Nifty Jul F: 15869 [ 15893 / 15777 ]
NF opened lower right at yesterday’s VWAP of 15805 and continued to probe lower in the IB (Initial Balance) where it made a low of 15777 but left a small buying tail and left a strong buying extension handle at 15822 in the C period and followed it up by scaling above the selling reference of 15845 in the ‘D’ period triggering further upside as the auction went on to complete the 1 ATR objective of 15878 from the FA of 15758 but formed similar highs of 15891 & 15893 in the ‘H’ & ‘I’ periods indicating short term exhaustion in the upmove. NF then made a retracement to the dPOC of 15851 into the close forming a ‘p’ shape profile for the day with mostly higher Value and HVNs at 15795 & 15870. The July series right from the start has been forming a balance on the larger timeframe giving a 17-day composite with Value at 15753-15827-15900 and with NF confirming a FA near the lower end of this composite which almost gave the VAH tag today, the coming session(s) would need a drive away from 15900 for a fresh imbalance to the upside failing which could make another rotation lower to 15827 and 15758.
Click here to view the latest profile in NF on MPLite
Click here to view the 17-day composite in NF on MPLite
- The NF Open was a Open Auction In Range (OAIR)
- The Day type was a Normal Variation Day – Up (NV)
- Largest volume was traded at 15851 F
- Vwap of the session was at 15840 with volumes of 47.1 L and range of 116 points as it made a High-Low of 15893-15777
- NF confirmed a FA at 15758 on 13/07 and tagged the 1 ATR of 15878 on 14/07. The 2 ATR target comes to 15998.
- 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.
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 15816-15851-15891
HVNs – 15720 / 15817
BankNifty Jul F: 35755 [ 35885 / 35555 ]
BNF opened below the yPOC of 35751 and went on to break below yVWAP of 35648 testing the buying extension handle of 35569 in the ‘A’ period as it made a low of 35555 after which it filled up the DD zone of 35618 to 35569 in the ‘B’ period. The defence of the DD zone indicated that the demand was back and this led to a short covering move in the C period as the auction made new highs for the day at 35772 and followed it up with a higher high of 35808 in the ‘D’ period where it stalled right just below PDH (Previous Day High) of 35815 and gave a small retracement to the IBH (Initial Balance High) which held and this led to a fresh RE (Range Extension) in the ‘H’ period enabling BNF to complete the 2 IB objective of 35883 but just like NF, similar high in the ‘I’ period signalled that the upside was getting limited. The rest of the day saw a retracement back to the IBH with a close around the overlapping POC of 35767 which will be the reference for the next open for a move away from this ‘p’ shape composite profile of last 2 days.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Auction In Range (OAIR)
- The Day type was a Normal Variation Day – Up (NV)
- Largest volume was traded at 35775 F
- Vwap of the session was at 35728 with volumes of 27.4 L and range of 330 points as it made a High-Low of 35885-35555
- 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.
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 35666-35775-35883
HVNs – 34902 / 35276 / 35742
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