Nifty Jul F: 15735 [ 15890 / 15694 ]
NF opened lower but took support at the yPOC of 15843 and probed higher in the opening minutes as it made a high of 15890 stalling just below the SOC (Scene Of Crime) of 15893 from 6th July clearly rejecting previous day’s spike close as it not only got back into the 3-day composite Value of 15816-15841-15879 but left a small initiative selling tail in the IB(Initial Balance) from 15879 to 15890 turning the PLR (Path of Least Resistance) for the day to the downside. The auction then made a big C side extension lower as it left an extension handle at 15845 & completed the 80% Rule in the composite Value mentioned above while making a low of 15811 from where it gave a small bounce but got rejected right at 15845 leaving a PBH (Pull Back High) in the ‘E’ period which empowered the sellers even more as they showed their full might triggering a 150 point fall over the next 6 periods as it made new lows for the week at 15694 and in the process giving the biggest daily range of this series so far of 196 points and as expected saw some good profit booking coming in with the dPOC shifting lower to 15743 into the close. A Trend Day was last seen in NF on 17th May and from the lows of that day which was at 14744 it has given a good 1200 point move higher so it remains to be seen how effective this latest Trend Day Down turns out to be with the main references being today’s VWAP of 15777 & the extension handle of 15845.
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 Trend Day – Down (TD)
- Largest volume was traded at 15743 F
- Vwap of the session was at 15777 with volumes of 93.3 L and range of 196 points as it made a High-Low of 15990-15694
- NF confirmed a FA at 15659 on 02/07 and tagged the 1 ATR target target of 15801 on 05/07. The 2 ATR objective comes to 15943. This FA is currently on ‘T+5’ Days.
- The settlement day Roll Over point (July) is 15840
- The VWAP & POC of Jun Series is 15721 & 15721 respectively.
- The VWAP & POC of May Series is 14945 & 15094 respectively.
- The VWAP & POC of Apr Series is 14576 & 14375 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 15701-15743-15807
HVNs – 15817
BankNifty Jul F: 35411 [ 35944 / 35261 ]
BNF also made a lower open but similar to NF took support at the composite POC of 35742 and gave a quick bounce leading to new highs for the week at 35944 but could not sustain above PDH (Previous Day High) as it left a small selling tail from 35900 to 35944 which set up for a One Time Frame probe to the downside till the ‘K’ period as the auction not only completed the 80% Rule in the 2-day composite Value of 35609-35742-35843 but went on to negate the entire buying singles of this week (5th Jul) from 35523 to 35274 after leaving an extension handle at 35536 as it made a low of 35261 before giving a bounce to 35460 into the close leaving a Trend Day Down profile. The dPOC shifted lower to 35426 and would be the immediate reference for the next open along with today’s VWAP of 35602 for the coming session(s) and staying below them BNF would remain weak.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Auction (OA)
- The Day type was a Trend Day – Down (TD)
- Largest volume was traded at 35426 F
- Vwap of the session was at 35602 with volumes of 40.3 L and range of 683 points as it made a High-Low of 35944-35261
- The settlement day Roll Over point (July) is 35000
- The VWAP & POC of Jun Series is 35012 & 35070 respectively.
- The VWAP & POC of May Series is 33568 & 34828 respectively.
- The VWAP & POC of Apr Series is 33260 & 32490 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 35264-35426-35752
HVNs – 34902 / 35276 / 35742
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