Nifty Dec F: 17317 [ 17400 / 17233 ]
NF opened with a gap up above PDH (Previous Day High) but was swiftly rejected confirming an ORR (Open Rejection Reverse) start to the day as it left an initiative selling tail in the IB and completed the 80% Rule in previous days Value with the help of 3 REs (Range Extension) lower from the E to the G periods but failed to find fresh supply below yVAL which resulted in yet another ‘b’ shape profile with a close near the dPOC of 17331. Value once again was overlapping which means we now have a nice 3-day composite balance with the updated Value at 17260-17304-17349 with a good chance of a move away from here in the coming session.
Click here to view the latest profile in NF on MPLite
- The NF Open was a Open Rejection Reverse – Down (ORR)
- The Day type was a Normal Day (‘b’ shape profile)
- Largest volume was traded at 17331 F
- Vwap of the session was at 17306 with volumes of 93.6 L and range of 167 points as it made a High-Low of 17400-17233
- The settlement day Roll Over point (December) is 17600
- The VWAP & POC of Nov Series is 17635 & 17961 respectively.
- The VWAP & POC of Oct Series is 18036 & 18155 respectively.
- The VWAP & POC of Sep Series is 17519 & 17365 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 17274-17331-17348
HVNs – 17198 / 17294 / 17533
Business Areas for 17th Dec:
Up
17349 – 3-day composite VAH
17404 – Weekly IBL
17461 – VPOC from 13th Dec
17503 – DD singles from 13th Dec
17533 – DD VWAP from 13th Dec
17580 – Extension Handle from 13th Dec
17600 – Dec series RO (Roll Over) point
Down
17304 – 3-day composite POC
17260 – 3-day composite VAL
17208 – Weekly VAL
17143 – Extension Handle from 07th Dec
17105 – Buying Singles from 07th Dec
17060 – Singles mid-point from 07th Dec
17030 – Singles mid-point
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Dec F: 36711 [ 37279 / 36545 ]
BNF also opened with a big gap up of 250 points as it scaled above the FA of 37218 and made a high of 37279 in the opening minutes but like NF was swiftly rejected back into previous day’s range & value as it completed the 80% Rule in the IB (Initial Balance) itself after leaving a long selling tail from 37106 to 37279. The auction then made a typical C side extension lower and gave a retracment to the day’s VWAP in the D period where it left a PBH (Pull Back High) at 37052 and this rejection from yPOC triggered a fresh probe to the downside from the E period onwards where it left an extension handle at 36924 and went on to almost tag the 2 IB objective of the day in the G period where it made a low of 36663 and gave the second retracement of the day but failed to even tag the day’s VWAP this time as it left a PBH at 36885 in the H TPO indicating that the downside probe is not yet over. The K period then made a fresh RE lower breaking below the 07th Dec extension handle of 36578 while making a low of 36545 but could not sustain below it giving a quick bounce to 36760 into the close settling down near the dPOC of 36736 forming a DD (Double Distribution) Trend Day Down with completely lower Value.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Rejection Reverse – Down (ORR)
- The Day type was a Double Distribution Trend Day – Down (DD)
- Largest volume was traded at 36736 F
- Vwap of the session was at 36869 with volumes of 34.7 L and range of 734 points as it made a High-Low of 37279-36545
- BNF confirmed a FA at 37218 on 15/12 and the 1 ATR objective comes to 36533. This FA was negated in the gap up open on 16/12.
- The settlement day Roll Over point (December) is 37555
- The VWAP & POC of Nov Series is 38047 & 39404 respectively.
- The VWAP & POC of Oct Series is 39368 & 41157 respectively.
- The VWAP & POC of Sep Series is 37210 & 36633 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 36547-36736-36991
HVNs – 36246 / 36425 / 37044 / 37750
Business Areas for 17th Dec:
Up
36736 – dPOC from 16th Dec
36924 – Extension Handle from 16th Dec
37052 – PBH (Pull Back High) from 16th Dec
37192 – Selling singles mid-point from 16th Dec
37385 – Extension Handle from 13th Sep
37555 – RO point plus SOC (Scene Of Crime)
37745 – NeuX VWAP from 24th Nov
Down
36696 – HVN
36566 – Buying singles from 16th Dec
36404 – Buying Singles from 07th Dec
36252 – Singles Mid-point
36044 – Monthly IBL
35885 – VPOC from 06th Dec
35677 – Weekly 3 IB target
(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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