Nifty May F: 16694 [ 16980 / 16660 ]
NF opened with a gap up of 153 points and continued to probe higher in the IB (Initial Balance) where it left a buying tail from 16852 to 16792 along with an extension handle at 16880 and went on to tag the yPOC of 16955 while making a high of 16958.
The auction then made the dreaded C side extension to 16980 falling just short of the Trend Day PBH of 16993 and reversed the probe to the downside as it not only negated the extension handle & the morning buying singles confirming a FA (Failed Auction) at the top but went on to test yesterday’s HVN of 16700 along with the mini buying tail of 16671 to 16638 while making a low of 16660 leaving a Neutral Extreme Day Down with both range & value being completely inside.
Click here to view the latest profile in NF on MPLite
- The NF Open was an Open Auction In Range (OAIR)
- The Day type was a Neutral Extreme Day – Down (NeuX)
- Largest volume was traded at 16863 F
- Vwap of the session was at 16829 with volumes of 139.1 L and range of 320 points as it made a High-Low of 16980-16660
- NF confirmed a FA at 16980 on 05/05 and tagged the 1 ATR objective of 16747 on the same day. The 2 ATR target comes to 16513.
- The settlement day Roll Over point (May 2022) is 17265
- The VWAP & POC of Apr 2022 Series is 17430 & 17145 respectively.
- The VWAP & POC of Mar 2022 Series is 16753 & 17255 respectively.
- The VWAP & POC of Feb 2022 Series is 17183 & 17409 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 16769-16862-16964
HVNs – 16991** / 17120
(** indicates series POC)
Business Areas for 06th May 2022:
Up
16704 – HVN from 05th May
16762 – Extension Handle (05th May)
16829 – NeuX VWAP from 05th May
16863 – dPOC from 05th May
16923 – PBH from 05th May
16980 – FA from 05th May
17033 – Extension Handle (04th May)
Down
16675 – Buying singles (05th May)
16638 – Buying Singles (11th Mar)
16575 – Buying Singles (10th Mar)
16513 – 2 ATR from daily FA of 16980
16452 – 1 ATR from weekly FA of 17138
16373 – Weekly 1 ATR Target
16336 – VWAP from 09th Mar
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty May F: 35251 [ 35989 / 35162 ]
BNF also opened higher by 366 points and stayed above the extension handle of 35566 as it continued to probe higher in the IB scaling above the Trend Day VWAP of 35806 and went on to make a high of 35887 in the B period and followed it up with couple of REs (Range Extension) higher in the C & D TPOs testing previous day’s SOC (Scene Of Crime) of 35940 but could not sustain as it left a small responsive selling tail as the E period closed below the day’s VWAP.
The auction then tested the morning buying tail of 35674 to 35568 in the F period taking support there which led to a bounce above the day’s VWAP in the G TPO where it could only manage a PBH at 35875 indicating that the supply was prevailing over the demand triggering a trending move lower for the rest of the day as BNF left couple of extension handles at 35568 & 35460 and almost matched PDL of 35146 while making a low of 35162 into the close leaving a Neutral Extreme Down Day with completely inside range.
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 Neutral Extreme Day – Down (NeuX)
- Largest volume was traded at 35699 F
- Vwap of the session was at 35603 with volumes of 51.7 L and range of 827 points as it made a High-Low of 35989-35162
- The settlement day Roll Over point (May 2022) is 36515
- The VWAP & POC of Apr 2022 Series is 37090 & 36386 respectively.
- The VWAP & POC of Mar 2022 Series is 34992 & 35648 respectively.
- The VWAP & POC of Feb 2022 Series is 37712 & 37712 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 35425-35699-35989
HVNs – 35944** / 36120
(** indicates series POC)
Business Areas for 06th May 2022:
Up
35290 – HVN from 05th May
35460 – Extension Handle (05th May)
35568 – Extension Handle (05th May)
35674 – SOC from 05th May
35875 – PBH from 05th May’
35957 – Selling singles (05th May)
36157 – dPOC from 04th May
Down
35230 – M TPO VWAP (05th May)
35138 – Weekly 2 IB obective
34992 – Mar 2022 Series VWAP
34810 – VWAP from 11th Mar
34605 – Buying singles (11th Mar)
34485 – 1 ATR from weekly FA of 36340
34334 – Monthly 1.5 IB target
(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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