Nifty Jun F: 15348 [ 15865 / 15328 ]
NF opened with a gap up of 110+ points & re-visited 14th June’s SOC (Scene Of Crime) at 15844 as it made a high of 15865 but could not get above that day’s high of 15877 and confirmed a late ORR (Open Rejection Reverse) to the downside as it left an extension handle at 15795 triggering a huge imbalance for the rest of the day.
The auction not only swiped through the 3-day composite Value with a C side extension but left 2 more extension handles at 15759 & 15675, the latter being right at the weekly IBL indicating that the probe lower was far from over with NF completing the 1.5 Weekly IB objective of 15540 after which it left the fourth selling extension handle at 15527 and went on to break the daily swing lows of 15465 & 15410 completing the Weeklt 2 IB target of 15404 & even tagged the monthly ATR level of 15348 while making a low of 15328 in the M period leaving a big range of 537 points but saw the dPOC shift lower to 15340 into the close suggesting shorts booking out.
Click here to view the latest profile in NF on MPLite
- The NF Open was an Open Rejection Reverse – Down (ORR)
- The Day type was a Trend Day – Down (TD)
- Largest volume was traded at 15340 F
- Vwap of the session was at 15552 with volumes of 192.3 L and range of 537 points as it made a High-Low of 15865-15328
- The settlement day Roll Over point (Jun 2022) is 16180
- The VWAP & POC of May 2022 Series is 16270 & 16340 respectively.
- The VWAP & POC of Apr 2022 Series is 17430 & 17145 respectively.
- The VWAP & POC of Mar 2022 Series is 16753 & 17255 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 15328-15340-15483
HVNs – 15740 / 16070 / 16309 / 16566** / 16621
(** indicates series POC)
Business Areas for 17th Jun 2022:
Up
15340 – dPOC from 16th Jun
15372 – HVN from 16th Jun
15432 – HVN from 16th Jun
15491 – Mid-profile singles (16th Jun)
15552 – Trend Day VWAP (16th Jun)
15628 – Mid-profile singles (16th Jun)
15675 – Extension Handle (16th Jun)
Down
15325 – VWAP from 27th May 2021
15255 – Extension Handle (26th May 2021)
15208 – Buying Singles (26th May 2021)
15164 – Buying Singles (25th May 2021)
15125 – VPOC from 21st May 2021
15076 – PBL from 21st May
15007 – VPOC from 20th May 2021)
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Jun F: 32633 [ 33798 / 32561 ]
BNF opened with a big gap up of almost 300 points but stalled right in the Initiative Selling Tail of this week as it made a high of 33798 and settlled down into an OAOR (Open Auction Out of Range) leaving a very narrow 192 point range IB (Initial Balance) above PDH.
The auction then made a good C side extension to the downside leaving an Extension Handle (EH) at 33606 as it not only got back into previous day’s range but left a 2nd EH of the day at 33516 & swiped through the 3-day composite Value from 33491 to 33293 in the E period while leaving a zone of singles from 33254 to 33427 clearly showing the intent to move away from balance to imbalance which it did by giving 2 more extension handles at 33066 & 32934 completing the 1.5 Weekly IB target of 32907 and went on to tag the 08th Mar VPOC of 32686 in the I TPO.
BNF then gave a small bounce back to 32910 in the J period but resumed the downmove in the K where it made new lows of 32611 and followed it up with lower lows of 32561 in the closing TPO of M leaving a big Trend Day Down with a range of 1237 points.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was an Open Auction Out of Range (OAOR)
- The Day type was a Trend Day – Down (TD)
- Largest volume was traded at 33634 F
- Vwap of the session was at 33159 with volumes of 50.4 L and range of 1237 points as it made a High-Low of 33798-32561
- BNF confirmed a FA at 34735 on 09/06 which got negated on 10/06 and tagged the 2 ATR objective of 33677 on the downside on 13/06.
- BNF has confirmed a FA at 36132 on 30/05 and tagged the 2 ATR objective of 34793 on 09/06. This FA has not been tagged and is now a positional reference.
- The settlement day Roll Over point (Jun 2022) is 35250
- The VWAP & POC of May 2022 Series is 34570 & 34477 respectively.
- The VWAP & POC of Apr 2022 Series is 37090 & 36386 respectively.
- The VWAP & POC of Mar 2022 Series is 34992 & 35648 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 32930-33634-33798
HVNs – 33400 / 34710 / 35628** / 35854
(** indicates series POC)
Business Areas for 17th Jun 2022:
Up
32697 – LVN from 16th Jun
32841 – HVN from 16th Jun
33006 – Mid-profile singles
33159 – VWAP from 16th Jun
33255 – PBH from 16th Jun
33427 – Extension Handle
33542 – Mid-profile singles
33678 – Selling Singles
Down
32611 – Buying singles (16 Jun)
32508 – LVN from 08th Mar
32375 – HVN from 08th Mar
32258 – Weekly ATR target
32134 – Daily Swing Low (05 May 2021)
32027 – 2 ATR from weekly FA of 35555
31925 – Weekly 3 IB
31756 – VPOC from 23 Apr 2021
31554 – PBL from 23 Apr 2021
(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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