Nifty Apr F: 17519 [ 17705 / 17488 ]
NF opened above previous day’s closing HVN of 17596 and scaled above PDH as it went on to negate the daily extension handle of 17690 while making a high of 17705 in the A period but got rejected from the VAL of the 3-day composite and went on to make new lows for the day at 17595 in the B TPO leaving an initiative selling tail in the IB from 17679 to 17705 indicating that the PLR (Path of Least Resistance) was on the downside.
The auction then made a C side extension lower tagging the yPOC of 17568 and gave a small bounce to 17609 as it left a PBH there in the E period which in turn triggered a fresh RE to the downside & a trending move till the G TPO where it made a low of 17488 almost completing the 2 IB objective of 17485 leaving a small responsive buying tail at this known demand zone from 30th Mar.
NF then gave a pull back to 17570 in the K period but could not scale above the day’s VWAP resulting in a probe back to 17505 into the close with the dPOC also shifting lower to 17522 leaving an outside bar in terms of Value & a ‘b’ shape profile.
Click here to view the latest profile in NF on MPLite
- The NF Open was a Open Auction (OA)
- The Day type was a Normal Variation Day – Down (‘b’ shape profile)
- Largest volume was traded at 17522 F
- Vwap of the session was at 17587 with volumes of 103.6 L and range of 216 points as it made a High-Low of 17705-17488
- NF confirmed a multi-day FA at 17830 on 12/04 and tagged the 1 ATR objective of 17614 on 12/04. The 2 ATR target comes to 17398.
- NF confirmed a FA at 18171 on 05/04 and tagged the 2 ATR objective of 17703 on 07/04. This FA has not been tagged & is now a positional reference..
- NF confirmed a FA at 17965 on 06/04 and tagged the 2 ATR objective of 17513 on 12/04. This FA is currently on ‘T+6’ Days.
- The settlement day Roll Over point (April 2022) is 17546
- The VWAP & POC of Mar 2022 Series is 16753 & 17255 respectively.
- The VWAP & POC of Feb 2022 Series is 17183 & 17409 respectively.
- The VWAP & POC of Jan 2022 Series is 17669 & 17703 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 17505-17522-17626
HVN – 17573 / 17729** / 17861 / 18065
(** indicates series POC)
Business Areas for 18th Apr 2022:
Up
17522 – dPOC from 13th Apr
17570 – PBH from 13th Apr
17609 – PBH from 13th Apr
17632 – Weekly VWAP
17679 – Selling Singles (13th Apr)
17727 – VPOC from 11th Apr
17777 – VAH from 11th Apr
17804 – 3-day composite VAH
Down
17505 – Closing PBL (13th Apr)
17476 – Monthly IBL
17436 – Extension Handle (Daily)
17398 – 2 ATR from 17830
17365 – VPOC from 29th Mar
17323 – Buying singles (29th Mar)
17291 – VPOC from 28th Mar
17242 – PBL from 28th Mar
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Apr F: 37576 [ 38094 / 37521 ]
BNF opened higher & probed above PDH to tag 38094 but could not take out Monday’s daily swing high of 38097 indicating presence of supply in this zone as the auction turned lower triggering the reverse 80% Rule in the 4-day composite Value of 37670-37760-37949 hitting 37844 in the B period after which it made the dreaded C side extension to 37822 stopping just above the mid-profile singles of 38811 to 38710 giving the first PBH of the day at 37946 in the D TPO.
The inability of BNF to get above VWAP meant that the sellers were in control as it made a fresh RE lower in the F period swiping through the singles & negating the extension handle of 37710 and went on to make a low of 37612 in the G period almost completing the 2 IB target of 37595 and gave a bounce back to 37835 in the I TPO where it stalled just below the IBL & confirmed the second PBH of the day triggering a spike lower into the close as it tagged the yPOC of 37548.
Value was overlapping to higher but the spike zone of 37612 to 37521 would be the immediate reference for the next open whereas on the higher timeframe we now have a 6-day composite (Click here to view the composite chart) with Value at 37652-37760-37976 as the zone to watch.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Auction (OA)
- The Day type was a Normal Variation Day – Down (with a spike close)
- Largest volume was traded at 37694 F
- Vwap of the session was at 37789 with volumes of 41.9 L and range of 572 points as it made a High-Low of 38094-37521
- BNF confirmed a FA at 38780 on 05/04 and tagged the 2 ATR objective of 37423 on 07/04. This FA has not been tagged & is now a positional reference...
- The settlement day Roll Over point (Aril 2022) is 36550
- The VWAP & POC of Mar 2022 Series is 34992 & 35648 respectively.
- The VWAP & POC of Feb 2022 Series is 37712 & 37712 respectively.
- The VWAP & POC of Jan 2022 Series is 37772 & 38232 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 37584-37694-37946
HVN – 36799 / 37170 / 37723*** / 38437 / 38640
(** indicates series POC)
Business Areas for 18th Apr 2022:
Up
37612 – Spike High from 13th Apr
37789 – VWAP from 13th Apr
37946 – PBH from 13th Apr
38047 – Selling Singles (13th Apr)
38175 – NeuX zone high
38338 – SOC (Scene Of Crime)
38425 – VPOC from 05th Apr
38607 – SOC (Scene Of Crime)
Down
37550 – HVN from 13th Apr
37443 – Buying Singles (12th Apr)
37250 – Daily Extension Handle
37049 – Extension Handle (01st Apr)
36926 – Trend Day VWAP (01st Apr)
36822 – dPOC from 01st Apr
36722 – mid-profile singles
36604 – Buying Singles (01st Apr)
(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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