Nifty Aug F: 16572 [ 16689 / 16547 ]
NF opened higher hitting giving a rare follow up to the Neutral Extreme Day but settled down into an OAOR (Open Auction Out of Range) forming a very narrow 38 point range in the IB (Initial Balance) where it made a high of 16680. Poor trade facilitation at these new highs was evident when the auction made the dreaded C side extension tagging new ATH (All Time High) of 16689 but could not sustain and got back into the IB forming a balance and building volumes at 16662 till the ‘E’ period before making the first RE (Range Extension) to the downside in the ‘F’ period confirming a FA (Failed Auction) at the top. The ‘G’ period then played it’s role to perfection in an OAOR set up as it left a selling extension handle at 16632 confirming the sellers taking control and NF then went on to complete the 3 IB objective of the day at 16565 in the ‘H’ period and continued to form lower lows till the ‘K’ as it made a low of 16547 stopping right at the NeuX VWAP of previous session marking the end of the imbalance. The auction then gave a feeble bounce to 16591 in the ‘L’ period and formed a micro balance into the close which brought the dPOC also lower to 16559 leaving a second successive Neutral Extreme profile but this time to the downside along with a FA at ATH which means that the PLR (Path of Least Resistance) would be to the downside with today’s VWAP of 16615 being the first big hurdle on the upside.
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 Extreme Day – Down (NeuX + DD)
- Largest volume was traded at 16559 F
- Vwap of the session was at 16615 with volumes of 64.4 L and range of 141 points as it made a High-Low of 16689-16547
- NF confirmed a FA at 16689 on 18/08 and almost tagged the 1 ATR objective of 16539 on the same day. The 2 ATR target comes to 16390.
- The settlement day Roll Over point (August) is 15805
- The VWAP & POC of Jul Series is 15778 & 15820 respectively.
- The VWAP & POC of Jun Series is 15721 & 15721 respectively.
- The VWAP & POC of May Series is 14945 & 15094 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 16547-16559-16655
Business Areas for 20th Aug:
Up
16615 – NeuX VWAP from 18th Aug
16689 – FA (Failed Auction) from 18th Aug
16724 – Monthly ATR target
Down
16533 – PBL from 17th Aug
16455 – Trend Day PBL from 13th Aug
16415 – Buying singles from 13th Aug
16369 – Extension handle on monthly profile
16338 – VPOC from 12th Aug
16287 – VPOC from 11th Aug
16250 – VWAP from 11th Aug
16221 – 6-day comp VAL (4th to 11th Aug)
(The are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Aug F: 35601 [ 36280 / 35477 ]
BNF opened with huge gap up of 337 points but made an almost OH (Open=High) start at 36280 and got rejected from the VPOC of 36174 as it left a long selling tail in the IB from 36097 to 36280 and made a low of 36020. The auction then gave the typical fake move in the C period as it made an attempt to get into the IB singles but got rejected leaving a PBH (Pull Back High) at 36112 after which the sellers struck in full force forming a OTF (One Time Frame) move lower for the rest of the day with the help of multiple extension handles at 36020, 35937, 35871 & 35706 as it went on to break into the buying singles from 04th Aug (35639 to 35412) and made a low of 35477 completing the 3 IB objective for the day and leaving a Trend Down Profile engulfing the last 10-day composite. The close has been in an imbalance so can expect the downside to continue in the coming session(s) if BNF stays below the HVN of 35510 with the 03rd Aug VPOC of 35288 along with the buying extension handles of 35090 & 34955 as the levels to watch apart from the lower VPOC of 34663 from 30th Jul whereas the immediate extension handle of 35706 & the Trend Day VWAP of 35834 being the important references on the upside.
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 Trend Day – Down (TD)
- Largest volume was traded at 35821 F
- Vwap of the session was at 35834 with volumes of 37.7 L and range of 803 points as it made a High-Low of 36280-35477
- The settlement day Roll Over point (August) is 34860
- The VWAP & POC of Jul Series is 35105 & 34804 respectively.
- The VWAP & POC of Jun Series is 35012 & 35070 respectively.
- The VWAP & POC of May Series is 33568 & 34828 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 35478-35821-35991
Business Areas for 20th Aug:
Up
35706 – Extension handle from 18th Aug
35835 – Trend Day VWAP from 18th Aug
36113 – Selling singles from 18th Aug
Down
35510 – HVN from 18th Aug
35420 – Buying transition from 04th Aug
35288 – VPOC from 03rd Aug
35090 – Extension Handle from 03rd Aug
34664 – VPOC from 30th Jul
(The 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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