Nifty Jun F: 15697 [ 15774 / 15465 ]
NF opened higher as it tested the previous day’s selling tail and got rejected leading to a late Open Test Drive Down as it fell by more than 100 points in the A period and picked up greater momentum from the ‘B’ period onwards where it left a selling extension handle at 15668 and made REs (Range Extension) lower in the ‘C’ & ‘D’ periods where it not only tagged the vPOC of 15548 but went on to revisit the positional reference of 15502 (the FA from 2nd Jun) as it made lows of 15465 stopping right at the buying singles from 31st May where the initial demand for this series was seen. The buying re-emerged in this zone as was visible in the long tail at lows from 15533 to 15465 as the auction reversed the probe to the upside scaling above the VWAP after which it negated the extension handle of 15668 and saw a short covering move to 15731 into the close leaving a 3-1-3 profile for the day with Value overlapping on both sides thanks to the big range of 309 points. The dPOC of 15728 will be the immediate reference on the upside whereas on the downside, the important level to watch would be today’s VWAP of 15619 in the next session.
Click here to view the latest profile in NF on MPLite
- The NF Open was a Open Auction In Range plus Drive Down (OAOR + D)
- The Day type was a Normal Variation Day – Down (3-1-3 profile)
- Largest volume was traded at 15728 F
- Vwap of the session was at 15619 with volumes of 119 L and range of 309 points as it made a High-Low of 15774-15465
- 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. This FA got tagged on 18/06 and gave a good bounce of more than 200 points validating the 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 15577-15728-15742
HVNs – 15277 / 15458 / 15578 / 15686 / 15722*
BankNifty Jun F: 34597 [ 34838 / 33937 ]
BNF opened higher but gave an Open Test Drive from previous day’s HVN of 34840 as it broke below the yPOC of 34600 in the A period itself & left a selling extension handle at 34480 in the ‘B’ period confirming a long initiative tail at top from 34565 to 34838 in the IB. The auction continued to trend lower over the next 2 periods as it got into the buying singles of 21st May and completed the 2 ATR target of 33945 from previous day’s FA of 34970 in the ‘D’ period and having achieved this major objective in double quick time saw some profit booking along with new buying coming in resulting in an responsive buying tail from 34075 to 33937 which changed the PLR (Path of Least Resistance) of the day to the upside as BNF first built volumes at 34260 and then went on to negate the extension handle of 34480 as it retraced the entire fall from the ‘B’ period and even got into the IB singles spiking to 34718 into the close leaving a 3-1-3 profile for the day with mostly lower Value. The tail of 34718 to 34838 would be the immediate reference on the upside for the next session where as today’s VWAP of 34382 will be the important level on the downside below which the buying tail at lows could come into play.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Auction In Range plus Drive Down (OAOR + D)
- The Day type was a Normal Variation Day – Down (3-1-3 profile)
- Largest volume was traded at 34388 F
- Vwap of the session was at 34382 with volumes of 43.4 L and range of 901 points as it made a High-Low of 34838-33937
- BNF confirmed a FA at 34970 on 17/06 and almost tagged the 2 ATR objective of 33945 on 18/06.
- 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 34094-34388-34536
HVNs – 34778 / 35239* / 35472 / 35616
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