Nifty Mar F: 16505 [ 16770 / 16445 ]
NF continued it’s affair with gaps as it opened higher by 128 points and went on to hit 16770 in the opening minutes stalling just below the 28th Feb VPOC of 16784 from where it made a swift rejection back into previous day’s range confirming an ORR (Open Rejection Reverse) and promptly tagged the yPOC & HVN of 16634 & 16611 respectively in the B period while making a low of 16607.
The auction then made a typical C side extension with marginal new lows of 16605 and turned into a balance staying in a narrow range till the F period but left an important PBH at 16668 in the E TPO where it made an attempt to enter the A period selling singles but was rejected indicating that the PLR (Path of Least Resistance) was to the downside. Sellers re-gained control from the G period onwards where they left an extension handle at 16605 and pushed NF lower to 16472 over the next 2 TPOs where it stopped right at yesterday’s PBL and gave a bounce to 16575 but could not take out the mid-profile singles of 16605 to 16584 triggering another leg down and new lows for the day at 16445 in the L period which was also the 2 IB objective for the day.
The auction then left a small buying tail at lows to get back into the lower balance it was forming for the day closing near the dPOC of 16525 leaving a Double Distribution Trend Day Down and on the higher timeframe has been in a bracket from 24th Feb onwards between the 2 daily VPOCs of 16252 & 16784 so needs an initiative move away from one of the above for a fresh imbalance to start.
Click here to view the latest profile in NF on MPLite
- The NF Open was a Open Rejection Reverse (Down) (ORR)
- The Day type was a Double Distribution Trend Day – Down (DD)
- Largest volume was traded at 16525 F
- Vwap of the session was at 16591 with volumes of 118.2 L and range of 325 points as it made a High-Low of 16770-16445
- 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 16445-16525-16577
HVN – 16643
(** indicates series POC)
Business Areas for 04th Mar 2022:
Up
16525 – dPOC from 03rd Mar
16591 – VWAP from 03rd Mar
16650 – HVN from 03rd Mar
16719 – Mid-point of selling tail
16784 – VPOC from 28th Feb
16825 – Daily Swing High (28th Feb)
16887 – Mid-point of Gap Down (24th Feb)
16927 – PBL from 22nd Feb
Down
16472 – Buying Singles (03rd Mar)
16420 – Buying Singles (28th Feb)
16367 – Weekly IBL
16304 – 24th Feb singles
16252 – VPOC from 24th Feb
16171 – Weekly 1.5 IB objective
16136 – Weekly ATR from 16825
16070 – 1 ATR weekly target
(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: 35041 [ 35868 / 34811 ]
BNF also opened higher by almost 300 points and continued the upside probe as it made a high of 35868 stopping just below the 28th Feb SOC of 35889 and getting swiftly rejected to the downside falling by almost 500 points in the A period & continuing this drop in the B tagging the yPOC & yVWAP of 35334 & 35297 respectively while making a low of 35261.
The auction made couple of REs (Range Extension) in the C & D periods making lower lows of 35202 & 35161 but the range contraction indicated that the downside was getting a bit streched and this led to a bounce to the day’s VWAP in the E period which saw supply coming back right at morning’s initiative selling tail resulting in a PBH (Pull Back High) at 35433.
BNF then resumed making lower lows from the F TPO onwards resulting in not just new lows for the day but also the week as it hit 34811 in the L period and saw some profit booking coming in resulting in a closing bounce back to VWAP as it hit 35282 stalling right below this series RO (Roll Over) Point of 35296 leaving a ‘b’ shape long liquidation profile with overlapping to lower Value.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Rejection Reverse – Down (ORR)
- The Day type was a Normal Variation Day – Down (NV)
- Largest volume was traded at 35101 F
- Vwap of the session was at 35230 with volumes of 55.2 L and range of 1056 points as it made a High-Low of 35868-34811
- 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 34959-35101-35385
HVN – 36449
(** indicates series POC)
Business Areas for 04th Mar 2022:
Up
35101 – dPOC from 03rd Mar
35282 – Closing PBH (03rd Mar)
35439 – Selling Singles (03rd Mar)
35653 – Mid-point of selling tail
35889 – SOC from 28th Feb
36035 – VWAP from 28th Feb
36191 – VPOC from 28th Feb
36330 – Selling Singles (28th Feb)
Down
35000 – HVN from 03rd Mar
34876 – Buying singles (03rd Mar)
34626 – 1 ATR (weekly) from 36464
34506 – Weekly 1 ATR target
34277 – Weekly 3 IB objective
34039 – 1.5 Monthly IB
33890
33750
(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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