NF not only opened above previous high but continued the Trend Day imbalance with another Open Drive Up as it tagged the February 2023 Monthly POC of 17839 in the IB (Initial Balance) while leaving a long A period buying tail from 17818 to 17724.
The auction then went on to make couple of small REs (Range Extension) in the C & D TPOs as it found acceptance in the 22nd Feb Initiaitive Selling singles from 17886 to 17817 but could only manage to hit 17864 as the supply started to get dominant and longs booked profit forming the dPOC at 17832 & triggering a probe lower for the rest of the day negating half of the morning singles as NF left a closing PBL at 17761 leaving a ‘p’ shape Normal Day with completely higher Value.
Click here to view the latest profile in NF on Vtrender Charts
- The NF Open was an Open Drive – Up (OD)
- The Day Type was a Normal Day (‘p’ shape profile)
- Largest volume was traded at 17832 F
- Vwap of the session was at 17810 with volumes of 127 L and range of 140 points as it made a High-Low of 17864-17724
- The settlement day Roll Over point (Mar 2023) is 17635
- The VWAP & POC of Feb 2023 Series is 17717 & 17839 respectively.
- The VWAP & POC of Jan 2023 Series is 17923 & 18132 respectively.
- The VWAP & POC of Dec 2022 Series is 18337 & 18584 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 17790-17832-17850
(** indicates series POC)
Business Areas for 08th Mar 2023:
Up
17776 – Closing HVN (06 Mar)
17811 – PBH from 06 Mar
17854 – Selling tail (06 Mar)
17910 – Weekly DD zone
17947 – VPOC (21 Feb)
18002 – PBH from 21 Feb
Down
17761 – Buying Tail (06 Mar)
17700 – Monthly IBH
17666 – VPOC from 03 Mar
17625 – VWAP from 03 Mar
17594 – Extension Handle (03 Mar)
17562 – IB ext handle (03 Mar)
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Mar F: 41517 [ 41799/ 41425 ]
BNF also made a Drive like open though on just about average volumes as it went on to tag the 17th Feb HVN of 41742 & got into that day’s A period Selling Tail from 41785 to 41860 but could only manage to tag 41799 in the IB marking the end of the imbalance to the upside.
The auction then reversed the probe breaking below the day’s VWAP in the C period and followed it up with a RE to the downside in the E TPO as it remained below VWAP for the rest of the day making a slow move towards the yPOC of 41419 which it almost tagged while making a low of 41425 in the L period and saw the dPOC shift lower to 41535 where it eventually closed leaving a ‘b’ shape profile for the day with overlapping to higher Value.
Click here to view the latest profile in BNF on Vtrender Charts- The BNF Open was an Open Auction (OA)
- The Day Type was a Normal Day (‘b’ shape profile)
- Largest volume was traded at 41535 F
- Vwap of the session was at 41603 with volumes of 27.8 L and range of 374 points as it made a High-Low of 41799-41425
- The settlement day Roll Over point (Mar 2023) is 40365
- The VWAP & POC of Feb 2023 Series is 40880 & 41462 respectively.
- The VWAP & POC of Jan 2023 Series is 41965 & 42320 respectively.
- The VWAP & POC of Dec 2022 Series is 43030 & 43128 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 41431-41535-41679
Business Areas for 06th Mar 2023:
Up
41604 – VWAP from 06 Mar
41733 – SOC from 06 Mar
41853 – Weekly VPOC
41951 – Tail from 16 Feb
42050 – VPOC from 16 Feb
42180 – PBH from 16 Feb
Down
41514 – Weekly IBH
41419 – VPOC from 03 Mar
41257 – VWAP from 03 Mar
41161 – Mid-profile singles
40997 – Buying Tail (03 Mar)
40876 – IB singles mid (03 Mar)
(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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