Nifty Jan F: 18336 [ 18350 / 18234 ]
NF opened lower well below the spike zone of 18278 to 18320 but took support at the 3-day composite POC of 18242 as it made a low of 18234 in the opening minutes and went on to probe above PDH but could only make marginal new highs of 18323 and this lack of demand led to another probe lower as the auction got back into the 3-day composite Value in the B period but got rejected from 18252 after which it formed a Normal Day leaving an important PBL (Pull Back Low) at 18285 which triggered a short covering move to 18350 in the K period before it closed right at the dPOC of 18335 leaving a ‘p’ shape profile with completely higher Value but contraction of range & volume.
Click here to view the latest profile in NF on MPLite
-
- The NF Open was a Open Rejection Reverse – Up (ORR)
- The Day type was a Normal Day (‘p’ shape profile)
- Largest volume was traded at 18335 F
- Vwap of the session was at 18309 with volumes of 43.4 L and range of 116 points as it made a High-Low of 18350-18234
- NF confirmed a FA at 17995 on 11/01 and tagged the 1 ATR objective of 18180 on 12/01. The 2 ATR target comes to 18365.
- NF confirmed a FA at 17949 on 07/01 and tagged the 1 ATR objective of 17735 on the same day. This FA got re-visited on 10/01 and tagged the 1 ATR upside target of 18163 on 12/01 & now possibly headed to the2 ATR objective of 18377.
- The settlement day Roll Over point (January 2022) is 17260
- The VWAP & POC of Dec Series is 17169 & 17240 respectively.
- The VWAP & POC of Nov Series is 17635 & 17961 respectively.
- The VWAP & POC of Oct Series is 18036 & 18155 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 18295-18335-18342
HVNs – 17400 / 17745** / 18240
(** indicates series POC)
Business Areas for 18th Jan 2022:
Up
18336 – dPOC from 17th Jan
18377 – 2 ATR from negated FA of 17949
18439 – Weekly 2 IB target
18492 – 1 ATR from 18335
18541 – 3 IB objective on weekly
18594 – ATH in NF
18649 – Previous week’s range
Down
18315 – HVN from 17th Jan
18285 – PBL from 17th Jan
18252 – Buying singles from 17th Jan
18218 – Weekly HVN
18174 – Buying singles from 14th Jan
18129 – Mid-point of buying tail
18083 – dPOC from 11th Jan
18033 – PBL from 11th Jan
(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: 38368 [ 38715 / 38251 ]
BNF opened lower by more than 200 points but made an OL (Open=Low) start at 38283 after which it gave a express swipe higher scaling above PDH and confirming a multi-day FA at 38110 and almost tagged the 1 ATR objective of 38723 as it made a high of 38715 but was swiftly rejected from this PBH (Pull Back High) from 13th Jan after which it left an initiative selling tail from 38493 to 38713 and made an attempt to make a RE lower but could only manage 38251 as the weekly POC held & the auction forged a narrow range balance in previous value leaving a ‘b’ shape profile for the day with a close at the prominent POC at 38375.
We also have a nice 2-day composite with Value at 38245-38371-38461 and need initiative volumes in the coming session(s) for a move away from here.
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 Normal Day (‘b’ shape profile)
- Largest volume was traded at 38375 F
- Vwap of the session was at 38419 with volumes of 23.6 L and range of 464 points as it made a High-Low of 38715-38251
- BNF confirmed a multi-day FA at 38957 on 13/01 and tagged the 1 ATR target of 38328 on 14/01. The 2 ATR objective comes to 37698.
- BNF confirmed a FA at 38180 on 11/01 and tagged the 1 ATR objective of 38825 on 12/01. The 2 ATR target comes to 39471. This FA got re-visited on 14/01 and showed demand coming back in this zone.
- The settlement day Roll Over point (January 2022) is 35240
- The VWAP & POC of Dec Series is 36082 & 35100 respectively.
- The VWAP & POC of Nov Series is 38047 & 39404 respectively.
- The VWAP & POC of Oct Series is 39368 & 41157 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 38304-38375-38458
HVNs – 35620 / 37590 / 37762 / 38224** / 38555
(** indicates series POC)
Business Areas for 18th Jan 2022:
Up
38375 – dPOC from 17th Jan
38493 – Selling singles from 17th Jan
38604 – Mid-point of selling tail
38723 – 1 ATR from 38110
38874 – dPOC from 12th Jan
38957 – FA from 12th Jan
39062 – Top of selling tail
Down
38363 – 2-day composite VWAP
38270 – Buying singles from 17th Jan
38173 – Buying singles from 14th Jan
38063 – Buying singles from 11th Jan
37960 – Singles mid-point
37798 – VPOC from 07th Jan
37645 – PBL from 07th Jan
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
For more tradeable ideas and intraday trading strategies based on MarketProfile and the OrderFlow live charts with OrderFlow analysis Live, subscribe to the trading room. The Vtrender Trading Room hosts India’s largest MarketProfile community live every trading session from 9.15 am to 3.30 pm.
If not a Trading Room member you can get immediate access at – https://www.explara.com/e/vtrendertradingroomlive
