Nifty Aug F: 16277 [ 16359 / 16209 ]
NF made the 4th consecutive OAIR (Open Auction In Range) start but remained above the 2-day composite POC of 16266 and probed higher in the IB (Initial Balance) as it got above the composite Value with the help of an initiative buying tail from 16294 to 16255 and made new highs for the week at 16319. The auction then had a silent C period which meant that there were no fake moves coming and made a good RE to the upside in the ‘D’ period leaving an extension handle at 16319 as it went on to hit new highs for the series at 16359 but could not extend any further and began to form a micro-balance above the IBH once again building volumes at the previous HVN of 16331. The lack of demand at these new highs then gave the confidence to the sellers to strike which they did in a big manner in the ‘J’ period as they not only negated the extension handle of 16319 but also went on to complete the 80% Rule in the 2-day composite Value of 16304 to 16235 and almost tagged the responsive buying tail of 16203 to 16182 from yesterday while making a marginal new low of 16209 in the ‘K’ period. NF finding buyers then led to a bounce back to the day’s VWAP of 16294 into the close leaving a Neutral Centre Day with the dPOC shifting lower to 16272 and the failure to move away from the balance has resulted in a 5-day composite with Value at 16234-16260-16309.
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 Centre Day (NeuC)
- Largest volume was traded at 16272 F
- Vwap of the session was at 16294 with volumes of 63.6 L and range of 150 points as it made a High-Low of 16359-16209
- The settlement day Roll Over point (August) is 15805
- The VWAP & POC of Jul Series is 15778 & 15820 respectively.
- The VWAP & POC of Jun Series is 15721 & 15721 respectively.
- The VWAP & POC of May Series is 14945 & 15094 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 16225-16272-16324
Business Areas for 11th Aug:
Up
16294 – Neutral Centre VWAP of 10th Aug
16331 – HVN from 10th Aug
16397 – 1.5 weekly objective
Down
16260 – 5-day Composite POC
16190 – Resposive buying tail from 09th Aug
16156 – VPOC from 3rd Aug
(The are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Aug F: 36135 [ 36395 / 36012 ]
BNF opened with a Drive Up moving away from the 4-day composite after making an OL (Open=Low) start at 36040 and went on to form a large IB (Initial Balance) of 355 points where it not only hit new highs of 36395 for the series but also left a long buying tail from 36238 to 36040. The auction however failed to extend any higher and began to coil in a narrow range as it made similar highs of 36367, 36365 & 36360 in the C, D & F periods bulding volumes at 36340 forming a ‘p’ shape profile for the day when it started the H period with a swipe lower but got stopped at 36245 holding right above the morning singles and gave a bounce to probe above the similar highs of the 3 TPOs mentioned above but could only tag 36373 as it still failed to find new demand and returned back to the coiling forming the day’s narrowest TPO range of just 45 points in the ‘I’ period. With the buyers not showing up, the sellers then decided to take control in the ‘J’ period as they broke below 36245 & then entered back into the 4-day composite negating the morning singles completely while making new lows for the day at 36017 and even succeded in making a lower low in the ‘K’ period but could only manage 36012 before getting pushed back into the IB triggering a bounce back to 36159 into the close and in the process got the dPOC lower to 36136 leaving yet another Normal Day. Today’s Scene Of Crime (SOC) at 36245 would be the reference on the upside in the coming session along with the HVN at 36340 where as staying below today’s POC of 36136, BNF could move lower to test the composite POC of 35935 & the buying extension handle of 35748.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Drive – Up (OD) on lower volumes
- The Day type was a Normal Day
- Largest volume was traded at 36136 F
- Vwap of the session was at 36226 with volumes of 35.1 L and range of 383 points as it made a High-Low of 36395-36012
- The settlement day Roll Over point (August) is 34860
- The VWAP & POC of Jul Series is 35105 & 34804 respectively.
- The VWAP & POC of Jun Series is 35012 & 35070 respectively.
- The VWAP & POC of May Series is 33568 & 34828 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 36046-36136-36305
Business Areas for 11th Aug:
Up
36245 – SOC (Scene Of Crime) from 10th Aug
36340 – HVN from 10th Aug
36515 – Weekly 1.5 IB objective
36752 – Weekly 2 IB objective
Down
36099 – Developing series POC
35935 – 4-day composite POC
35748 – Extension Handle from 04th Aug
35544 – Buying transition from 04th Aug
(The 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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