Nifty Sep F: 17364 [ 17374 / 17301 ]
As expected, NF made an OAIR (Open Auction In Range) start and began filling up the low volume zone between 17330 to 17375 as it made a very narrow IB (Initial Balance) of just 47 points and failed in it’s first attempt to extend the range to the upside in the C & D periods as it could only make marginal new highs of 17363 & 17364 which led to a liquidation break resulting in a RE (Range Extension) lower in the ‘G’ & ‘H’ TPOs but once again could only form similar lows of 17303 & 17301 indicating absence of OTF (Other Time Frame) players and this locals fight against each other resulted in a small short covering rally into the close as the auction went on to make a fresh RE to the upside confirming a FA (Failed Auction) at lows and leaving a Neutral Extreme Day. Value as well as the Range was completely inside previous day and as a result we now have a nice 4-day composite in NF at 17313-17366-17398 with a close right at the prominent POC which means there is a very good chance of a move away from this balance in the coming session(s).
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 Neutral Extreme Day – Up (NeuX)
- Largest volume was traded at 17368 F
- Vwap of the session was at 17339 with volumes of 47.2 L and range of 73 points as it made a High-Low of 17374-17301
- NF confirmed a fresh FA at 17301 on 09/09 and the 1 ATR objective comes to 17445.
- The settlement day Roll Over point (September) is 16642
- The VWAP & POC of Aug Series is 16455 & 16255 respectively.
- The VWAP & POC of Jul Series is 15778 & 15820 respectively.
- The VWAP & POC of Jun Series is 15721 & 15721 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 17327-17368-17372
HVNs – 16710 / 17126 / 17316 / 17366 / 17402
Business Areas for 13th Sep:
Up
17366 – 4-day composite POC
17398 – 4-day composite VAH
17445 – 1 ATR from FA of 17301
17510 – 1 ATR from 17366
Down
17339 – VWAP from 09th Sep
17287 – Buying Singles from 08th Sep
17253 – VAL (Value Area Low) from 03rd Sep
17211 – Singles from 03rd Sep
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Sep F: 36772 [ 36963 / 36651 ]
BNF completed the test of the 4-day composite VAH of 36963 at open which it had narrowly missed the previous day but this look up above PDH (Previous Day High) was swiftly rejected as it left a selling tail in the IB (Initial Balance) and completed the 80% Rule in the 4-day Value of 36709-36847-36963 to the ‘T’ while making a low of 36711 in the ‘B’ period. The auction then made the dreaded C side extension lower which stalled the down move but the bounce it gave made similar highs in the zone of 36848 to 36854 in the C, D & F periods indicating that the morning sellers were still present and this led to a ‘b’ shape profile for the day as BNF made marginal new lows of 36667 & 36651 in the G & K periods and could not get into yesterday’s buying singles of 36628 to 36502 giving a bounce back to close near the dPOC of 36797 forming a Normal Day with mostly inside Value. The auction will need to negate one of the tails by getting initiative volumes either above 36854 or below 36628 for a move away from this balance it has been forming in 6 of the last 7 sessions.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Auction In Range (OAIR)
- The Day type was a Normal Day (‘b’ shape profile)
- Largest volume was traded at 36797 F
- Vwap of the session was at 36773 with volumes of 23.7 L and range of 312 points as it made a High-Low of 36963-36651
- BNF confirmed a FA at 36251 on 07/09 and tagged the 1 ATR objective of 36731 on the same day. The 2 ATR target comes to 37210.
- The settlement day Roll Over point (September) is 35699
- The VWAP & POC of Aug Series is 35715 & 35616 respectively.
- The VWAP & POC of Jul Series is 35105 & 34804 respectively.
- The VWAP & POC of Jun Series is 35012 & 35070 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 36708-36797-36816
HVNs – 35840 / 36749
Business Areas for 13th Sep:
Up
36854 – Selling singles from 09th Sep
36969 – Developing Monthly VAH
37106 – SOC (Scene Of Crime) from 03rd Sep
37210 – 2 ATR objective from FA of 36251
Down
36708 – VAL from 09th Sep
36628 – Singles from 08th Sep
36451 – VAL from 07th Sep
36251 – FA from 07th Sep
(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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