Nifty Jun F:
NF opened lower and went on to break below PDL (Previous Day Low) making a freak low of 11855 at open before it got back into previous day’s range and went on to almost tag the yPOC of 11915 making a high of 11911 in the A period confirming a ORR – Up (Open Rejection Reverse) start to the day. This ORR was negated & considered failed as NF broke below PDL again in the B period triggering a trending move down till the F period as NF made a low of 11836 but still could not complete the 1.5 IB extension lower which was at 11824. (Click here to view the profile chart for better understanding) The auction then saw the OTF (One Time Frame) move down stalling as the G period made an inside bar and this led to a reverse OTF move higher from the H period as NF got back above VWAP and went on to make a trending move till the L period making multiple range extension completing the 1.5 IB extension of 11940 as it made a high of 11950. NF did give a Neutral Extreme Day but closed off the highs and near the dPOC of 11922 making outside Value on the daily time frame with almost overlapping POC.
- The NF Open was a Open Rejection Reverse (ORR) – Up (which failed)
- The day type was a Neutral Extreme Day (Up)
- Largest volume was traded at 11922 F
- Vwap of the session was at 11882 with volumes of 86.8 L making a range of 114 points as it made a High-Low of 11950-11836
- The Trend Day VWAP of 12015 was broken & NF closed below it so it is no longer support and will be a new supply point now as we have a selling tail from 12016 to 12059
- The settlement day Roll Over point is 11980
- The VWAP & POC of May Series is 11613 & 11696 respectively.
- The VWAP & POC of Apr Series is 11641 & 11592 respectively.
- The VWAP & POC of Mar Series is 11327 & 11448 respectively.
You can check the monthly charts & other swing levels for Nifty & NF here & for the weekly charts & analysis, please click here.
Daily Zones:
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- Value zones (volume profile) are at 11864-11922-11929
Hypos / Estimates for the next session:
a) NF sustaining above 11922 could test higher levels of 11937-948 & 11965-979
b) Immediate support is at 11910 below which the auction could test 11889-883 & 11855
c) Above 11980, NF could probe higher to 11998-12005 & 12025-30
d) Below 11855, the PLR would be down for 11832-825 & 11800-795
e) Above 12030, the auction can probe higher to 12053-72 & 12094-115
f) Break of 11795 can trigger a move lower to 11770 & 11750-745
BankNifty Jun F:
Report to be updated…
- The BNF Open was a Open Rejection Reverse – Down (ORR)
- The day type was a Neutral Extreme Day (Up)
- Largest volume was traded at 30706 F
- Vwap of the session was at 30843 with volumes at 30.8 L in a session which traded a High-Low range of 31091-30665 for a range of 426 points
- The settlement day Roll Over point is 31644
- The VWAP & POC of May Series 30211 & 28940 respectively
- The VWAP & POC of Apr Series is 30037 & 29762 respectively.
- The VWAP & POC of Mar Series is 29061 & 29778 respectively.
For the Monthly charts & other swing levels for BankNifty & BNF click here & for the weekly charts & analysis, please click here.
Daily Zones:
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- Value zones (volume profile) are at 30683-30706-30948
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Hypos / Estimates for the next session:
a) BNF needs to get above 31040-60 for a probe higher to 31110-150 & 31200-240
b) Staying below 31025, the auction can test support of 30976-936 & below it 30860 / 815-800
c) Above 31240, the auction can rise to 31290-344 & 31368-395
d) Below 30800, BNF can probe lower to 30760 / 30700-680 & 30643
e) Sustaining above 31395, BNF can give a fresh leg up to 31450-480 & 31536-555
f) Break of 30643 could trigger a move down to 30575-543 & 30510-505
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