Nifty Aug F: 16252 [ 16333 / 16233 ]
NF made yet another OAIR (Open Auction In Range) start though remained above the 2-day composite VAH of 16288 and probed higher in the IB (Initial Balance) as it tagged previous day’s HVN and upper reference of 16331 while making a high of 16333 but could not extend any further indicating that the upside was limited. The auction then made a good C side RE (Range Extension) lower and followed it with a marginal new low of 16247 in the ‘D’ period which was the lower reference for the day after which it remained in a narrow range of 16247 to 16295 formed a balance for the rest of the day building volumes at 16263 and made an attempt to spike lower in the ‘L’ period as it made new lows of 16233 but was rejected giving a bounce back to 16270 into the close. As expected, NF not only filled up the zone between 16248 to 16331 but has also formed a nice 3-day balance with Value at 16234-16260-16296 and looks good for a move away from here in the next session.
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 Normal Variation Day – Down (NV)
- Largest volume was traded at 16263 F
- Vwap of the session was at 16279 with volumes of 45.8 L and range of 100 points as it made a High-Low of 16333-16233
- The settlement day Roll Over point (August) is 15805
- The VWAP & POC of Jul Series is 15778 & 15820 respectively.
- The VWAP & POC of Jun Series is 15721 & 15721 respectively.
- The VWAP & POC of May Series is 14945 & 15094 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 16238-16263-16292
Business Areas for 09th Aug:
Up
16296 – 3-day composite VAH
16331 – HVN from 05th Aug
16375 – 1 ATR move from PDL
Down
16234 – 3-day composite VAL
16156 – VPOC from 3rd Aug
16105 – Buying singles from 3rd Aug
(The are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Aug F: 35941 [ 36182 / 35787 ]
BNF also made an OAIR start as it made a low of 35814 at open matching with previous day’s IBL and taking support at the 2-day composite VAL of 35831 after which it probed higher for the rest of the IB (Initial Balance) completing the 80% Rule and even made a small look up above PDH (Previous Day High) tagging 36182 but got rejected back from the probe above the composite VAH of 36151 triggering another round of 80% Rule on the downside. The auction continued to build on the 2-day balance for the rest of the day and made a failed attempt to make a RE (Range Extension) lower in the ‘I’ period but got rejected after forming marginal new lows of 35787 and gave a short covering bounce to the dPOC of 35993 into the close leaving a Normal Day. Value was once again completely inside leaving a 3-day composite at 35841-35935-36118 with a close right at the composite POC which means there is a good chance of a move away from here in the next session provided we get good initiative volumes.
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 Normal Day (Double Inside Bar)
- Largest volume was traded at 35993 F
- Vwap of the session was at 35970 with volumes of 30.4 L and range of 395 points as it made a High-Low of 36182-35787
- The settlement day Roll Over point (August) is 34860
- The VWAP & POC of Jul Series is 35105 & 34804 respectively.
- The VWAP & POC of Jun Series is 35012 & 35070 respectively.
- The VWAP & POC of May Series is 33568 & 34828 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 35852-35993-36030
Business Areas for 09th Aug:
Up
35993 – POC from 06th Aug
36194 – Selling singles from 04th Aug
36415 – Monthly range objective
Down
35883 – HVN from 06th Aug
35748 – Extension Handle from 04th Aug
35544 – Buying transition from 04th Aug
(The 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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