Nifty Jun F: 15660 [ 15815 / 15594 ]
NF opened around the composite VAH of 15788 and swiped lower through previous Value taking support right at VAL of 15735 from where it not only gave a quick bounce completing the 80% Rule but went on to make multiple REs (Range Extension) higher in the ‘E’ & ‘G’ periods hitting new marginal new highs for the series at 15815 but could not find fresh demand as it left a small tail at top and the first break of the day’s VWAP in the ‘H’ period led to a huge liquidation move as the auction not only left a selling extension handle at 15735 confirming a FA at top but went on to complete the 3 IB objective of the day of 15602 as it made a low of 15594 stopping the fall just above the buying extension handle of 15588 from 2nd June and gave a bounce back to 15675 into the close forming an outside bar and a Neutral Day. The dPOC shifted lower to 15666 which will be the immediate reference for the next open along with the selling tail of 15715 to 15735 on the upside whereas the lower levels on watch would be 15588 and the VPOC of 15548 along with the FA of 15502.
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- The NF Open was a Open Auction In Range (OAIR)
- The Day type was a Neutral Day (NeuD)
- Largest volume was traded at 15666 F
- Vwap of the session was at 15703 with volumes of 99.2 L and range of 221 points as it made a High-Low of 15815-15594
- NF confirmed a FA at 15814 on 09/06 and tagged the 1 ATR target of 15688 on the same day. The 2 ATR objective from the FA is at 15561.
- NF confirmed a FA at 15502 on 02/06 and tagged the 2 ATR target of 15793 on 07/06. This FA is currently on ‘T+6’ Days.
- The settlement day Roll Over point (June) is 15396
- The VWAP & POC of May Series is 14945 & 15094 respectively.
- The VWAP & POC of Apr Series is 14576 & 14375 respectively.
- The VWAP & POC of Mar Series is 14816 & 14737 respectively.
You can check the monthly charts & other swing levels for Nifty & NF here & for the weekly charts & analysis, please click here.
- Value zones (volume profile) are at 15594-15666-15748
HVNs – 15277 / 15458 / 15578 / 15674*
BankNifty Jun F: 34929 [ 35548 / 34758 ]
BNF made a move to the downside from the yPOC of 35253 at open as it went on to make new lows for the series at 35062 but was swiftly rejected confirming an ORR (Open Rejection Reverse) to the upside as it led to a big move of 485 points in the IB (Initial Balance) with the auction leaving a long buying tail from 35412 to 35062 and a high of 35547. The strong open however could not result in a RE (Range Extension) higher and the auction began to form a balance in a narrow range staying above the day’s VWAP shaping a ‘p’ shape profile for the day but the break of VWAP in the ‘H’ period completely changed the character of the auction as it not only negated the entire buying tail of morning but went on to tag the weekly VPOC of 34990 & the HVN of 34815 and made a low of 34758 in the ‘I’ period stopping right at the POC of 21st May after which BNF gave a bounce to 35171 before closing right at the dPOC of 34930 which will be the important reference for the next open.
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- The BNF Open was a Open Rejection Reverse – Up (ORR)
- The Day type was a Normal Variation Day – Down (NV)
- Largest volume was traded at 34930 F
- Vwap of the session was at 35179 with volumes of 48.4 L and range of 790 points as it made a High-Low of 35548-34758
- The settlement day Roll Over point (June) is 35380
- The VWAP & POC of May Series is 33568 & 34828 respectively.
- The VWAP & POC of Apr Series is 33260 & 32490 respectively.
- The VWAP & POC of Mar Series is 34618 & 33870 respectively.
For the Monthly charts & other swing levels for BankNifty & BNF click here & for the weekly charts & analysis, please click here.
- Value zones (volume profile) are at 34760-34930-35396
HVNs – 34778 / 35429* / 35616
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