Nifty Jul F: 16044 [ 16150 / 16026 ]
NF opened lower negating the extension handle of 16165 and made a brief look down below PDL (Previous Day Low) as it made new lows for the week at 16092 but for the third consecutive day settled down into an OA (Open Auction) forming an IB (Initial Balance) of just 58 points as the auction made a high of 16150 unable to sustain above the yPOC of 16138 and left similar highs of 16147 & 16148 in the C & D periods indicating clear exhaustion on the upside.
The probe then turned lower from the E TPO onwards even resulting in couple of REs (Range Extension) in the G & H as NF made new lows of 16057 but left a small responsive buying tail triggering a short covering move till the K period where the auction made a high of 16139 once again stalling right at the yPOC signalling the return of supply which then took complete control & made a spike lower into the close leaving an extension handle at 16057 & tagging the 07th Jul FA of 16042 while making a low of 16026.
Spike Rules will be in play for the next open & the zone to watch would be 16057 t0 16026 with today’s VWAP of 16094 being the important reference on the upside along with the selling tail from 16148 to 16203 for the coming session(s).
Click here to view the latest profile in NF on MPLite
- The NF Open was an Open Auction (OA)
- The Day type was a Normal Variation Day – Down (NV with a Spike Close)
- Largest volume was traded at 16126 F
- Vwap of the session was at 16094 with volumes of 116.5 L and range of 124 points as it made a High-Low of 16150-16026
- NF confirmed a FA at 16042 on 07/07 and the 1 ATR objective comes to 16269. This FA got re-visited on 12/07 but could not close below it.
- 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 16075-16126-16136
HVNs – 15670 / 15838 / 16114**
(** indicates series POC)
Business Areas for 13th Jul 2022:
Up
16057 – Extension Handle (12th Jul)
16094 – VWAP from 12th Jul
16139 – PBH from 12th Jul
16173 – Weekly IBL
16220 – HVN from 11th Jul
16272 – Weekly VPOC
Down
16036 – Closing HVN (12th Jul)
15990 – Spike Low from 09th Jul
15952 – HVN from 09th Jul
15908 – VWAP from 06th Jul
15864 – VPOC from 06th Jul
15815 – 1 ATR from FA of 16042
(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: 35166 [ 35471 / 35093 ]
BNF also opened lower well below the closing HVN of 35487 but took support around the weekly IBH and important reference of 35300 as it made a low of 35280 and settled down into an OAIR (Open Auction In Range) forming a narrow 182 point IB range.
The auction then made 2 attempts in the E & G periods to extend lower but failed as the buying singles of 35259 to 35050 from previous session held & this led to a short covering move higher with BNF making marginal new highs of 35471 in the K period but was swiftly rejected & the subsequent break of the day’s VWAP brought in a big liquidation move into the close to 35093 thereby confirming a FA at top & forming a Neutral Extreme (NeuX) Day Down.
NeuX profiles rarely give a follow up & the zone on watch for the next open would be 35256 to 35093 with today’s NeuX VWAP of 35311 being the the major level to watch on the upside whereas on the downside, the weekly FA of 35016 would be the important level to hold.
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 Neutral Extreme Day – Down (NeuX)
- Largest volume was traded at 35425 F
- Vwap of the session was at 35311 with volumes of 32.5 L and range of 378 points as it made a High-Low of 35471-35093
- BNF confirmed a FA at 35471 on 12/07 and the 1 ATR objective comes to 34998.
- 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 35271-35425-35442
HVNs – 33179 / 33833 / 34307 / 35147**
(** indicates series POC)
Business Areas for 13th Jul 2022:
Up
35180 – Mid-profile singles (12th Jul)
35311 – NeuX VWAP from 12th Jul
35425 – dPOC from 12th Jul
35566 – HVN from 11th Jul
35768 – 3 IB Weekly objective
35945 – 1 ATR up from FA of 35471
Down
35153 – Buying Singles (12th Jul)
35016 – Weekly FA
34920 – Closing HVN (07th Jul)
34747 – VPOC from 07th Jul
34598 – Previous Week High
34400 – Monthly IBH
(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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