Nifty Dec F: 18720 [ 18740 / 18637 ]
NF opened with a probe below PDL as it made new lows of the week at 18637 almost completing the 1 ATR target of 18633 from yesterday’s FA (Failed Auction) of 18775 but was rejected back into previous day’s range as it went on to make a high of 18740 in the B period leaving a narrow 103 point range.
The auction remained in the IB (Initial Balance) range for the rest of the session forming a Normal Day and a 3-1-3 profile with overlapping Value and 2 small tails at both ends looking ready to move away from the 3-day balance it has been forming 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 (N)
- Largest volume was traded at 18722 F
- Vwap of the session was at 18699 with volumes of 59.1 L and range of 103 points as it made a High-Low of 18740-18637
- NF confirmed a FA at 18775 on 07/12 and almost tagged 1 ATR objective of 18633 on 08/12. The 2 ATR target comes to 18490
- The settlement day Roll Over point (Dec 2022) is 18650
- The VWAP & POC of Nov 2022 Series is 18295 & 18335 respectively.
- The VWAP & POC of Oct 2022 Series is 17350 & 17260 respectively.
- The VWAP & POC of Sep 2022 Series is 17500 & 17643 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 18681-18722-18729
HVNs – 18645 / 18722** / 18772
(** indicates series POC)
Previous week’s Neutral Extreme Up profile did not give a follow up as NF formed an inside bar both in terms of range & value this week leaving a ‘b’ shape composite with an initiative selling tail from 18856 to 18949 as it made lower lows on all 5 days filling up previous week’s zone and took support at the series RO point of 18650 leaving a tiny responsive buying tail at lows before closing right at the prominent POC of 18718. Value has contracted for the week at 18673-18718-18790 and has a good chance of a range expansion happening in the new settlement week which starts from tomorrow.
Click here to view this week’s daily profiles in NF on MPLite
Business Areas for 09th Dec 2022:
Up
18731 – Selling Tail (08 Dec)
18775 – FA from 07 Dec
18809 – 2-day comp VPOC
18856 – Selling Tail (02 Dec)
18902 – IB singles mid
18945 – dPOC from 01 Dec
Down
18718 – Weekly POC
18685 – PBL from 08 Dec
18651 – Buying Tail (08 Dec)
18619 – dPOC from 25 Nov
18566 – Weekly FA
18513 – VPOC from 24 Nov
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Dec F: 43752 [ 43797 / 43225 ]
BNF also opened lower almost tagging the buying tail of 43215 but found some initiative demand coming in as it confirmed an Open Test Drive up swiping through previous day’s range in the IB where it left a long A period initiative tail from 43448 to 43225 and negated the FA (Failed Auction) of 43541 in just ‘T+1’ Day while making a high of 43573.
The auction then turned into a narrow range balance above the day’s VWAP building volumes around the FA point before starting another imbalance in the second half of the day as it left couple of extension handles at 43620 & 43650 getting into 01st Dec’s selling tail before closing the day with another one at 43750 as it made new ATH of 43797 leaving a Trend Day Up and signalling the move away from the 10-day balance it was forming
Click here to view the latest profile in BNF on MPLite
- The BNF Open was an Open Auction In Range (OAIR)
- The Day type was a Trend Day – Up (TD)
- Largest volume was traded at 43547 F
- Vwap of the session was at 43588 with volumes of 31.7 L and range of 572 points as it made a High-Low of 43797-43225
- BNF confirmed a FA at 43541 on 07/12 and tagged 1 ATR objective of 43244 on the same day. This FA got negated on 08/12 and the auction almost completed the 1 ATR target of 43839 in the same session.
- The settlement day Roll Over point (Dec 2022) is 43331
- The VWAP & POC of Nov 2022 Series is 42150 & 42959 respectively.
- The VWAP & POC of Oct 2022 Series is 39750 & 38950 respectively.
- The VWAP & POC of Sep 2022 Series is 39910 & 40770 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 43379-43547-43690
HVNs – 42955 / 43303**
(** indicates series POC)
This week’s settlement remained largely in the Gaussian Curve of 649 points from last week as BNF continued the balance forming another narrow range Bell Profile on the higher timeframe with almost similar Value at 43252-43324-43504 but signalled a move away from this bracket with a Trend Day Up on Thursday where it recorded new ATH of 43797 leaving an extension handle at 43574.
Click here to view this week’s daily profiles in BNF on MPLite
Business Areas for 09th Dec 2022:
Up
43758 – closing HVN (08 Dec)
43838 – upside 1 ATR from FA
43927 – 1 ATR from 43630
44082 – Monthly 2 IB
44199 – 2 ATR from yPOC
44325 –
Down
43750 – Extension Handle (08 Dec)
43650 – Extension Handle (08 Dec)
43588 – Trend Day VWAP (08 Dec)
43448 – Buying Tail (08 Dec)
43327 – dPOC from 07 Dec
43177 – 07 Dec Swing low
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
For more tradeable ideas and intraday trading strategies based on MarketProfile and the OrderFlow live charts with OrderFlow analysis Live, subscribe to the trading room. The Vtrender Trading Room hosts India’s largest MarketProfile community live every trading session from 9.15 am to 3.30 pm.
If not a Trading Room member you can get immediate access at – https://www.explara.com/e/vtrendertradingroomlive
