feb VPOC of 40975 after which it made a high of 41186 in the IB leaving an A period buying tail from 40998 to 40755.
The auction continued this imbalance with 2 big REs in the C & D periods where it negated the 20th Feb extension handle of 41354 and went up further to tag the February POC of 41462 while making a high of 41485 in the F TPO from where it gave a small retracement back to 41342 leaving a PBL in the G.
The upmove then resumed as BNF made fresh REs in the I, J & K periods as it made a look up above previous week’s high of 41540 but saw profit booking coming in resulting in a small responsive selling tail from 41560 to 41522 and a probe down to 41400 into the close as even the dPOC shifted higher to 41419 completing the Trend Up profile which was the first one after 26th Dec 2022.
Click here to view the latest profile in BNF on Vtrender Charts- The BNF Open was an Open Drive – Up (OD)
- The Day Type was a Trend Day – Up (TD)
- Largest volume was traded at 41419 F
- Vwap of the session was at 41257 with volumes of 45.5 L and range of 805 points as it made a High-Low of 41560-40755
- The settlement day Roll Over point (Mar 2023) is 40365
- The VWAP & POC of Feb 2023 Series is 40880 & 41462 respectively.
- The VWAP & POC of Jan 2023 Series is 41965 & 42320 respectively.
- The VWAP & POC of Dec 2022 Series is 43030 & 43128 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 41184-41419-41560
Business Areas for 06th Mar 2023:
Up
41490 – Closing HVN (03 Mar)
41608 – Monthly 2 IB target
41742 – HVN from 17 Feb
41853 – Weekly VPOC
41951 – Tail from 16 Feb
42050 – VPOC from 16 Feb
Down
41419 – dPOC from 03 Mar
41257 – VWAP from 03 Mar
41161 – Mid-profile singles
40997 – Buying Tail (03 Mar)
40876 – IB singles mid (03 Mar)
40795 – Monthly IBH
(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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