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 )
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
