Nifty Aug F: 16283 [ 16325 / 16185 ]
NF opened higher and tested yesterday’s SOC (Scene Of Crime) of 16319 but got rejected yet again from below that HVN of 16331 as it made a high of 16325 and got back into the 5-day composite Value of 16234-16260-16309 completing the 80% Rule in the IB (Initial Balance) where it formed a big range of 100 points which included a selling tail from 16325 to 16292 and hit lows of 16225. This imbalance continued with a good C side extension as the auction broke below PDL (Previous Day Low) and went on to make another RE in the ‘E’ period as it hit 16185 almost tagging this week’s low it had formed on Monday where it had found good responsive buying and which seems to have come back to defend as NF not only stopped the OTF (One Time Frame) probe lower but went on retrace the entire fall with a slow probe higher for the rest of the day getting back into the composite and leaving a PBL at 16240 before stopping right at the base of the IB tail as it hit 16291 shifting the dPOC also there into the close. The balance is just getting bigger now with the 6-day composite at 16221-16263-16299 and needs initiative volumes to give a move away from here 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 Normal Variation Day – Down (NV)
- Largest volume was traded at 16287 F
- Vwap of the session was at 16250 with volumes of 72.5 L and range of 140 points as it made a High-Low of 16325-16185
- 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 16222-16287-16289
Business Areas for 12th Aug:
Up
16292 – Selling singles from 11th Aug
16331 – HVN from 10th Aug
16397 – 1.5 weekly objective
Down
16263 – 5-day Composite POC
16192 – Resposive buying tail from 11th 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: 35917 [ 36275 / 35670 ]
BNF also opened higher testing previous day’s SOC (Scene Of Crime) of 36245 but got rejected from just below the VAH as it made a trending probe lower in the IB (Initial Balance) forming a large 450 points range as it left a selling extension handle at 36054 along with singles from 36149 to 36275. The auction continued this imbalance with a C side RE as it hit new lows for the week at 35707 negating the extension handle of 35748 and continued to form lower lows for the next 2 periods as it almost tagged the 4th Aug buying singles of 35639 to 35413 while making a low of 35670. The large IB and the contracting range thereafter indicated that the selling was coming off and more confirmation of this came when the OTF (One Time Frame) move lower stopped in the ‘G’ period with even the dPOC shifting lower to 35755 and this inturn triggered a bounce back above the day’s VWAP as BNF left a PBH (Pull Back High) at 36016 in the ‘J’ period stalling just below the morning reference of 36054 and formed a balance for the rest of the day building volumes first at 35860 and then at 35930 where the auction finally closed leaving a ‘b’ shape profile for the day with completely lower value.
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 Variation Day – Down (‘b’ shape profile)
- Largest volume was traded at 35927 F
- Vwap of the session was at 35916 with volumes of 42.1 L and range of 605 points as it made a High-Low of 36275-35670
- 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 35753-35927-36013
Business Areas for 12th Aug:
Up
36054 – EH (Extension Handle) from 11th Aug
36149 – Selling singles from 11th Aug
36340 – HVN from 10th Aug
36515 – Weekly 1.5 IB objective
Down
35927 – POC from 11th Aug
35639 – Buying singles from 04th Aug
35544 – Buying transition from 04th Aug
35361 – Gap mid-point 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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