Nifty May F: 16247 [ 16410 / 16209 ]
NF made an OAIR (Open Auction In Range) start and remained in previous Value for the first half of the day before making multiple REs (Range Extension) to the upside in the F / G & H periods but could only manage similar highs of 16401 / 16409 & 16410 indicating this supply zone still attracting sellers which led to a big liquidation move into the close as the auction made new lows for the day at 17209 leaving a Neutral Extreme Day (NeuX) with both range & value being inside yesterday.
We now have a 2-day balance in NF with the composite Value at 16231-16327-16345 and could give a move away from here in the coming session(s) with an Open Drive from around the dPOC of 16325. (Click here to view the 2-day composite chart on MPLite)
Click here to view the latest profile in NF on MPLite
- The NF Open was an Open Auction In Range (OAIR)
- The Day type was a Neutral Extreme Day – Down (NeuX)
- Largest volume was traded at 16328 F
- Vwap of the session was at 16315 with volumes of 133.9 L and range of 201 points as it made a High-Low of 16410-16209
- 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 16236-16328-16354
HVNs – 16321** / 16429 / 16984 / 17076
(** indicates series POC)
Business Areas for 11th May 2022:
Up
16250 – NeuX zone high
16302 – SOC from 10th May
16345 – 2-day Composite VAH
16388 – PBH from 10th May
16433 – dPOC from 06th May
16495 – FA from 06th May
16573 – Gap Mid-point
Down
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)
15924 – HVN from 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: 34516 [ 34817 / 34218 ]
BNF opened lower but was swiftly rejected from yVWAP of 34264 as it left an initiative buying tail in the IB from 34299 to 34218 and formed a narrow range balance for the first couple of hours after which it left an extension handle at 34495 in the F period starting a new imbalance to the upside as it not only made new highs for the week but went on to tag the VPOC of 34645 from 06th May but also completed the 2 IB objective of 34743 in the H TPO.
The auction then gave a pull back to 34558 in the I period before making another couple of REs higher in the J & K TPOs where it hit the selling singles from 06th May and got rejected indicating return of supply and this triggered a long liquidation drop into the close with BNF negating the extension handle of 34495 & leaving a closing PBL at 34450 before closing the day just above the IBH at 34516 leaving a second successive Normal Variation Day with overlapping to higher Value.
BNF also is forming a nice balance over the last 3 days & the composite Value comes to 34353-34641-34722 so can expect a strong opening move away from this balance in the coming session(s). (Click here to view the 3-day composite on MPLite).
Click here to view the latest profile in BNF on MPLite
- The BNF Open was an Open Auction In Range (OAIR)
- The Day type was a Normal Variation Day – Up (NV)
- Largest volume was traded at 34327 F
- Vwap of the session was at 34551 with volumes of 46 L and range of 599 points as it made a High-Low of 34817-34218
- 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 34385-34627-34684
HVNs – 34629** / 35931 / 36120
(** indicates series POC)
Business Areas for 11th May 2022:
Up
34582 – Weekly IBH
34692 – SOC from 10th May
34833 – FA from 06th May
35032 – Singles mid-point
35162 – Weekly mid-profile singles
35290 – HVN from 05th May
35460 – Extension Handle (05th May)
35568 – Extension Handle (05th May)
Down
34450 – Closing PBL (10th May)
34299 – Buying Singles (10th May)
34113 – PBL from 09th May
33957 – Weekly IBL
33786 – LVN from 09th Mar
33657 – PBL from 09th Mar
33545 – VWAP from 09th Mar
33472 – 2 ATR from FA of 34834
(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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