Nifty Jun F: 15832 [ 15848 / 15630 ]
NF opened with a big gap down of 89 points but gave a quick bounce to the weekly HVN of 15785 in the opening minutes from where it got rejected as initiative sellers entered the auction trigerring a huge fall of more than 150 points in the ‘A’ period itself which negated the buying singles of 10th Jun (15700 to 15657) and made a low of 15630 which was the VAH of the 3-day composite (31st May to 2nd Jun) from where it gave another quick bounce and scaled above VWAP in the ‘B’ period indicating that the morning sellers had booked out. The auction then started to coil forming a balance in the middle of the IB range till late afternoon as it build volumes at 15728 but stayed above the day’s VWAP all through which led to a short squeeze in the ‘I’ period resulting in an extension handle at 15785 and a successful RE (Range Extension) to the upside as it completed the 80% Rule in Friday’s balance in a flash while making a high of 15837. NF then made another fresh RE in the K period but stalled just below the FA of 15856 as it made new highs for the day at 15848 before closing around the day’s HVN of 15835. Value for the day was completely lower but the profile has a buying tail at lows and has closed around the highs so the PLR (Path of Least Resistance) would be to the upside as long as 15785 is held.
- The NF Open was a Open Test Drive – Down (OTD)
- The Day type was a Normal Variation Day – Up (NV)
- Largest volume was traded at 15728 F
- Vwap of the session was at 15749 with volumes of 85.1 L and range of 217 points as it made a High-Low of 15848-15630
- NF confirmed a FA at 15856 on 11/06 and tagged the 1 ATR objective of 15727 on 14/06. The 2 ATR objective comes to 15597
- NF confirmed a FA at 15502 on 02/06 and tagged the 2 ATR target of 15793 on 07/06. This FA has not been tagged and is now positional support..
- The settlement day Roll Over point (June) is 15396
- The VWAP & POC of May Series is 14945 & 15094 respectively.
- The VWAP & POC of Apr Series is 14576 & 14375 respectively.
- The VWAP & POC of Mar Series is 14816 & 14737 respectively.
- Value zones (volume profile) are at 15631-15728-15800
HVNs – 15277 / 15458 / 15578 / 15686 / 15722*
BankNifty Jun F: 35065 [ 35130 / 34455 ]
BNF not only opened lower below the immediate reference of 35065 but gave a big drive down falling by 590 points in the A period as it made new lows for the series at 34455 but it took support in the buying singles of 21st May and left an initiative tail in the IB from 34632 to 34455 getting back above the day’s VWAP which negated the strong bearish open. The auction then formed a balance in a narrow range leaving a PBL (Pull Back Low) at 34660 in the ‘D’ period and a PBH (Pull Back High) at 34829 in the ‘F’ period building volumes at 34758 but moved away from this balance in the ‘I’ period where it not only negated the A period selling tail but went on to make new highs for the day at 35091 after which it gave a pull back to 35907 in the ‘K’ period before making new highs for the day at 35130 and pulling the dPOC higher to the important 35065 level. Value for the day was mostly lower but the close at 35065 was strong and if sustains above it in the coming session could continue to probe higher with the VPOC of 35164 & the selling extension handle of 35275 being the immediate references.
- The BNF Open was a Open Drive – Down (OD)
- The Day type was a Normal Day
- Largest volume was traded at 35065 F
- Vwap of the session was at 34844 with volumes of 33.6 L and range of 675 points as it made a High-Low of 35130-34455
- The settlement day Roll Over point (June) is 35380
- The VWAP & POC of May Series is 33568 & 34828 respectively.
- The VWAP & POC of Apr Series is 33260 & 32490 respectively.
- The VWAP & POC of Mar Series is 34618 & 33870 respectively.
- Value zones (volume profile) are at 34745-35066-35126
HVNs – 34778 / 35253* / 35472 / 35616
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