Nifty Sep F: 17683 [ 17788 / 17600 ]
NF opened higher and went on to tag the 30th Aug extension handle of 17769 while making a high of 17788 in the opening minutes but could not sustain above PDH and made a late reversal in the A period back into yesterday’s range and value triggering a liquidation drop down to 17640 in the B period which was followed by a good C side extension to 17600.
The auction held above previous day’s IB singles mid-point which marked the end of the downside for the day and gave a bounce back to 17752 in the H period forming a balance with overlapping Value and a close around the dPOC of 17678.
NF which was stuck between couple of C-side extensions of 17735 & 17491 yesterday is now formed a nice 2-day balance with Value at 17656-17676-17724 and is now stuck between couple of A period (Initiative) tails so one of them needs to get negated for a big move in that direction. (Click here to view the 2-day composite on MPLite)
Click here to view the latest profile in NF on MPLite
- The NF Open was an Open Rejection Reverse – Down (ORR)
- The Day type was a Normal Variation Day – Down
- Largest volume was traded at 17678 F
- Vwap of the session was at 17690 with volumes of 91.7 L and range of 189 points as it made a High-Low of 17788-17600
- NF confirmed a FA at 17735 on 01/09 and completed the 1 ATR objective of 17545 on the same day. This FA got re-visited on 06/09 which was the ‘T+3’ Day and is no longer a valid reference.
- The settlement day Roll Over point (Sep 2022) is 17580
- The VWAP & POC of Aug 2022 Series is 17530 & 17530 respectively.
- The VWAP & POC of Jul 2022 Series is 16556 & 15976 respectively.
- The VWAP & POC of Jun 2022 Series is 15895 & 15793 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 17657-17678-17751
HVNs -17364 / 17598 / 17670**
(** indicates series POC)
Business Areas for 07th Sep 2022:
Up
17685 – 2-Day composite VWAP
17726 – 2-Day composite VAH
17788 – Previous Day High
17839 – dPOC from 30 Aug
17897 – PBH from 19 Aug
17945 – Extension Handle (19 Aug)
Down
17678 – 2-Day composite POC
17600 – Composite Singles
17538 – PBL from 02 Sep
17472 – IB singles mid-point
17440 – 29 Aug High
17411 – Gap Mid-point (30 Aug)
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Sep F: 39812 [ 40174 / 39654 ]
BNF opened the day with a probe to the upside as it went on to tag the 03rd Nov 2021 HVN of 40167 while making a high of 40174 but was swiftly rejected back into previous day’s range breaking below the yPOC of 39917 and making a low of 39833 in the IB.
The auction continued the imbalance to the downside with a big C side extension lower as it completed the 1.5 objective of 39662 but stopped right at 39654 which was the 2-day composite VAH from 1st & 2nd Sep 2022 and left a responsive buying tail marking the end of the downside which triggered a bounce back into the IB & above VWAP as BNF tested the A period singles and made similar highs of 40111 & 40108 indicating the morning sellers were back and led to a move back to test the buying singles as it left a closing PBL at 39729 before closing the day at the dPOC of 39807.
Value was overlapping on both ends leaving another 2-day composite in BNF at 39780-39912-39972 and will need initiative volumes at the open to move away from here to start a fresh imbalance. (Click here to view the 2-day composite on MPLite)
Click here to view the latest profile in BNF on MPLite
- The BNF Open was an Open Rejection Reverse – Down (ORR)
- The Day type was a Normal Variation Day – Down
- Largest volume was traded at 39807 F
- Vwap of the session was at 39910 with volumes of 42.5 L and range of 520 points as it made a High-Low of 40174-39654
- The settlement day Roll Over point (Sep 2022) is 39035
- The VWAP & POC of Aug 2022 Series is 38530 & 38320 respectively.
- The VWAP & POC of Jul 2022 Series is 35427 & 35099 respectively.
- The VWAP & POC of Jun 2022 Series is 33969 & 33498 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 39750-39807-40024
HVNs – 38423 / 39389**
(** indicates series POC)
Business Areas for 07th Sep 2022:
Up
39828 – Previous Week High
39912 – 2-Day composite POC
40014 – LVN from 06 Sep
40111 – Selling Singles (06 Sep)
40276 – Selling singles (03 Nov)
40442 – PBH from 28 Oct 2021
Down
39780 – Current 2-Day composite VAL
39654 – Previous 2-day composite VAH
39537 – Previous 2-day composite POC
39415 – PBL from 02 Sep
39311 – Weekly IBL
39159 – Weekly VWAP
(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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