Nifty Jan F: 17918 [ 18020 / 17820 ]
NF opened with a probe above previous Value but was rejected right at the PBH of 18018 as it not only left an initiative selling tail from 18020 to 17989 but also an early extension handle at 17943 in the IB (Initial Balance) itself indicating entry of fresh supply and multiple REs (Range Extension) lower.
The auction made new lows of the series at 17820 and gave a bounce back leaving similar highs at 17928 in the closing 3 TPOs as it built the highest volumes of the day at 17917 giving a close right there leaving a ‘b’ shape profile with completely lower Value.
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 Normal Variation Day – Down ( ‘b’ shape profile)
- Largest volume was traded at 17917 F
- Vwap of the session was at 17908 with volumes of 87.7 L and range of 200 points as it made a High-Low of 18020-17820
- The settlement day Roll Over point (Jan 2023) is 18299
- The VWAP & POC of Dec 2022 Series is 18337 & 18584 respectively.
- The VWAP & POC of Nov 2022 Series is 18295 & 18335 respectively.
- The VWAP & POC of Oct 2022 Series is 17350 & 17260 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 17856-17917-17928
HVNs – 18108** / 18181
(** indicates series POC)
NF Weekly Settlement Profile (06th to 12th Jan 2023)
17918 [ 18228 / 17820 ]
- Friday – NF opened the week with a Double Distribution Trend Day down on Friday where it got rejected from entry into previous week’s VAL of 18126 & hit new lows of the series at 17872 but saw the dPOC shifting lower to 17922 indicating profit booking by the shorts
- Monday – The auction trapped the late sellers from previous session by first opening higher and then leaving an initiative buying tail as it went on to scale above the weekly NeuX VWAP of 18193 but stalled right at the 04th Jan Selling Singles from 18227 to 18303 leaving a ‘p’ shape short covering profile for the day with a close around the dPOC of 18178
- Tuesday – began with an Open Drive to the downside from 18178 and an A period selling tail till 18105 triggering a trending move lower of 253 points stopping just above Friday’s VPOC of 17922 as it left similar lows at 17925 leaving a ‘b’ shape profile for the day & a close at the dPOC of 17988
- Wednesday – NF repaired previous session’s poor lows by tagging 17890 at the open but confirmed an Open Rejection Reverse to the upside as it completed the 80% Rule in previous value forming a relatively big IB range of 152 points after which it made the dreaded C side extension to 18065 which marked the end of the upside resulting in an ideal balance for the day & a 3-1-3 profile with mostly overlapping Value
- Thursday – signalled a move away from this 2-day balance with an extension handle at 17943 as the auction went on to record new lows of the series at 17820 and left yet another ‘b’ shape profile on the daily with completely lower value & as it did all week closed right at the dPOC of 17917
The weekly profile is a Neutral one representing a composite ‘b’ shape and has a nice balanced Value area completely lower at 17883-17982-18072 with a prominent POC which will be the reference on the upside for the coming settlement week with the PLR (Path of Least Resistance) remaining to the downside.
Click here to view this week’s daily profiles in NF on MPLite
Business Areas for 13th Jan 2023:
Up
17943 – Extension Handle (12 Jan)
17989 – Selling Tail (12 Jan)
18030 – 2-day comp VAH
18064 – LVN from 10 Jan
18105 – Selling Tail (10 Jan0
18141 – IB singles mid
Down
17917 – dPOC from 12 Jan
17880 – TPO HVN (12 Jan)
17852 – LVN from 12 Jan
17808 – Monthly ATR
17746 – Monthly 3 IB
17714 – 1 ATR from yPOC
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Jan F: 42213 [ 42500/ 41910 ]
BNF made a probe above PDH at open but could only manage to tag 42500 getting rejected yet again from the 10th Jan’s Selling Singles of 42488 to 42774 and went on to complete the 80% Rule in previous Value in the IB and made mutliple REs lower as it got accepted in the A period buying tail of 42089 to 41880 and made a low of 41910 forming a ‘b’ shape profile and almost an Outside Day in terms of the range.
On the higher timeframe, the auction is in the process of forming a nice balance with the 3-day composite showing Value at 42123-42231-42429 and could be moving away from here 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 Varation Day – Down ( ‘b’ shape profile)
- Largest volume was traded at 42095 F
- Vwap of the session was at 42170 with volumes of 36.9 L and range of 591 points as it made a High-Low of 42500-41910
- The settlement day Roll Over point (Jan 2023) is 43420
- The VWAP & POC of Dec 2022 Series is 43030 & 43128 respectively.
- The VWAP & POC of Nov 2022 Series is 42150 & 42959 respectively.
- The VWAP & POC of Oct 2022 Series is 39750 & 38950 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 42035-42095-42271
HVNs – 42216** / 43270 / 43391
(** indicates series POC)
BNF Weekly Settlement Profile (06th to 12th Jan 2023)
42213 [ 43908 / 41880 ]
BNF played musical chairs this week with alternating ‘b’ shape & ‘p’ shape profiles for the 5 days forming a Neutral Set Up and a nice balance with a close near the prominent POC of 42222 forming completely lower Value at 42078-42222-42492 and a probable weekly FA at 42908 provided it manages to stay below 42076 in the coming settlement week. Series wise, the auction has left an extension handle at 43002 which is now the immediate swing reference as the Jan profile is resembling a DD (Double Distribution) for now with the series POC shifting lower to 42216 from where it could give a fresh move away in the coming session(s).
Click here to view this week’s daily profiles in BNF on MPLite
Business Areas for 13th Jan 2023:
Up
42222 – Weekly POC
42315 – B TPO VWAP (12 Jan)
42440 – Selling Tail (12 Jan)
42515 – A TPO POC (10 Jan0
42631 – IB Singles Mid (10 Jan)
42725 – dPOC from 09 Jan
42840 – Weekly IBH
Down
42210 – HVN from 12 Jan
42095 – dPOC from 12 Jan
41940 – Buying tail (12 Jan)
41869 – 26th Dec Swing Low
41689 – Weekly ATR from 42908
41586 – Monthly 3 IB
(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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