Nifty Jul F: 15712 [ 15812 / 15657 ]
NF opened higher right at 8th July’s Trend Day VWAP of 15777 but settled down into an OAOR (Open Auction Out of Range) as it formed a very narrow IB (Initial Balance) range of just 37 points and made a C side extension higher hitting new highs for the day at 15812 but stalled right at the lower extension handle of 8th July indicating that the sellers were defending this zone. The auction then formed a balance getting back to the day’s VWAP in the ‘G’ period but what followed was typical of an OAOR which is known to give a big move in the afternoon which is exactly what happened in the ‘H’ period as NF not only left an extension handle at 15760 but went on to drop by more than 100 points while making a low of 15657 in the ‘I’ period after which it settled down to form a balance in the lower part of the day’s profile with a close right at the dPOC of 15712 leaving a Neutral Centre Day which was also a Double Distribution (DD) Trend Day Down. This DD has come inside a composite which means there is a high chance of the DD singles of 15739 to 15760 being tested in the coming session before the auction gives a fresh move away from here.
- The NF Open was a Open Auction Out of Range (OAOR)
- The Day type was a Neutral Centre Day plus DD (Double Distribution) Trend Day – Down (NeuC + DD)
- Largest volume was traded at 15712 F
- Vwap of the session was at 15741 with volumes of 65.8 L and range of 154 points as it made a High-Low of 15812-15657
- The settlement day Roll Over point (July) is 15840
- The VWAP & POC of Jun Series is 15721 & 15721 respectively.
- The VWAP & POC of May Series is 14945 & 15094 respectively.
- The VWAP & POC of Apr Series is 14576 & 14375 respectively.
- Value zones (volume profile) are at 15662-15712-15781
HVNs – 15720 / 15817
BankNifty Jul F: 35311 [ 35569 / 35152 ]
BNF also opened higher and not only tagged the 8th July VPOC of 35426 but even scaled above the extension handle of 35536 as it made a high of 35569 in the opening minutes stalling just below the Trend Day VWAP of 35602 which meant that the sellers were still defending their territory and this got more confirmation as the auction confirmed a small tail at top in the IB and similar to NF, gave a fresh RE (Range Extension) lower in the ‘H’ period which triggered the 80% Rule in previous Value as it made a low of 35152 before closing the day near the dPOC of 35326 leaving a DD (Double Distribution) profile with the higher HVN at 35460.
- The BNF Open was a Open Auction Out of Range (OAOR)
- The Day type was a Double Distribution Trend Day – Down (DD)
- Largest volume was traded at 35326 F
- Vwap of the session was at 35378 with volumes of 30.7 L and range of 417 points as it made a High-Low of 35569-35152
- The settlement day Roll Over point (July) is 35000
- The VWAP & POC of Jun Series is 35012 & 35070 respectively.
- The VWAP & POC of May Series is 33568 & 34828 respectively.
- The VWAP & POC of Apr Series is 33260 & 32490 respectively.
- Value zones (volume profile) are at 35160-35326-35460
HVNs – 34902 / 35276 / 35742
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