Nifty Jul F: 15722 [ 15755 / 15641 ]
NF continued previous day’s imbalance at open as it not only made new lows for this week but went on to re-visit the FA and last week’s low of 15659 in the opening minutes as it made a low of 15641 but formed a narrow IB (Initial Balance) range of just 59 points which indicated that the sellers were booking out. The auction then made a big C-side extension almost doubling the day’s range hitting 15755 but saw the return of supply triggering a probe back first into the IB and then to the day’s VWAP in the ‘E’ period but left a PBL (Pull Back Low) at 15675 confirming that the imbalance was now giving way to a balance with NF coiling for the rest of the day building volumes at 15723 and closing right there and would be the immediate level to watch out for at the next open along with the PBL of 15675. The upside references remain the same which are the Trend Day VWAP of 15777 & extension handle of 15845.
- The NF Open was a Open Auction (OA)
- The Day type was a Normal Variation Day – Up (NV)
- Largest volume was traded at 15723 F
- Vwap of the session was at 15701 with volumes of 68.4 L and range of 114 points as it made a High-Low of 15755-15641
- 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 got re-visted on ‘T+5’ Days and is no longer a refernce.
- 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.
- Value zones (volume profile) are at 15678-15723-15732
HVNs – 15720 / 15817
BankNifty Jul F: 35270 [ 35372 / 34980 ]
BNF also continued previous day’s probe lower at open as it made new lows for the week at 34980 in the IB but left a small tail at lows marking the end of the imbalance as it formed a balance for the rest of the day giving a ‘p’ shape Normal profile with a prominent POC at 35242 which would be the level to watch at the next open along with the Trend Day HVNs of 35426 & 35808 with the Trend Day VWAP of 35602 in between being the important references on the upside.
- The BNF Open was a Open Auction (OA)
- The Day type was a Normal Day (‘p’ shape profile)
- Largest volume was traded at 35242 F
- Vwap of the session was at 35197 with volumes of 37.6 L and range of 392 points as it made a High-Low of 35372-34980
- 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.
- Value zones (volume profile) are at 35129-35242-35341
HVNs – 34902 / 35276 / 35742
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