Nifty May F: 16255 [ 16275 / 15885 ]
NF opened higher and remained above the 3-day composite POC of 15853 forming a narrow 100 points range IB (Initial Balance) but left an important buying tail from 15915 to 15885 while making a high of 15985 where it left an extension handle in the C period which signalled the start of an OTF (One Time Frame) probe to the upside for the rest of the day as the auction left mid-profile singles till 16055 and went on to leave couple of more extension handles at 16177 & 16240 to almost complete the 4 IB objective for the day as it made a high of 16275 leaving a Trend Day Up with a huge range of 390 points showing once again that Normal Day (Balance) leads to a Trend Day (Imbalance).
Click here to view the latest profile in NF on MPLite
- The NF Open was an Open Auction In Range (OAIR)
- The Day type was a Trend Day – Up (TD)
- Largest volume was traded at 16119 F
- Vwap of the session was at 16105 with volumes of 123.6 L and range of 390 points as it made a High-Low of 16275-15885
- 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 16045-16120-16270
HVNs – 15853** / 16321 / 16429 / 16984 / 17076
(** indicates series POC)
Business Areas for 18th May 2022:
Up
16264 – HVN from 17th May
16328 – VPOC from 10th May
16388 – PBH from 10th May
16433 – VPOC from 06th May
16495 – FA from 06th May
16573 – Gap Mid-point
16643 – Daily Extension Handle
Down
16240 – Extension Handle (17th May)
16177 – Extension Handle (17th May)
16120 – dPOC from 17th May
16055 – Mid-profile singles
15985 – Extension Handle (17th May)
15915 – Buying Singles (17th May)
15853 – 3-day composite VPOC
(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: 34308 [ 34375 / 33670 ]
BNF also signalled the expected move away from the 3-day composite as it opened higher tagging the 13th May VPOC of 33888 & left an initiative buying tail in the IB from 33733 to 33670 and made a definite RE (Range Extension) in the D period which in turn started a trending move to the upside as the auction negated the FA of 34023 and scaled above the important reference of previous week’s NeuX VWAP of 34146 to complete the 2 IB objective of 34190 in the I TPO which saw some profit booking coming in triggering a retracement to 34002.
BNF resumed the uptrend from the J period onwards as it went on to hit 34375 stalling just below the 4-day composite VAL of 34380 (6th to 11th May) which led to another small retracement to 34260 and saw the dPOC also shift here at 34274 into the close leaving a Trend Day Up.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was an Open Auction In Range (OAIR)
- The Day type was a Trend Day – Up (TD)
- Largest volume was traded at 34274 F
- Vwap of the session was at 34057 with volumes of 45.6 L and range of 705 points as it made a High-Low of 34375-33670
- BNF confirmed a FA at 34023 on 13/05 and tagged the 1 ATR objective of 33345 on the same day. This FA got re-visted on 17/05 and is no longer a valid reference.
- 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 33907-34274-34363
HVNs – 34637** / 35931 / 36120
(** indicates series POC)
Business Areas for 18th May 2022:
Up
34380 – 4-day composite VAL
34515 – Gap mid-point
34650 – 4-day composite VPOC
34731 – 4-Day composite VAH
34833 – FA from 06th May
35032 – Singles mid-point
35162 – Weekly mid-profile singles
35290 – HVN from 05th May
Down
34274 – dPOC from 17th May
34198 – Extension Handle (17th May)
34057 – Trend Day VWAP (17th May)
33888 – HVN from 17th May
33733 – Buying Singles (17th May)
33583 – VWAP from 16th May
33482 – 3-day composite VAL
33360 – Buying Singles (16th May)
(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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