Nifty Oct F: 17830 [ 17840 / 17631 ]
NF opened well below the yPOC of 17709 and as expected went on to test the extension handle of 17636 as it made a low of 17631 in the opening minutes after which it formed a very narrow range Initial Balance of just 56 points as it made a low of 17638 in the B period confirming that the buyers were defending this level. The auction then made the typical C side extension to the upside which got rejected triggering a fall to the day’s VWAP in the D period where it left an important PBL (Pull Back Low) at 17667 to re-confirm that the PLR (Path of Least Resistance) was firmly higher and the G TPO made a fresh & big RE (Range Extension) after leaving an extension handle at 17700 which in turn brought about a Trending Move higher for the rest of the day as NF left 3 more extension handles at 17740, 17780 & 17807 and tagged the 28th Sep selling extension handle of 17813 while making a high of 17840. The dPOC however shifted higher to 17830 which will be the immediate reference for the next open along with the daily extension handle of 17852 on the upside in the coming session. On the downside, today’s VWAP of 17739 will be the level to watch for in case of any dips below 17807 & 17780.
Click here to view the latest profile in NF on MPLite
- The NF Open was a Open Auction In Range (OAIR)
- The Day type was a Trend Day – Up (TD)
- Largest volume was traded at 17830 F
- Vwap of the session was at 17739 with volumes of 62.9 L and range of 209 points as it made a High-Low of 17840-17631
- NF confirmed a FA at 17758 on 30/09 and almost tagged the 2 ATR objective of 17426 on 01/10. This FA was re-visited on 05/10 which was the ‘T+3’ day and closed well above it.
- The settlement day Roll Over point (October) is 17611
- The VWAP & POC of Sep Series is 17519 & 17365 respectively.
- The VWAP & POC of Aug Series is 16455 & 16255 respectively.
- The VWAP & POC of Jul Series is 15778 & 15820 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 17681-17830-17840
HVNs – 17751 / 17817
Business Areas for 06th OCt:
Up
17852 – Daily Extension Handle from previous week
17910 – Selling Singles from 28th Sep
17949 – Weekly ATR Target
17975 – Daily High from 27th Sep
18022 – 1 ATR from 17830
Down
17780 – Extension handle from 05th Oct
17739 – Trend Day VWAP from 05th Oct
17700 – First extension handle from 05th Oct
17667 – PBL (Pull Back Low) from 05th Oct
17636 – Extension Handle from 04th Oct
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Oct F: 37864 [ 37912 / 37472 ]
BNF also opened lower and formed a narrow IB range of just 200 points after taking support at 37472 in the A period and formed a balance for the first half of the day as it remained in this IB range till the G period building volumes at 37564 and gave a move away from here in the ‘H’ period with the help of an extension handle at 37672 as the auction went on to make new highs for the day at 37860 and formed another balance higher as it completed the 2 IB objective for the day while hitting 37912 in the K period and saw the dPOC also shift higher to 37864 into the close leaving a Double Distribution profile with the mid-profile singles from 37752 to 37672.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Auction In Range (OAIR)
- The Day type was a Double Distribution Trend Day – Up (DD)
- Largest volume was traded at 37864 F
- Vwap of the session was at 37699 with volumes of 29.1 L and range of 440 points as it made a High-Low of 37912-37472
- BNF confirmed a FA at 38023 on 30/09 and completed the 1 ATR objective of 37446 on 01/10. The 2 ATR target comes to 36868. This FA is currently on ‘T+4’ Days.
- The settlement day Roll Over point (October) is 37596
- The VWAP & POC of Sep Series is 37210 & 36633 respectively.
- The VWAP & POC of Aug Series is 35715 & 35616 respectively.
- The VWAP & POC of Jul Series is 35105 & 34804 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 37590-37864-37912
HVNs – 35840 / 36749
Business Areas for 06th Oct:
Up
37935 – HVN from 30th Sep
38023 – FA (Failed Auction) from 30th Sep
38135 – PBH (Pull Back High) from 29th Sep
38319 – Selling singles from 28th Sep
38523 – Weekly FA from 28th Sep
Down
37752 – DD (Double Distribution) Singles
37672 – Extension Handle from 05th Oct
37564 – HVN from 05th Oct
37355 – VPOC from 01st Oct
37166 – PBL (Pull Back Low) from 01st Oct
(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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