Nifty Jun F: 15817 [ 15856 / 15760 ]
NF opened higher negating the FA of 15815 but then settled down into an OAOR (Open Auction Out of Range) staying in a narrow range of 54 points after making new highs for the week at 15845 in the IB (Initial Balance). The auction then made an attempt to extend the range to the upside in the ‘D’ period but got swiftly rejected resulting in an immediate break of VWAP in the ‘E’ period followed by an extension lower in the ‘F’ period confirming yet another daily FA at new highs of 15856 as NF made a low of 15760 stopping just above previous day’s range and giving a bounce back to 15831 as it confirmed a Neutral Centre Day with a close at the day’s prominent POC of 15820 which will be the immediate reference for the next open. Value for the day was completely higher but the auction would need to negate the FA of 15856 to continue the probe higher.
- The NF Open was a Open Auction Out of Range (OAOR)
- The Day type was a Neutral Centre Day (NeuC)
- Largest volume was traded at 15820 F
- Vwap of the session was at 15815 with volumes of 62.6 L and range of 96 points as it made a High-Low of 15856-15760
- NF confirmed a FA at 15856 on 11/06 and the 1 ATR objective comes to 15727.
- NF confirmed a FA at 15814 on 09/06 and tagged the 1 ATR target of 15688 on the same day. This FA was tagged on 11/06 and is no longer a valid reference.
- NF confirmed a FA at 15502 on 02/06 and tagged the 2 ATR target of 15793 on 07/06. This FA has not been tagged and is now positional support..
- The settlement day Roll Over point (June) is 15396
- The VWAP & POC of May Series is 14945 & 15094 respectively.
- The VWAP & POC of Apr Series is 14576 & 14375 respectively.
- The VWAP & POC of Mar Series is 14816 & 14737 respectively.
- Value zones (volume profile) are at 15803-15820-15837
HVNs – 15277 / 15458 / 15578 / 15686* / 15744
BankNifty Jun F: 35169 [ 35475 / 34978 ]
BNF continued previous days’ imbalance with a gap up as it revisited Wednesday’s SOC (Scene of Crime) of 35460 but got rejected leaving an initiative selling tail in the IB (Initial Balance) and gave a trending move lower for the first half of the day and in the process left an extension handle at 35275 as it negated the previous day’s buying extension handle of 35068 and made a low of 34977 which signalled the end of the downside probe after which the auction gave a bounce back to 35259 before closing the day at the prominent dPOC of 35164 with Value being completely inside the last 2 days. The PLR for the coming session(s) would be to the downside till the extension handle of 35275 does not get negated with 35065 & 34980 being the lower levels to watch for demand.
- The BNF Open was a Open Auction Out of Range (OAOR)
- The Day type was a Normal Variation Day – Down (NV)
- Largest volume was traded at 35164 F
- Vwap of the session was at 35205 with volumes of 26 L and range of 497 points as it made a High-Low of 35475-34978
- The settlement day Roll Over point (June) is 35380
- The VWAP & POC of May Series is 33568 & 34828 respectively.
- The VWAP & POC of Apr Series is 33260 & 32490 respectively.
- The VWAP & POC of Mar Series is 34618 & 33870 respectively.
- Value zones (volume profile) are at 34978-35164-35261
HVNs – 34778 / 35472* / 35616
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