Nifty Sep F: 17535 [ 17545 / 17381 ]
The narrow range & lowest volumes of over 2 years in the previous session made way for a Trend Day Up in NF as the auction opened with a move away from previous Value with the help of an initiative tail from 17406 to 17381 and went on to leave as many as 4 buying extension handles at 17419, 17474, 17499 & 17517 making an OTF (One Time Frame) probe higher all day forming new highs for this series at 17545 before profit booking saw the dPOC shifting higher to 17536 into the close and will be the reference for the next open as acceptance above it could continue this imbalance to the upside whereas on the downside, today’s VWAP of 17477 will be the important support to watch along with the buying singles from 17406 to 17381 for the rest of the series.
Click here to view the latest profile in NF on MPLite
- The NF Open was a Open Auction In Range (OAIR)
- The Day type was a Trend Day – Up (TD)
- Largest volume was traded at 17536 F
- Vwap of the session was at 17477 with volumes of 57.3 L and range of 164 points as it made a High-Low of 17545-17381
- The settlement day Roll Over point (September) is 16642
- The VWAP & POC of Aug Series is 16455 & 16255 respectively.
- The VWAP & POC of Jul Series is 15778 & 15820 respectively.
- The VWAP & POC of Jun Series is 15721 & 15721 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 17449-17536-17545
HVNs – 16710 / 17126 / 17316 / 17366 / 17402
Business Areas for 16th Sep:
Up
17536 – POC from 15th Sep
17571 – Monthly ATR
17621 – Weekly 3 IB Target
17669 – 1 ATR objective from 17536
Down
17517 – Extension Handle from 15th Sep
17477 – Trend Day VWAP of 15th Sep
17453 – HVN from 15th Sep
17406 – Buying Singles from 15th Sep
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Sep F: 36968 [ 37065 / 36590 ]
BNF made a quick probe lower at open and even made a look down below PDL (Previous Day Low) as it tagged 13th Sep VPOC of 36594 while making a low of 36590 in the opening minutes but was swiftly rejected back into previous day’s range & Value triggering the 80% Rule which it completed with the help of a C side extension where it made a high of 36806. The auction then made similar highs in the next 2 periods indicating supply coming back in this zone which led to a balance being formed till the ‘H’ period as the retracement to the day’s VWAP resulted in a PBL (Pull Back Low) at 36718 signalling that the morning buyers were keen to defend as BNF made a fresh RE (Range Extension) in the ‘H’ period and followed it up couple of extension handles at 36828 & 36876 to make a trending move in the ‘J’ & ‘K’ periods where it made a high of 37065 stalling just below the 3rd Sep SOC (Scene Of Crime) of 37106 after which it gave a retracement to 36930 into the close building a HVN at 36954 leaving a Double Distribution Trend Day Up with both the range as well as Value forming an outside bar. The immediate zone of singles from 36930 to 36876 will be the important support to watch along with today’s VWAP of 36836 whereas on the upside, staying above 36954 could give a test of 37106 & 37210 in the coming session.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Rejection Reverse – Up (ORR)
- The Day type was a Double Distribution Day – Up (DD)
- Largest volume was traded at 36785 F
- Vwap of the session was at 36836 with volumes of 27.5 L and range of 474 points as it made a High-Low of 37065-36590
- BNF confirmed a FA at 36251 on 07/09 and tagged the 1 ATR objective of 36731 on the same day. The 2 ATR target comes to 37210. This FA is currently on ‘T+6’ Days.
- The settlement day Roll Over point (September) is 35699
- The VWAP & POC of Aug Series is 35715 & 35616 respectively.
- The VWAP & POC of Jul Series is 35105 & 34804 respectively.
- The VWAP & POC of Jun Series is 35012 & 35070 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 36600-36785-36939
HVNs – 35840 / 36749
Business Areas for 16th Sep:
Up
37106 – SOC (Scene Of Crime) from 03rd Sep
37210 – 2 ATR target from FA of 36251
37340 – Monthly ATR objective
37411 – Weekly 3 IB target
Down
36930 – Buying singles from 15th Sep
36836 – DD VWAP from 15th Sep
36651 – Initiative tail from 15th Sep
36530 – PBL (Pull Back Low) from 13th Sep
(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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