Nifty Oct F: 17300 [ 17324 / 17100 ]
NF gave a rare follow through to a NeuX (Neutral Extreme) with a lower open right at 14th Oct’s Gap mid-point of 17155 and continued to probe to the downside making a low of 17100 & tagging the HVN of this series where it left an initiative buying tail indicating return of aggressive demand which got further confirmation with couple of extension handles at 17190 & 17223 as the auction got back into previous Value & tagged the PBH pf 17310 while making a high of 17324 in the I period and settling down into a balance for the rest of the day forming a ‘p’ shape profile for the day with an overlapping POC from last 2 days around 17285 which will be the opening reference for the next session.
Click here to view the latest profile in NF on MPLite
- The NF Open was an Open Auction Out of Range (OAOR)
- The Day type was a Normal Variation Day – Up (‘p’ shape profile)
- Largest volume was traded at 17285 F
- Vwap of the session was at 17241 with volumes of 89.9 L and range of 224 points as it made a High-Low of 17324-17100
- The settlement day Roll Over point (Oct 2022) is 16837
- The VWAP & POC of Sep 2022 Series is 17500 & 17643 respectively.
- The VWAP & POC of Aug 2022 Series is 17530 & 17530 respectively.
- The VWAP & POC of Jul 2022 Series is 16556 & 15976 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 17222-17285-17322
HVNs – 16980 / 17100 / 17280**
(** indicates series POC)
Business Areas for 18th Oct 2022:
Up
17318 – Selling singles (17 Oct)
17367 – Weekly IBH
17428 – Selling Singles (06 Oct)
17480 – SOC from 23 Sep
17520 – HVN from 23 Sep
17562 – Selling Singles (23 Sep)
Down
17285 – dPOC from 17 Oct
17241 – VWAP from 17 Oct
17190 – Extension Handle (17 Oct)
17133 – Buying Singles (17 Oct)
17096 – Singles mid-point
17027 – VPOC from 13 Oct
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Oct F: 39975 [ 40045 / 39224 ]
BNF opened the day with an attempt to move away from last session’s Gaussian Curve first on the downside as it probed below previous lows & hit 39224 but got swiftly rejected from the 5-day composite VAH of 39240 triggering a quick short covering rally for the rest of the IB leaving an A period buying tail from 39441 to 39224 and an extension handle at 39592 to not only complete the 80% Rule in previous Value but went on to negate the FA of 39677 while making a high of 39719.
The auction then made couple of REs to the upside but stalled just below the Sep series VWAP of 39910 giving way to a pull back down to 39702 where the defence of the 39677 FA indicated change of polarity after which the auction went on to make a fresh RE in the I period before giving a Spike from 39947 to 40045 into the close hinting that the PLR continues to remain to the upside.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a late Open Rejection Reverse – Up (ORR)
- The Day type was a Normal Variation Day – Up (‘p’ profile with spike close)
- Largest volume was traded at 39804 F
- Vwap of the session was at 39731 with volumes of 46.3 L and range of 821 points as it made a High-Low of 40045-39224
- BNF confirmed a FA at 39677 on 14/10 which was not only negated on 17/10 but the auction closed above it. The 1 ATR objective on the upside comes to 40425
- The settlement day Roll Over point (Oct 2022) is 37890
- The VWAP & POC of Sep 2022 Series is 39910 & 40770 respectively.
- The VWAP & POC of Aug 2022 Series is 38530 & 38320 respectively.
- The VWAP & POC of Jul 2022 Series is 35427 & 35099 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 39739-39804-40044
HVNs – 38372 / 39050** / 39176
(** indicates series POC)
Business Areas for 18th Oct 2022:
Up
39992 – Selling tail (17 Oct)
40126 – PBH from 23 Sep
40246 – Weekly ATR objective
40392 – Weekly 3 IB target
40495 – Selling tail mid (23 Sep)
40591 – Daily Extension Handle
Down
39947 – Spike Low (17 Oct)
39804 – dPOC from 17 Oct
39677 – Weekly IBH
39592 – Extension Handle (17 Oct)
39441 – Buying Singles (17 Oct)
39332 – Mid-point of buying tail
(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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