Nifty Aug F: 17387 [ 17505 / 17178 ]
NF gave a rare follow up to a NeuX (Neutral Extreme) profile with a higher open but settled down into an OAOR (Open Auction Out of Range) as it formed a very narrow 64 point range IB (Initial Balance) after making new highs for the series at 17505.
The lack of fresh demand then led to a typical C side extension lower to 17427 as it held above PDH (Previous Day High) giving the bounce back to the day’s VWAP but got rejected there giving the sellers more confidence to strike in full force which they did in style first by leaving couple of extension handles at 17427 & 17415 in the D & E periods which triggered the 80% Rule in the 3-day composite as the auction made a low of 17245 & continued this imbalance in the F TPO also where it negated Monday’s buying tail of 17248 to 17192 while making a low of 17178 holding just above last Friday’s closing extension handle of 17173 which saw demand coming back & leaving a long responsive buying tail at lows till 17245.
NF then made the reverse 80% Rule with a slow probe higher turning into a balance before getting into the mid-profile singles zone of 17369 to 17415 in the L period leaving a huge 327 point range Outside Bar & a Double Distrubution Trend Day Down with a close in balance.
The attempt to move away from the 3-day composite to the upside failed which has now given a 4-day balance with Value at 17258-17322-17374 with the VWAP at 17332 and the MarketProfile chart of the same can be seen here.
Click here to view the latest profile in NF on MPLite
- The NF Open was an Open Auction Out of Range (OAOR)
- The Day type was a Double Distribution Trend Day – Down (DD)
- Largest volume was traded at 17376 F
- Vwap of the session was at 17348 with volumes of 151.5 L and range of 327 points as it made a High-Low of 17505-17178
- NF confirmed a FA at 17055 on 29/07 and tagged the 2 ATR objective of 17364 on the 01/08. This FA is currently on ‘T+5’ Days.
- The settlement day Roll Over point (Aug 2022) is 16963
- The VWAP & POC of Jul 2022 Series is 16556 & 15976 respectively.
- The VWAP & POC of Jun 2022 Series is 15895 & 15793 respectively.
- The VWAP & POC of May 2022 Series is 16270 & 16340 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 17252-17376-17413
HVNs – 16531 / 16572 / 17128 / 17320**
(** indicates series POC)
Business Areas for 05th Aug 2022:
Up
17427 – Extension Handle (04th Aug)
17472 – HVN from 04th Aug
17522 – VPOC from 13th Apr
17568 – Prev week range obj
17609 – PBH from 13th Apr
17640 – Weekly ATR objective
Down
17376 – dPOC from 04th Aug
17320 – Weekly POC
17267 – PBL from 04th Aug
17211 – Mid-point of buying tail
17173 – NeuX zone low (29th Jul)
17137 – VPOC from 29th Jul
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Aug F: 37771 [ 38270 / 37288 ]
BNF made a higher open and hit new marginal new highs for this series at 38270 in the opening minutes and formed a very narrow IB range of just 186 points indicating poor trade facilitation or lack of fresh demand and this led to not one but 3 extension handles to the downside at 38084 / 37985 & 37920 as sellers took complete control and made a trending move down of 982 points till the F period swiping through the lower lows of last 3 days & almost tagging this week’s IBL of 37282 while making a low of 37288.
However, demand came back in this small responsive buying tail from 29th Jul as the auction scaled back quickly above previous week’s VAH of 37441 & the RO (Roll Over) point of 37434 leaving a new & long responsive tail from 37288 to 37447 after which BNF settled down to form a balance in the E period range for the rest of the day leaving a PBL (Pull Back Low) at 37522 & building volumes at 37725 and even made an attempt to check the first of the extension handles of 37900 but could only manage to tag 37851 before closing the day at 37771 leaving a Double Distribution Trend Day Down.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was an Open Auction Out of Range (OAOR)
- The Day type was a Double Distribution Trend Day – Down (DD)
- Largest volume was traded at 37725 F
- Vwap of the session was at 37757 with volumes of 54.6 L and range of 982 points as it made a High-Low of 38270-37288
- The settlement day Roll Over point (Aug 2022) is 37434
- The VWAP & POC of Jul 2022 Series is 35427 & 35099 respectively.
- The VWAP & POC of Jun 2022 Series is 33969 & 33498 respectively.
- The VWAP & POC of May 2022 Series is 34570 & 34477 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 37470-37725-37866
HVNs – 36325 / 37576 / 37912**
(** indicates series POC)
Business Areas for 05th Aug 2022:
Up
37851 – Closing PBH (04th Aug)
37985 – Extension Handle (04th Aug)
38084 – Extension Handle (04th Aug)
38215 – Selling Singles (04th Aug)
38425 – VPOC from 05th Apr
38547 – LVN from 05th Apr
Down
37725 – dPOC from 04th Aug
37576 – Weekly VAL
37447 – Buying singles (04th Aug)
37282 – Monthly IBL
37185 – Buying Singles
37028 – Daily Extension Handle
(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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