Nifty May F: 14715 [ 14756 / 14620 ]
NF began the day with a move lower as it got into the lower singles of previous day and made new lows for the week at 14636 but was swiftly rejected after which it reversed the probe to the upside for the rest of the IB (Initial Balance) but stalled right below yVWAP of 14751 and the inability to take out the first supply point of 14765 meant that the supply was coming back as the auction retraced the entire up move and even made an attempt to make a RE (Range Extension) lower in the ‘F’ period as it made a low of 14620 but got rejected from just above the daily VPOC of 14614 from 5th May. This rejection meant that the sellers were not able to do a good job leading to a short covering move till the ‘L’ period as NF even made marginal new highs for the day at 14756 but once again the higher supply point of 14765 came into play forming it back into the IB with a close right at the dPOC of 14718. Value for the day was overlapping to lower with failed attempts to extend the range on both sides indicating 2 equal forces fighting it out as a result of which we have a nice 2-day composite with Value at 14690-14716-14774 and can expect the auction to give a move away from this balance in the coming session(s).
- The NF Open was a Open Auction In Range (OAIR)
- The Day type was a Neutral Centre Day (NeuC)
- Largest volume was traded at 14718 F
- Vwap of the session was at 14697 with volumes of 101.3 L and range of 136 points as it made a High-Low of 14756-14620
- The settlement day Roll Over point (May) is 14925
- The VWAP & POC of Apr Series is 14576 & 14375 respectively.
- The VWAP & POC of Mar Series is 14816 & 14737 respectively.
- The VWAP & POC of Feb Series is 14893 & 15115 respectively.
- Value zones (volume profile) are at 14668-14718-14731
HVNs – 14606 / 14714* / 14896 / 14976
BankNifty May F: 32265 [ 32699 / 32184 ]
BNF got rejected from just below the yPOC of 32706 in the A period after which it left a selling tail in the IB right near yVWAP of 32635 indicating that the PLR (Path of Least Resistance) remained to the downside and the auction made multiple REs (Range Extension) lower but could not even complete the 2 IB objective as it made a low of 32184 into the close with the dPOC also shifting lower to 32313 indicaitng that the sellers were not able to do a good job as it left a ‘b’ shape profile for the day. Value however was completely lower for the third consecutive day so staying below today’s Value, BNF would continue to remain weak for a probe towards 32007 / 31890 & the weekly VPOC of 31710 whereas on the upside, the auction would need to sustain above 32313 & 32402 for a probe towards the daily VPOCs of 32706.
- The BNF Open was a Open Auction In Range (OAIR)
- The Day type was a Normal Variation Day – Down (NV)
- Largest volume was traded at 32313 F
- Vwap of the session was at 32402 with volumes of 37.5 L and range of 515 points as it made a High-Low of 32699-32184
- BNF confirmed a FA at 33599 on 30/04 and tagged the 2 ATR objective of 31825 on 03/05. This FA has not been tagged and is now a positional supply point.
- The settlement day Roll Over point (May) is 33765
- The VWAP & POC of Apr Series is 33260 & 32490 respectively.
- The VWAP & POC of Mar Series is 34618 & 33870 respectively.
- The VWAP & POC of Feb Series is 35530 & 35820 respectively.
- Value zones (volume profile) are at 32225-32313-32495
HVNs – 32615 / 32927*
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