Nifty Jan F: 18066 [ 18190 / 17964 ]/span>
NF opened higher above the yPOC of 18133 but made the first probe down as it made a low of 18092 with that FA still attracting demand which led to a bounce back higher with a move above the VWAP of 18166 but stalled right below the PBH of 18192 while making a high of 18190 in the A period after which it dropped down to 18082 in the B unable to get fresh supply below PDL.
The auction then gave a typical C side contra move as it scaled above the day’s VWAP but left a PBH at 18164 halting right at the Monthly IBL indicating that the sellers were marking their zone lower and this gave way to a strong OTF (One Time Frame) probe lower till the I TPO as NF left three extension handles at 18082 / 18066 / 18042 and completed the 2 IB objective of 17974 while making a low of 17964.
The closing hour & a half then saw a bounce back to the day’s VWAP as the auction negated 2 of the 3 extension handles & stopped right at the first one of 18082 before closing the day at 18066 leaving a Normal Variation Day down with overlapping to lower Value.
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- The NF Open was an Open Auction In Range (OAIR)
- The Day type was a Normal Variation Day – Down NV
- Largest volume was traded at 18114 F
- Vwap of the session was at 18077 with volumes of 107.6 L and range of 226 points as it made a High-Low of 18190-17964
- NF confirmed a FA at 18092 on 29/12 and tagged 1 ATR objective of 18296 on same day. This FA got revisted on 04/01 which was the ‘T+4’ Day & did show some demand coming back. This FA was broken & closed below it on 05/01 hence is no longer a valid support level.
- The settlement day Roll Over point (Jan 2023) is 18299
- The VWAP & POC of Dec 2022 Series is 18337 & 18584 respectively.
- The VWAP & POC of Nov 2022 Series is 18295 & 18335 respectively.
- The VWAP & POC of Oct 2022 Series is 17350 & 17260 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 18034-18114-18164
HVNs – 18181
(** indicates series POC)
NF Weekly Settlement Profile (30th Dec 2022 to 05th Jan 2023)
18066 [ 18374 / 17964 ]
NF opened the week with a gap up tagging the 1 ATR objective of 18374 from last week’s FA of 17941 to the dot but could not get above it and remained largely in Friday’s range over the next couple of sessions forming a 3-day balance and signalled the start of a fresh imbalance from Wednesday onwards where it left an initiative selling tail from 18227 to 18303 shaping a ‘b’ shape long liquidation profile as it revisited the 29-Dec’s FA of 18092 and continued the downside probe with another A period singles on Thursday from 18164 to 18190 followed by an extenion handle at 18082 as it hit a low of 17964 completing the 3 IB weekly target of 17972. The weekly profile is a Trend One Down with overlapping to higher Value at 18126-18279-18324 with the VWAP at 18193 which will be the positional reference going forward as the auction looks to target the insecure lows of 17941 in the coming settlement week.
Click here to view this week’s daily profiles in NF on MPLite
Business Areas for 06th Jan 2023:
Up
18082 – Ext Handle (05 Jan)
18114 – dPOC from 05 Jan
18164 – Selling Tail (05 Jan)
18193 – Weekly VWAP
18227 – Selling Tail (04 Jan)
18265 – IB Singles Mid (04 Jan)
Down
18056 – Closing HVN (05 Jan)
18020 – SOC from 05 Jan
17970 – Buying tail
17941 – Weekly FA
17897 – Buying tail (28 Oct)
17863 – 2 ATR from yPOC
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Jan F: 42771 [ 43300/ 42473 ]
BNF also opened higher but got rejected right at yVWAP of 43299 as it made a high of 43300 & triggered a big 415 point drop to 42885 in the IB which in turn led to a small bounce back to 43075 in the C side as it confirmed the long initiative selling tail was there to stay.
The auction then saw the sellers leaving an extension handle at 42880 in the E period and made a big trending move lower as it re-visted the 26th Dec FA of 42615 & even tagged the PBL of 42475 while making a low of 42473 marking the end of the downside in the I TPO.
A small responsive buying tail till 42539 then gave a retracement back to VWAP into the close as BNF made a high of 42817 and saw the dPOC shift lower to 42785 where it eventually closed leaving a DD (Double Distribution) Trend Down DAy wih completely lower Value.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was an Open Auction In Range (OAIR)
- The Day type was a Double Distibution Trend Day – Down (DD)
- Largest volume was traded at 42785 F
- Vwap of the session was at 42842 with volumes of 43.2 L and range of 826 points as it made a High-Low of 43300-42473
- BNF confirmed a FA at 43348 on 03/01 and 1 ATR objective comes to 43935. This FA got negated on 04/01 & BNF completed the 1 ATR downside target of 42761 on 05/01.
- The settlement day Roll Over point (Jan 2023) is 43420
- The VWAP & POC of Dec 2022 Series is 43030 & 43128 respectively.
- The VWAP & POC of Nov 2022 Series is 42150 & 42959 respectively.
- The VWAP & POC of Oct 2022 Series is 39750 & 38950 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 42473-42785-42866
HVNs – 43270
(** indicates series POC)
BNF Weekly Settlement Profile (30th Dec 2022 to 05th Jan 2023)
42771 [ 43710 / 42473 ]
BNF has left a Neutral Extreme Weekly Profile to the downside probing higher for most part as it tagged the higher weekly POC of 43658 while making a high of 43710 but left an initiative selling tail on Wednesday to start a trending move lower for the rest of the week confirming yet another FA on the weekly timeframe & completing the 1 ATR target of 42486 as it made a low of 42473 after leaving an extension handle at 42880 which will be the immediate reference on the upside along with this week’s NeuX VWAP of 43242 which will now be a positional supply point. Value for the week was overlapping to higher at 43121-43373-43571.
Click here to view this week’s daily profiles in BNF on MPLite
Business Areas for 06th Jan 2023:
Up
42817 – Closing PBH
42939 – HVN from 05 Jan
43075 – Selling Tail
43187 – IB singles mid
43242 – Weekly VWAP
43373 – Weekly POC
43501 – Ext Handle
Down
42750 – Closing HVN (05 Jan)
43651 – SOC from 05 Jan
43539 – Buying tail
42475 – PBL from 26 Dec
42373 – VPOC from 26 Dec
42294 – Monthly 2 IB
42087 – IB Singles Mid (26 Dec)
(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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