Nifty Jun F: 16429 [ 16490 / 16354 ]
NF opened lower and broke below the weekly IBL of 16460 to give a further fall down to 16390 in the B period as it formed a narrow IB (Initial Balance) range of just 100 points leaving tails at both the ends. The auction then made a RE (Range Extension) to the downside and went on to make new lows for the day at 16354 but stopped just above May’s POC of 16340 and left a responsive buying tail indicating return of demand.
NF then remained in a narrow range forming a well balanced Value area of just 50 points as it left a 3-1-3 profile for the day with a close right at the prominent POC of 16425 and has a good chance of turning into an imbalance in the coming session.
Click here to view the latest profile in NF on MPLite
- The NF Open was an Open Auction (OA)
- The Day type was a Normal Day (3-1-3 profile)
- Largest volume was traded at 16424 F
- Vwap of the session was at 16419 with volumes of 107 L and range of 136 points as it made a High-Low of 16490-16354
- The settlement day Roll Over point (Jun 2022) is 16180
- The VWAP & POC of May 2022 Series is 16270 & 16340 respectively.
- The VWAP & POC of Apr 2022 Series is 17430 & 17145 respectively.
- The VWAP & POC of Mar 2022 Series is 16753 & 17255 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 16397-16424-16446
HVNs – 16070 / 16309 / 16573** / 16621
(** indicates series POC)
Business Areas for 08th Jun 2022:
Up
16460 – Weekly IBL
16514 – SOC from 06th Jun
16548 – VWAP from 06th June
16582 – VPOC from 06th Jun
16631 – Extension Handle (03rd Jun)
16668 – Weekly VAH
16701 – VWAP from 03rd Jun
Down
16424 – dPOC from 07th Jun
16379 – Buying singles (07th Jun)
16340 – Selling tail (27th May)
16309 – VPOC from 27th May
16255 – PBL from 27th May
16186 – VPOC from 26th May
16130 – HVN from 26th May
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Jun F: 35091 [ 35270 / 34916 ]
BNF opened lower confirming a multi-day FA at PDH of 35527 where it got rejected from entry into the 6-day composite turning the PLR (Path of Least Resistance) to the downside & made couple of REs completing the 1 ATR objective of 34984 to the dot in the E period which was also the 26th May Extension Handle along with the 1.5 IB objective for the day.
The auction made 3 more REs lower but could only manage marginal new lows as it tagged 34916 in the J TPO and this seller exhaustion triggered a short covering move back to the G period PBH of 35132 into the close with BNF forming a balanced profile for the day with completely lower Value & a close near the dPOC of 35112.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was an Open Auction (OA)
- The Day type was a Normal Day (Gaussian Profile)
- Largest volume was traded at 35112 F
- Vwap of the session was at 35072 with volumes of 37.1 L and range of 354 points as it made a High-Low of 35270-34916
- BNF has confirmed a FA at 36132 on 30/05 and tagged the 1 ATR objective of 35463 on 31/05. The 2 ATR target comes to 34793.
- BNF confirmed a FA at 34483 on 26/05 and tagged the 2 ATR objective of 35823 on 30/05. This FA has not been tagged and is now a positional reference..
- The settlement day Roll Over point (Jun 2022) is 35250
- The VWAP & POC of May 2022 Series is 34570 & 34477 respectively.
- The VWAP & POC of Apr 2022 Series is 37090 & 36386 respectively.
- The VWAP & POC of Mar 2022 Series is 34992 & 35648 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 35011-35112-35145
HVNs – 34710 / 35645** / 35854
(** indicates series POC)
Business Areas for 08th Jun 2022:
Up
35141 – Weekly IBL
35250 – Jun series RO (Roll Over) point
35397 – VPOC from 06th Jun
35527 – Multi-day FA from 06th Jun
35663 – VPOC from 03rd Jun
35802 – HVN from 03rd Jun
35964 – IB singles mid-point
36132 – FA from 30th May
Down
35040 – HVN from 07th Jun
34933 – Buying singles (07th Jun)
34853 – NeuX VWAP from 26th May
34710 – HVN from 26th May
34547 – VPOC from 26th May
34432 – Weekly VPOC
34200 – Buying singles (24th May)
34068 – LVN from 20th May
(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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