Nifty Jul F: 16203 [ 16253 / 16106 ]
NF opened below PDL (Previous Day Low) and got rejected from the first attempt it made to enter Fridays range after it made a high of 16165 triggering a probe lower in the A period where it tagged 07th Jul’s VPOC of 16112 while making a low of 16106 forming yet another very narrow IB (Initial Balance) range of just 59 points.
The auction remained in this range for most part of the day before giving a RE to the upside in the I period as it left an extension handle at 16165 & activated the 80% Rule in Friday’s Gaussian Profile which it completed in the K TPO and made a brief look up above the highs of 16250 but could only manage 16253 and confirmed a small tail at top and implemented the reverse 80% Rule into the close making a low of 16178 leaving a Normal Variation Day Up but Value formed was completely lower.
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 (Outside Bar)
- Largest volume was traded at 16138 F
- Vwap of the session was at 16166 with volumes of 103.6 L and range of 147 points as it made a High-Low of 16253-16106
- NF confirmed a FA at 16042 on 07/07 and the 1 ATR objective comes to 16269.
- NF confirmed a poor low FA at 15781 on 05/07 and tagged the 1 ATR objective of 15999 on the same day. The 2 ATR target comes to 16217.
- NF confirmed a FA at 15651 on 04/07 and tagged the 2 ATR objective of 16092 on 07/07. This FA has not been tagged and is now a positional reference.
- NF confirmed a FA at 15514 on 01/07 and tagged the 2 ATR objective of 15935 on 05/07. This FA has not been tagged and is now a positional reference.
- The settlement day Roll Over point (Jul 2022) is 15720
- The VWAP & POC of Jun 2022 Series is 15895 & 15793 respectively.
- The VWAP & POC of May 2022 Series is 16270 & 16340 respectively.
- The VWAP & POC of Apr 2022 Series is 17430 & 17145 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 16112-16138-16185
HVNs – 15670 / 15838 / 16138**
(** indicates series POC)
Business Areas for 12th Jul 2022:
Up
16220 – HVN from 11th Jul
16272 – Weekly VPOC
16325 – Selling Singles (10th Jun)
16398 – Selling Tail Top
16439 – Extension Handle (09th Jun)
16465 – Mid-profile singles (09th Jun)
16508 – VPOC from 09th Jun
Down
16200 – LVN from 11th Jul
16165 – Extension Handle (11th Jul)
16110 – PBL from 11th Jul
16042 – FA from 07th Jul
16008 – 2-day Composite VAH
15968 – 2-day Composite VPOC
15908 – VWAP from 06th Jul
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Jul F: 35488 [ 35599 / 35050 ]
BNF also opened lower testing the buying singles of previous profile but acted completely opposite when compared to NF as it was swiftly rejected swiping through the 3-1-3 Value as well as Range as it confirmed an Open Test Drive and went on to hit new highs for this series at 35399 in the IB.
The auction then gave a small pull back forming similar lows of 35259 in the E & F periods taking support right above the upper singles of Friday indicating that the PLR was still to the upside after which it went on to make multiple REs in the I, J & K TPOs leaving an extension handle at 35414 & making a high of 35599 & saw a HVN forming at 35566 which meant that the longs were booking out & this triggered a retracement back to 35419 into the close.
The day’s profile resembles a DD (Double Distribution) Trend Day Up with an initiative tail from 35259 to 35050 and the first distribution consisting of the HVN at 35325 from where it gave a late move away to the upside leaving an extension handle at 35414 and forming another small distribution higher with the HVN at 35566.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was an Open Test Drive – Up (OTD)
- The Day type was a Double Distribution Trend Day – Up (DD)
- Largest volume was traded at 35365 F
- Vwap of the session was at 35397 with volumes of 34.6 L and range of 549 points as it made a High-Low of 35599-35050
- The settlement day Roll Over point (Jul 2022) is 33380
- The VWAP & POC of Jun 2022 Series is 33969 & 33498 respectively.
- The VWAP & POC of May 2022 Series is 34570 & 34477 respectively.
- The VWAP & POC of Apr 2022 Series is 37090 & 36386 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 35222-35365-35498
HVNs – 33179 / 33833 / 34307** / 35154
(** indicates series POC)
Business Areas for 12th Jul 2022:
Up
35566 – HVN from 11th Jul
35668 – Monthly 2 IB target
35768 – 3 IB Weekly objective
35900 – VPOC from 03rd Jun
36044 – NeuX VWAP from 30th May
36189 – FA from 30th May
Down
35487 – Closing HVN (11th Jul)
35325 – HVN from 11th Jul
35155 – dPOC from 08th Jul
35016 – Weekly FA
34920 – Closing HVN (07th Jul)
34747 – VPOC from 07th Jul
(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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