Nifty Oct F: 17808 [ 17884 / 17753 ]
NF opened with a huge gap up of 145 points yet again not giving any follow through to a Neutral Extreme (NeuX) Profile and staying above the NeuX VWAP of 17745 caused further short covering as the auction left a buying tail from 17791 to 17753 and went on to make multiple REs (Range Extension) to the upside revisiting the FA (Failed Auction) of 17865 but failed to get fresh demand at these new weekly highs of 17884 which triggered a retracement back to 17791 into the close forming a ‘p’ shape profile for the day. The last 3 days has seen almost overlapping POC & Value giving a nice 3-day composite at 17728-17816-17875 so there is a good chance of a move away from here in the coming session or two.
Click here to view the latest profile in NF on MPLite
- The NF Open was a Open Auction In Range (OAIR)
- The Day type was a Normal Variation Day – Up (‘p’ shape profile)
- Largest volume was traded at 17818 F
- Vwap of the session was at 17822 with volumes of 80.2 L and range of 131 points as it made a High-Low of 17884-17753
- NF confirmed a FA at 17865 on 06/10 and tagged the 1 ATR objective of 17680 on the same day. This FA got re-visited in ‘T+1’ Day and is no longer a valid reference.
- The settlement day Roll Over point (October) is 17611
- The VWAP & POC of Sep Series is 17519 & 17365 respectively.
- The VWAP & POC of Aug Series is 16455 & 16255 respectively.
- The VWAP & POC of Jul Series is 15778 & 15820 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 17754-17818-17843
HVNs – 17700 / 17751 / 17817
Business Areas for 08th OCt:
Up
17816 – 3-Day Composite POC
17875 – 3-Day Composite VAH
17910 – Selling Singles from 28th Sep
17949 – Weekly ATR Target
17999 – 1 ATR from 17808
Down
17791 – Buying singles from 07th Oct
17745 – NeuX VWAP from 06th Oct
17700 – Mid point of gap up (07th Oct)
17669 – Singles zone from 06th Oct
17630 – HVN from 06th Oct
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Oct F: 37886 [ 38050 / 37768 ]
BNF also opened with a big gap up of 288 points clearly rejecting previous day’s NeuX close but formed a very narrow range IB of just 158 points between 37980 & 37822 and remained in this range till the D period after which it made an attempt to probe lower making a RE in the E period but was swiftly rejected from 37768 as it left a responsive buying tail triggering a short covering move over the next 2 TPOs as the auction made a RE to the upside confirming a FA at lows but the G period stopped just short of the yPOC of 38054 indicating that the upside too was limited triggering a move back into the IB and forming a Neutral Centre Day with a close around the prominent POC of 37895. Both Range & Value was inside previous session with rejections at both ends so needs to take out one of the sides in the coming session(s) to start a fresh imbalance away from here.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Auction In Range (OAIR)
- The Day type was a Neutral Centre Day (NeuC)
- Largest volume was traded at 37895 F
- Vwap of the session was at 37926 with volumes of 41.1 L and range of 630 points as it made a High-Low of 38050-37768
- BNF confirmed a FA at 38190 on 06/10 and tagged the 1 ATR objective of 37581 on the same day. The 2 ATR target comes to 36972.
- The settlement day Roll Over point (October) is 37596
- The VWAP & POC of Sep Series is 37210 & 36633 respectively.
- The VWAP & POC of Aug Series is 35715 & 35616 respectively.
- The VWAP & POC of Jul Series is 35105 & 34804 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 37865-37895-37976
HVNs – 37622 / 37730 / 37874
Business Areas for 08th Oct:
Up
37895 – Prominent POC from 07th Oct
38054 – VPOC from 06th Oct
38190 – FA (Failed Auction) from 06th Oct
38319 – Selling singles from 28th Sep
38465 – Weekly 3 IB Objective
Down
37822 – Buying Singles from 07th Oct
37750 – Extension Handle from 06th Oct
37630 – NeuX zone high from 06th Oct
37475 – Mid point of buying singles (4th Oct)
37355 – VPOC from 01st Oct
(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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