Nifty Sep F: 17611 [ 17635 / 17501 ]
NF opened above the yPOC of 17536 and probed higher making a high of 17566 in the ‘A’ period but lack of fresh demand resulted in the ‘B’ period being a rebel as it moved lower breaking below 17536 and making new lows for the day at 17501 as it took support just above the third extension handle of yesterday at 17499 indicating buyers coming back as it left a small tail at lows in the IB (Initial Balance) from 17521 to 17501. The auction remained in a narrow range till the ‘F’ period and made similar lows near the morning singles suggesting that the PLR (Path of Least Resistance) was to the upside and this got more confirmation with a RE (Range Extension) in the ‘G’ period after which NF left an extension handle at 17580 in the ‘J’ TPO and went onto complete the 2 IB objective of 17631 in the ‘L’ period while making a high of 17635 which saw some profit booking pushing the auction to 17600 into the close. The day’s Value was slightly higher with an overlapping POC at 17536 which along with today’s VWAP of 17565 would be the important support level for the next session.
Click here to view the latest profile in NF on MPLite
- The NF Open was a Open Auction (OA)
- The Day type was a Normal Variation Day – Up (NV)
- Largest volume was traded at 17535 F
- Vwap of the session was at 17565 with volumes of 63.9 L and range of 134 points as it made a High-Low of 17635-17501
- 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 17506-17535-17589
HVNs – 16710 / 17126 / 17316 / 17366 / 17402 / 17536
Business Areas for 17th Sep:
Up
17628 – Selling singles from 16th Sep
17669 – 1 ATR objective from 17536
17713 – Weekly ATR from 17366
17746 – 1 ATR from 17611
Down
17598 – Immediate singles from 16th Sep
17565 – VWAP from 16th Sep
17521 – Initiative Singles from 16th Sep
17477 – Trend Day VWAP of 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: 37780 [ 37855 / 36984 ]
BNF opened and stayed above the reference of 36954 in the ‘A’ period getting accepted in the supply zone from 3rd Sep which was a sign that the buyers were persistant and this led to an early extension handle right in the ‘B’ period at 37150 with the auction making it’s intention pretty clear and went into what we call the Beast Mode as it not only made new highs of the series surpassing the swing high of 37249 but left another extension handle at 37258 increasing the momentum of the rise to complete the 2 IB objective of 37440 in the ‘E’ period itself. It continued making higher highs in the ‘G’ & ‘H’ TPOs too and gave a small pull back in the ‘I’ period to 37451 which was just a launch pad for the beast to start it’s late afternoon flight which began with yet another extension handle at 37545 in the ‘J’ period as BNF completed the 3 IB target of 37668 with ease and went on to record new All Time Highs of 37855 leaving a monstrous Trend Day Up with a daily range of 872 points which was the highest in almost last 3 months. However, there was good profit booking into the close which saw the dPOC shift higher to 37741 which will be the reference for the next open with strong support at today’s VWAP of 37423 for the coming session(s).
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Auction (OA)
- The Day type was a Trend Day – Up (TD)
- Largest volume was traded at 37741 F
- Vwap of the session was at 37423 with volumes of 43.7 L and range of 872 points as it made a High-Low of 37855-36984
- BNF confirmed a FA at 36251 on 07/09 and tagged the 2 ATR objective of 37210 on 16/09. This FA has not been tagged in over ‘T+6’ Days and is now positional reference.
- 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 37230-37741-37855
HVNs – 35840 / 36749
Business Areas for 17th Sep:
Up
37795 – Selling Singles from 16th Sep
37878 – Weekly ATR from 36755
38025 – 5 IB on weekly
38139 – Monthly 1.5 IB target
Down
37741 – POC from 16th Sep
37639 – Extension Handle from 16th Sep
37545 – Extension Handle from 16th Sep
37423 – Trend Day VWAP from 16th 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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