Nifty Jul F: 15837 [ 15930 / 15815 ]
NF continued the upside probe with yet another initiative buying tail in the ‘A’ period as it made an OTF (One Time Frame) probe higher till rhe ‘F’ period where it not only completed the 80% Rule in the 7-day composite (22nd Jun to 30th Jun) of 15794-15831-15894 but went on to match previous week’s high of 15930 but once again stalled just below the VPOC of 15932 marking the end of the trending move higher. The auction then formed a balance leaving a PBL at VWAP in the ‘H’ period but the late break of VWAP in the ‘K’ period and the entry back into the 7-day composite triggered a big liquidation move into the close as NF negated the entire morning singles hitting a low of 15820 right at yesterday’s buying tail of 15815 to 15741 which will be the downside reference in the coming session at open. On the upside, the immediate level to sustain would be 15849 above which today’s Scene Of Crime at 15893 will need to be taken out for the probe to continue higher.
- The NF Open was a Open Auction In Range (OAOR)
- The Day type was a Normal Variation Day – Up (NV)
- Largest volume was traded at 15833 F
- Vwap of the session was at 15877 with volumes of 52.6 L and range of 115 points as it made a High-Low of 15930-15815
- NF confirmed a FA at 15659 on 02/07 and tagged the 1 ATR target of 15801 on 05/07. The 2 ATR objective comes to 15943
- The settlement day Roll Over point (July) is 15840
- The VWAP & POC of Jun Series is 15721 & 15721 respectively.
- The VWAP & POC of May Series is 14945 & 15094 respectively.
- The VWAP & POC of Apr Series is 14576 & 14375 respectively.
- Value zones (volume profile) are at 15821-15833-15901
HVNs – 15817
BankNifty Jul F: 35677 [ 35925 / 35274 ]
BNF continued the imbalance with an Open Test Drive start as it not only left an initiative buying tail in the IB from 35523 to 35274 but went on to confirm an extension handle at 35590 and trended higher till the ‘J’ period tagging the VPOCs of 35498 (28th June) & 35799 (7th June) while making a high of 35925 and in the process completed the 2 IB tagret for the day. Having made the biggest daily range of the series so far, the auction then saw some profit booking coming in the ‘K’ period but the failure to defend the day’s VWAP by the buyers led to further liquidation with BNF almost testing the morning extension handle of 35590 before closing the day around the VWAP of 35691 which would be the immediate reference for the next open on the upside along with the dPOC of 35742 with the 250 point buying tail of today expected to bring back fresh demand.
- The BNF Open was a Open Test Drive – Up (OTD) on lower volumes
- The Day type was a Normal Variation Day – Up (‘p’ shape profile)
- Largest volume was traded at 35742 F
- Vwap of the session was at 35691 with volumes of 36 L and range of 651 points as it made a High-Low of 35925-35274
- The settlement day Roll Over point (July) is 35000
- The VWAP & POC of Jun Series is 35012 & 35070 respectively.
- The VWAP & POC of May Series is 33568 & 34828 respectively.
- The VWAP & POC of Apr Series is 33260 & 32490 respectively.
- Value zones (volume profile) are at 35602-35742-35882
HVNs – 35000 / 35276
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