Nifty May F: 15842 [ 15780 / 15752 ]
NF opened higher negating the first of the previous session’s extension handle of 15827 but was swiftly rejected as it went back into the NeuX (Neutral Extreme) zone of 15827 to 15744 and tested the mini tail of 15756 to 15744. The auction then made a vertical take off not only getting back above 15827 but also took out the higher extension handle of 15890 and tagged the NeuX VWAP of 15942 as the A period ended & continued higher in the B TPO where it hit the yPOC of 15977 while making a high of 15980 but could not sustain above it leaving a large IB range of 228 points.
NF then remained inside this IB range all day to form a balance & left 2 small tails at both ends filling up the low volume zone of Friday’s profile and in the process has also formed a nice 3-day composite with Value at 15781-15853-15949 and looks set to give a move away from here in the coming session(s). (Click here to view the 3-day composite chart on MPLite)
Click here to view the latest profile in NF on MPLite
- The NF Open was an Open Rejection Reverse – Up (ORR)
- The Day type was a Normal Day – Inside Bar (3-1-3 balanced profile)
- Largest volume was traded at 15858 F
- Vwap of the session was at 15873 with volumes of 108.1 L and range of 228 points as it made a High-Low of 15980-15752
- NF confirmed a FA at 16495 on 06/05 and tagged the 2 ATR objective of 16004 on 11/05. This FA has not been tagged & is now a positional reference.
- NF confirmed a FA at 16980 on 05/05 and tagged the 2 ATR objective of 16513 on 06/05. This FA has not been tagged & is now a positional reference.
- The settlement day Roll Over point (May 2022) is 17265
- The VWAP & POC of Apr 2022 Series is 17430 & 17145 respectively.
- The VWAP & POC of Mar 2022 Series is 16753 & 17255 respectively.
- The VWAP & POC of Feb 2022 Series is 17183 & 17409 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 15801-15858-15916
HVNs – 15853** / 16321 / 16429 / 16984 / 17076
(** indicates series POC)
Business Areas for 17th May 2022:
Up
15853 – 3-day composite POC
15919 – PBH from 16th May
15965 – Selling singles (16th May)
16000 – SOC from 13th May
16097 – NeuX weekly VWAP
16172 – VPOC from 11th May
16208 – Weekly 2IB target
Down
15810 – PBL from 16th May
15770 – Buying singles (16th May)
15692 – 2 ATR from VPOC of 16172
15638 – Weekly 1.5 IB target
15583 – 1 ATR from 15829
15524 – Weekly 2IB target
15465 – Daily Swing Low (18th Jun 2021)
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty May F: 33596 [ 33849 / 33005 ]
BNF opened the day with a probe below PDL (Previous Day Low) as it made new lows for this series at 33005 which was swiftly rejected triggering a huge & quick rise to 33790 at the close of the IB. The auction then made the dreaded C side extension to 33822 and was sent back into the IB as the PLR (Path of Least Resistance) turned to the downside resulting in a PBL at 33360 in the H period.
The morning singles being defended meant that the buyers were back and this started a move higher even bringing a fresh RE (Range Extension) in the L TPO where it looked that BNF could spike into the close but once again it got rejected from 33849 and saw a liquidation move back to the day’s VWAP as it hit 33515 before closing the day at 33596 forming a Normal Day & a ‘p’ shape profile with completely inside Value. BNF also has formed a 3-day composite with the Value at 33482-33707-33977 & similar to NF can give a move away if gets initiative volumes at the open in the coming day(s). (Click here to view the 3-day composite chart on MPLite)
Click here to view the latest profile in BNF on MPLite
- The BNF Open was an Open Rejection Reverse – Up (ORR)
- The Day type was a Normal Day (‘p’ shape profile)
- Largest volume was traded at 33709 F
- Vwap of the session was at 33583 with volumes of 53.1 L and range of 844 points as it made a High-Low of 33849-33005
- BNF confirmed a FA at 34023 on 13/05 and tagged the 1 ATR objective of 33345 on the same day. The 2 ATR target comes to 32666.
- BNF confirmed a multi-day FA at 34797 on 12/05 and tagged the 2 ATR objective of 33527 on the same day.
- BNF confirmed a FA at 34834 on 06/05 and tagged the 2 ATR objective of 33472 on 12/05. This FA has not been tagged & is now a positional reference.
- The settlement day Roll Over point (May 2022) is 36515
- The VWAP & POC of Apr 2022 Series is 37090 & 36386 respectively.
- The VWAP & POC of Mar 2022 Series is 34992 & 35648 respectively.
- The VWAP & POC of Feb 2022 Series is 37712 & 37712 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 33514-33709-33779
HVNs – 34643** / 35931 / 36120
(** indicates series POC)
Business Areas for 17th May 2022:
Up
33707 – 3-day composite POC
33888 – VPOC from 13th May
34023 – FA from 13th May
34146 – NeuX weekly VWAP
34231 – 1.5 Weekly IB target
34380 – 4-day composite VAL
34515 – Gap mid-point
34650 – 4-day composite VPOC
Down
33583 – VWAP from 16th May
33482 – 3-day composite VAL
33360 – Buying Singles (16th May)
33182 – Singles mid-point
33005 – Weekly IBL
32914 – NeuX VWAP from 08th Mar
32775 – SOC from 08th Mar
32596 – 1.5 Weekly 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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