Nifty May F: 14679 [ 14698 / 14549 ]
NF made a higher open at 14625 negating the selling extension handle of 14600 but the auction got rejected at yVWAP of 14650 triggering a probe lower to 14549 in an action packed ‘B’ period where it got swiftly rejected leaving a buying tail at the yPOC turning the PLR (Path of Least Resistance) to the upside. The ‘D’ & ‘H’ periods then made REs on the upside as NF hit 14698 but the upmove got stalled right below the VAH of the 2-day composite and formed a nice balanced profile for the day leaving an inside bar both in terms of range & value with a prominent POC at 14614 but a close near the HVN of 14691 which would be the immediate reference for the next open with a good chance of this balance turning into an imbalance.
- The NF Open was a Open Auction In Range (OAIR)
- The Day type was a Normal Variation Day – Up (NV)
- Largest volume was traded at 14614 F
- Vwap of the session was at 14634 with volumes of 103.6 L and range of 149 points as it made a High-Low of 14698-14549
- The settlement day Roll Over point (May) is 14925
- The VWAP & POC of Apr Series is 14576 & 14375 respectively.
- The VWAP & POC of Mar Series is 14816 & 14737 respectively.
- The VWAP & POC of Feb Series is 14893 & 15115 respectively.
- Value zones (volume profile) are at 14589-14614-14662
HVNs – 14606 / 14676 / 14896 / 14997
BankNifty May F: 32974 [ 33061 / 32135 ]
BNF also opened higher and similar to NF, made a downside probe in the ‘B’ period breaking below previous low but left a long buying tail in the IB from 32486 to 32135 as it took support right at the monthly POC of 32490 which meant that the downside for the day was limited and the auction formed a ‘p’ shape profile for the day giving a mini spike into the close where it hit 33061 and left an inside bar both in terms of range & value. BNF has left a HVN at 32951 which would be the immediate reference on the downside for the next open below which it could test the zone of 32715-32645 which if broken could bring the lower HVN of 32428 whereas on the upside, sustaining above 33009 could bring in new highs for the week and a probable move to the VPOC of 33400 & the FA of 33599.
- The BNF Open was a Open Auction In Range (OAIR)
- The Day type was a Normal Day (‘p’ shape profile)
- Largest volume was traded at 32898 F
- Vwap of the session was at 32751 with volumes of 52.7 L and range of 926 points as it made a High-Low of 33061-32135
- BNF confirmed a FA at 33599 on 30/04 and tagged the 2 ATR objective of 31825 on 03/05.
- The settlement day Roll Over point (May) is 33765
- The VWAP & POC of Apr Series is 33260 & 32490 respectively.
- The VWAP & POC of Mar Series is 34618 & 33870 respectively.
- The VWAP & POC of Feb Series is 35530 & 35820 respectively.
- Value zones (volume profile) are at 32578-32898-32921
HVNs – 32423 / 32615 / 32886 / 33390
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