Nifty Jun F: 15692 [ 15777 / 15626 ]
NF not only accepted previous day’s spike close but continued the imbalance to the downside with a big gap down open of 120 points as it completed the 2 ATR objective of 15666 from the FA of 15909 and saw some good profit booking by the shorts along with some new buying coming in at this previous demand zone which led to a trending move higher in the IB (Initial Balance) where it made a high of 15744 and made a good C side extension higher tagging 15777 but this attempt to get back into previous day’s range was rejected with the confirmation of yet another selling tail at top. The ‘D’ period then got back into the IB followed by the break of VWAP in the ‘E’ period as the sellers continued to push lower for the next few periods and went on to make a RE to the downside in the ‘K’ period where it made new lows for the week at 15626 but was swiftly rejected as it left a tail at lows from 15656 to 15626 and got back to tag the day’s VWAP into the close leaving a Neutral Centre Day. Value was once again completely lower so the PLR (Path of Least Resistance) remains to be down with today’s POC of 15714 being the immediate reference for the next open.
Click here to view the latest profile in NF on MPLite
- The NF Open was a Open Auction Out of Range (OAOR)
- The Day type was a Neutral Centre Day (NeuC)
- Largest volume was traded at 15714 F
- Vwap of the session was at 15702 with volumes of 87 L and range of 152 points as it made a High-Low of 15777-15626
- NF confirmed a multi-day FA at 15909 on 16/06 and tagged the 2 ATR objective of 15666 on 17/06.
- NF confirmed a FA at 15502 on 02/06 and tagged the 2 ATR target of 15793 on 07/06. This FA has not been tagged and is now positional support..
- The settlement day Roll Over point (June) is 15396
- The VWAP & POC of May Series is 14945 & 15094 respectively.
- The VWAP & POC of Apr Series is 14576 & 14375 respectively.
- The VWAP & POC of Mar Series is 14816 & 14737 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 15664-15714-15738
HVNs – 15277 / 15458 / 15578 / 15686 / 15722*
BankNifty Jun F: 34682 [ 34970 / 34486 ]
BNF opened with a big gap down of 400 points but left an OL (Open=Low) start at 34700 as it probed higher in the IB (Initial Balance) making a high of 34925 and made a typical C side extension giving new highs of 34970 which stalled the upmove and led to a balance being formed for the first half of the day but the auction made a RE (Range Extension) to the downside in the ‘J’ period confirming a FA (Failed Auction) at top and continued to probe lower in the ‘K’ period where it made new lows of 34486 almost completing the 2 IB objective of the day and took support in the buying singles of Monday giving a retracement back to the day’s VWAP into the close but saw some fresh selling at 34763 triggering a 200 point drop in the closing 15 minutes which even saw the dPOC shifting lower to 34601 confirming a Neutral Centre Day. Value was completely lower with a FA at top and a move away from the last 7-day composite BNF has formed at 34948-35265-35357 means that the PLR would be to the downside if the auction sustains below 34600 in the next session.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Auction Out of Range (OAOR)
- The Day type was a Neutral Centre Day (NeuC)
- Largest volume was traded at 34601 F
- Vwap of the session was at 34739 with volumes of 33.9 L and range of 484 points as it made a High-Low of 34970-34486
- BNF confirmed a FA at 34970 on 17/06 and almost tagged the 1 ATR objective of 34457 on 17/06. The 2 ATR comes to 33945.
- The settlement day Roll Over point (June) is 35380
- The VWAP & POC of May Series is 33568 & 34828 respectively.
- The VWAP & POC of Apr Series is 33260 & 32490 respectively.
- The VWAP & POC of Mar Series is 34618 & 33870 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 34503-34601-34831
HVNs – 34778 / 35253* / 35472 / 35616
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