Nifty Jul F: 16068 [ 16084 / 15930 ]
NF opened higher and scaled above yesterday’s PBH of 15999 as it made a high of 16034 in the A period but left an initiative selling tail in the IB indicating that the PLR (Path of Least Resistance) was to the downside & after a typical C side move to 16011 showing rejection from the A period singles, the auction went on to make couple of REs lower in the D & G periods tagging the yPOC of 15941 while making a low of 15930.
However, the sellers were unable to push any further as was seen in a small responsive buying tail at lows after which NF began to form a balance building volumes arond 15990 till the J TPO before spiking higher into the close to hit 16084 leaving a Neutral Extreme Day Up. Value was completely inside previous profile & the NeuX zone from 16048 to 16084 would be the reference for the next open with today’s VWAP of 16008 being the important level to hold for more upside to continue.
Click here to view the latest profile in NF on MPLite
- The NF Open was an Open Auction In Range (OAIR)
- The Day type was a Neutral Extreme Day – Up (NeuX)
- Largest volume was traded at 15988 F
- Vwap of the session was at 16008 with volumes of 91.7 L and range of 154 points as it made a High-Low of 16084-15930
- NF confirmed a FA at 15651 on 04/07 and tagged the 2 ATR objective of 16092 on 07/07. This FA has not been tagged and is now a positional reference.
- NF confirmed a FA at 15514 on 01/07 and tagged the 2 ATR objective of 15935 on 05/07. This FA has not been tagged and is now a positional reference.
- The settlement day Roll Over point (Jul 2022) is 15720
- The VWAP & POC of Jun 2022 Series is 15895 & 15793 respectively.
- The VWAP & POC of May 2022 Series is 16270 & 16340 respectively.
- The VWAP & POC of Apr 2022 Series is 17430 & 17145 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 15947-15988-16028
HVNs – 15670 / 15838 / 16114**
(** indicates series POC)
Business Areas for 18th Jul 2022:
Up
16089 – Weekly NeuX VWAP
16137 – Selling singles (13th Jul)
16173 – Weekly IBL
16220 – HVN from 11th Jul
16272 – Weekly VPOC
16325 – Selling Singles (10th Jun)
Down
16048 – Extension Handle (15th Jul)
16008 – NeuX VWAP from 15th Jul
15955 – PBL from 15th Jul
15920 – LVN from 14th Jul
15868 – Buying tail (14th Jul)
15815 – 1 ATR from FA of 16042
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Jul F: 34782 [ 34944 / 34541 ]
BNF tagged that Wednesday’s POC of 34944 at open and was swiftly rejected triggering an OTF (One Time Frame) probe to the downside as it matched PDL of 34623 in the B period & went on to make couple of REs lower in the D & G TPOs where it made a low of 34541 just falling short of the 2 ATR objective of 34524 from the FA of 35471.
This being the previous initiative demand zone from 07th Jul as we had an initiative buying tail from 34630 to 34370 on that day, the sellers found it difficult to extend any more which led to the formation of a ‘b’ shape profile for the day but saw some short covering into the close as the auction got into the A period singles of the day to tag 34810 into the close.
Value was overlapping to lower as BNF formed a Normal Day giving more confirmation that the trade facilitation to the downside was getting limited but would need to negate today’s selling tail of 34810 to 34944 for a probable re-visit to that FA of 35471 which will be on ‘T+4’ days in the next session.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was an Open Auction In Range (OAIR)
- The Day type was a Normal Day (‘b’ shape profile)
- Largest volume was traded at 34605 F
- Vwap of the session was at 34697 with volumes of 32.2 L and range of 403 points as it made a High-Low of 34944-34541
- BNF confirmed a FA at 35471 on 12/07 and tagged the 1 ATR objective of 34998 on 13/07. The 2 ATR target comes to 34524.
- The settlement day Roll Over point (Jul 2022) is 33380
- The VWAP & POC of Jun 2022 Series is 33969 & 33498 respectively.
- The VWAP & POC of May 2022 Series is 34570 & 34477 respectively.
- The VWAP & POC of Apr 2022 Series is 37090 & 36386 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 34579-34605-34755
HVNs – 33179 / 33833 / 34307 / 34727** / 35105
(** indicates series POC)
Business Areas for 18th Jul 2022:
Up
34810 – Selling Singles (15th Jul)
34944 – Weekly IBH
35061 – VWAP from 13th Jul
35186 – Mid-profile singles (13th Jul)
35307 – HVN from 13th Jul
35425 – VPOC from 12th Jul
Down
34767 – HVN from 15th Jul
34605 – dPOC from 15th Jul
34466 – Singles Mid-point
34367 – Weekly VPOC
34260 – VPOC from 06th Jul
34121 – Weekly (Trend Up) VWAP
(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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