Nifty May F: 16299 [ 16418 / 16153 ]
NF opened with another gap down of 164 points as it tagged the 1 ATR objective of 16249 from last Friday’s FA of 16495 and continued to probe lower in the A period breaking below the 09th Mar HVN of 16210 and testing the PBL of 16175 from 08th Mar where it took support which was seen in the small buying tail it left in the IB (Initial Balance) from 16191 to 16153.
The auction then began to coil till the D period building volumes at 16235 before giving a move away to the upside from the E TPO onwards as it made multiple REs (Range Extension) till the H period where it made a high of 16418 almost closing the gap down and triggering the 80% rule in previous Value but could not get sustain above the yVWAP of 16416 which led to a long liquidation break over the next 2 periods as NF left a PBL at 16211 before settling down to close around the dPOC of 16308 leaving a Normal Variation Day with completely lower Value.
Click here to view the latest profile in NF on MPLite
- The NF Open was an Open Auction Out of Range (OAOR)
- The Day type was a Normal Variation Day – Up (NV)
- Largest volume was traded at 16308 F
- Vwap of the session was at 16280 with volumes of 131.5 L and range of 265 points as it made a High-Low of 16418-16153
- NF confirmed a FA at 16495 on 06/05 and tagged the 1 ATR objective of 16249 on 09/05. The 2 ATR target comes to 16004.
- NF confirmed a FA at 16980 on 05/05 and tagged the 2 ATR objective of 16513 on 06/05.
- The settlement day Roll Over point (May 2022) is 17265
- The VWAP & POC of Apr 2022 Series is 17430 & 17145 respectively.
- The VWAP & POC of Mar 2022 Series is 16753 & 17255 respectively.
- The VWAP & POC of Feb 2022 Series is 17183 & 17409 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 16233-16308-16369
HVNs – 16429** / 16984 / 17076
(** indicates series POC)
Business Areas for 10th May 2022:
Up
16308 – dPOC from 09th May
16347 – Previous Week Low
16398 – PBH from 09th May
16433 – dPOC from 06th May
16495 – FA from 06th May
16573 – Gap Mid-point
16643 – Daily Extension Handle
Down
16280 – VWAP from 09th May
16235 – HVN from 09th May
16191 – Buying Singles (09th May)
16153 – Weekly IBL
16118 – Daily Extension Handle
16062 – Extension Handle (08th Mar)
16004 – 2 ATR from FA of 16495
15966 – NeuX VWAP (08th Mar)
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty May F: 34318 [ 34582 / 33957 ]
BNF also opened with a big 427 gap down and similar to NF continued to probe lower in the A period as it completed the 1 ATR objective of 34153 from the FA of 34834 and broke below the higher of the 2 extension handles of 34015 from 09th Mar while making a low of 33957 taking support just above the lower one of 33920.
The auction then confirmed an initiative buying tail in the IB from 34017 to 33957 and remained in the IB forming a balance till the D period after which it gave multiple REs to the upside from the E to the H TPOs as it not only closed the gap but went on to almost tag the 2 IB objective of 34583 while making a high of 34582 stalling just below yVWAP of 34595 indicating return of supply here.
BNF then reversed the probe to the downside till the J period where it broke below VWAP and left a PBL of 34113 and making another rotation higher to 34555 before closing around the dPOC of 34334 leaving a Normal Variation Day Up.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was an Open Auction Out of Range (OAOR)
- The Day type was a Normal Variation Day – Up (NV)
- Largest volume was traded at 34334 F
- Vwap of the session was at 34264 with volumes of 50.7 L and range of 625 points as it made a High-Low of 34582-33957
- BNF confirmed a FA at 34834 on 06/05 and tagged the 1 ATR objective of 34153 on 09/05. The 2 ATR target comes to 33472.
- The settlement day Roll Over point (May 2022) is 36515
- The VWAP & POC of Apr 2022 Series is 37090 & 36386 respectively.
- The VWAP & POC of Mar 2022 Series is 34992 & 35648 respectively.
- The VWAP & POC of Feb 2022 Series is 37712 & 37712 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 34131-34334-34470
HVNs – 34650 / 35931** / 36120
(** indicates series POC)
Business Areas for 10th May 2022:
Up
34334 – dPOC from 09th May
34555 – PBH from 09th May
34645 – VPOC from 06th May
34814 – Selling singles (06th May)
35032 – Singles mid-point
35162 – Weekly mid-profile singles
35290 – HVN from 05th May
Down
34264 – VWAP from 09th May
34113 – PBL from 09th May
33920 – Extension Handle (09th Mar)
33658 – PBL from 09th Mar
33545 – VWAP from 09th Mar
33472 – 2 ATR from FA of 34834
33332 – Weekly 2 IB target
(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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