Nifty Oct F: 17973 [ 18059 / 17860 ]
NF made an OAIR (Open Auction In Range) start but formed a big 68 point range in the first 5 mins indicating both buyers & sellers were trying to gain control and the auction went in the favour of buyers at the start of the B period as they left an extension handle at 17947 and gave a trending move higher till the ‘E’ period where it made new ATH of 18042 and gave the first pull back to the day’s VWAP in the ‘F’ TPO and resumed the upmove in the ‘G’ & ‘H’ periods where it made higher highs of 18048 & 18059 but the contraction of range and similar highs of 18057 in the ‘I’ period meant that there was exhaustion creeping in and this triggered a big liquidation move into the close as NF went on to make a low of 17958 before closing at the dPOC of 17973 leaving a ‘p’ shape profile for the day. Value was completely higher so the PLR (Path of Least Resistance) remains to the up till today’s initiative tail of 17930 to 17860 is held where as on the upside the auction needs to get fresh demand above today’s HVN of 18025.
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 – Up (‘p’ shape profile)
- Largest volume was traded at 17973 F
- Vwap of the session was at 17991 with volumes of 58.5 L and range of 200 points as it made a High-Low of 18059-17860
- NF confirmed a FA at 17865 on 06/10 and tagged the 1 ATR objective of 17680 on the same day. This FA got re-visited in ‘T+1’ Day and closed above it on 08/10 & NF went on to tag the 1 ATR target of 18050 to the upside from this negated FA on 11/10.
- The settlement day Roll Over point (October) is 17611
- The VWAP & POC of Sep Series is 17519 & 17365 respectively.
- The VWAP & POC of Aug Series is 16455 & 16255 respectively.
- The VWAP & POC of Jul Series is 15778 & 15820 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 17960-17973-18032
HVNs – 17700 / 17751 / 17817
Business Areas for 12th Oct:
Up
17973 – dPOC from 11th Oct
18025 – HVN from 11th Oct
18079 – Monthly 1.5 IB Objective
18112 – 1 ATR from 17930
18159 – Weekly 1.5 IB Target
Down
17930 – Buying Singles from 11th Oct
17899 – POC from 08th Oct
17860 – Weekly IBL
17816 – VPOC from 3-day composite (5th to 7th Oct)
17773 – Weekly VWAP
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Oct F: 38373 [ 38570 / 37859 ]
BNF gave an initiative move away from the last 4 days of overlapping Value and POC as it formed a big 461 point range in the IB (Initial Balance) which included buying singles from 38111 to 37859 and an extension handle at 38181 as the auction stayed above the FA zone of 38190 and went on to tag the selling singles from 28th Sep while making a high of 38320 after which it made a C side extension but could only manage similar highs of 38359 in the next 2 periods indicating exhaustion and led to a VWAP test in the ‘E’ period where it left an important PBL (Pull Back Low) at 38235. The ‘H’ period then made a fresh RE (Range Extension) to the upside and followed it up with another extension handle at 38375 in the ‘I’ period as BNF started a fresh probe higher and went on to make new highs for the series at 38569 in the ‘K’ period but saw some profit booking coming in which in turn triggered a liquidation break and a move back to the day’s VWAP into the close. Value for the day was completely higher with a close around the day’s HVN of 38355 which will be the immediate reference for the next open along with 38235 & 38111 on the downside whereas on the upside, the auction would need to get above 38411 and get fresh demand above 38539 to continue this imbalance it has started today.
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 – Up (NV)
- Largest volume was traded at 38288 F
- Vwap of the session was at 38316 with volumes of 35.7 L and range of 711 points as it made a High-Low of 38570-37859
- BNF confirmed a FA at 38190 on 06/10 and tagged the 1 ATR objective of 37581 on the same day. This FA got re-visited in ‘T+2’ Day on 08/10 and got rejected once again closing well below it. BNF finally managed to close above this FA on 11/10.
- The settlement day Roll Over point (October) is 37596
- The VWAP & POC of Sep Series is 37210 & 36633 respectively.
- The VWAP & POC of Aug Series is 35715 & 35616 respectively.
- The VWAP & POC of Jul Series is 35105 & 34804 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 38241-38288-38515
HVNs – 37622 / 37730 / 37874
Business Areas for 12th Oct:
Up
38411 – SOC (Scene Of Crime) from 11th Oct
38539 – Selling Singles from 11th Oct
38668 – 1 ATR from extension handle of 38111
38750 – Monthly 1.5 IB objective
38879 – Weekly 1.5 IB objective
Down
38355 – HVN from 11th Oct
38235 – PBL (Pull Back Low) from 11th Oct
38111 – Extension Handle from 11th Oct
37935 – POC from 08th Oct
37874 – Weekly POC
(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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