Nifty Jul F: 15990 [ 16020 / 15781 ]
NF rejected previous day’s NeuX (Neutral Extreme) close by opening above the HVN of 15772 & scaling the NeuX high of 15805 as it even negated the mid-profile selling singles of 15853 to 15875 while making a high of 15885 in the IB after leaving similar lows at 15781.
The auction then confirmed a poor low FA (Failed Auction) by making a RE (Range Extension) to the upside in the D period where it tagged the NeuX VWAP of 15895 but gave an immediate reaction by breaking below the day’s VWAP in the E TPO and leaving an important PBL (Pull Back Low) at 15814. NF then not only got back above VWAP but made few more REs higher and completed the 1 ATR objective of 15999 to the dot in the I period. This inturn led to a profit booking liquidation break to 15876 in the L period from where NF bounced back sharply to make new highs of 16020 into the close.
Today’s range was almost same as the previous session giving a 2-day balance (Click here to view the composite chart on MPLite) with Value at 15860-15968-16008 and can expect a move away from there in the coming session with the bias towards the 2 ATR target of 16217.
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 Normal Variation Day – Up (NV)
- Largest volume was traded at 15864 F
- Vwap of the session was at 15908 with volumes of 156.8 L and range of 239 points as it made a High-Low of 16020-15781
- NF confirmed a poor low FA at 15781 on 05/07 and tagged the 1 ATR objective of 15999 on the same day. The 2 ATR target comes to 16217.
- NF confirmed a FA at 15651 on 04/07 and tagged the 1 ATR objective of 15871 on 05/07. The 2 ATR target comes to 16092.
- NF confirmed a FA at 15514 on 01/07 and tagged the 2 ATR objective of 15935 on 05/07.
- The settlement day Roll Over point (Jul 2022) is 15720
- The VWAP & POC of Jun 2022 Series is 15895 & 15793 respectively.
- The VWAP & POC of May 2022 Series is 16270 & 16340 respectively.
- The VWAP & POC of Apr 2022 Series is 17430 & 17145 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 15815-15864-15955
HVNs – 15670 / 15838**
(** indicates series POC)
Business Areas for 07th Jul 2022:
Up
16008 – 2-day Composite VAH
16069 – Gap Mid-point (13th Jun)
16092 – 2 ATR from FA of 15652
16130 – HVN from 26th May
16174 – NeuX zone low (26th May)
16217 – 2 ATR from 15781
16271 – Weekly VPOC
Down
15968 – 2-day Composite POC
15908 – VWAP from 06th Jul
15864 – dPOC from 06th Jul
15814 – PBL from 06th Jul
15772 – Closing HVN (05th Jul)
15720 – RO Point
15696 – SOC from 04th Jul
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Jul F: 34370 [ 34434 / 33915 ]
BNF also rejected the NeuX close of previous session with a higher open and a buying tail in the IB from 34009 to 33915 and filled up the low volumes zone of yesterday’s profile before repairing the poor highs of 34400 as it hit 34425 in the H period but left another set of similar highs at 34427 & 34434 into the close leaving a ‘p’ shape profile with completely inside Value leading to a 2-day composite at 34132-34330-34374 which will be the reference for the coming session(s).
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 Normal Variation Day – Up (NV)
- Largest volume was traded at 34260 F
- Vwap of the session was at 34240 with volumes of 49.2 L and range of 519 points as it made a High-Low of 34434-33915
- The settlement day Roll Over point (Jul 2022) is 33380
- The VWAP & POC of Jun 2022 Series is 33969 & 33498 respectively.
- The VWAP & POC of May 2022 Series is 34570 & 34477 respectively.
- The VWAP & POC of Apr 2022 Series is 37090 & 36386 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 34120-34260-34349
HVNs – 33179 / 33833 / 34331**
(** indicates series POC)
Business Areas for 07th Jul 2022:
Up
34400 – Monthly IBH
34505 – Weekly ATR objective
34614 – HVN from 10th Jun
34737 – VPOC from 10th Jun
34855 – Buying tail (09th Jun)
34957 – VPOC from 09th Jun
35099 – Spike Low (09th Jun)
Down
34375 – HVN from 06th Jul
34240 – VWAP from 06th Jul
34104 – PBL from 06th Jul
34009 – Buying Singles (06th Jul)
33918 – Singles Mid-point
33786 – Closing HVN (05th Jul)
33623 – Buying Singles (04th Jul)
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
For more tradeable ideas and intraday trading strategies based on MarketProfile and the OrderFlow live charts with OrderFlow analysis Live, subscribe to the trading room. The Vtrender Trading Room hosts India’s largest MarketProfile community live every trading session from 9.15 am to 3.30 pm.
If not a Trading Room member you can get immediate access at – https://www.explara.com/e/vtrendertradingroomlive
