Nifty Nov F: 18355 [ 18417 / 18256 ]
NF made a slightly higher open back in the 5-day composite Value and tagged the magnet-like ultra prominent POC of 18410 but could not sustain attracting aggressive supply coming in as it left an initiative selling tail from 18366 to 18417 & trended lower hitting the 09th Nov VPOC of 18274 in the D period where it made a low of 18272.
The auction then got back to forming a balance below the IBL & extension handle of 18326 as the morning sellers looked to be booking out and made a fresh attempt to break lower in the I & J TPOs but could only manage marginal new low of 18256 and failed to get any more fresh selling triggering a short covering move back to 18379 into the close forming a ‘b’ shape profile for the day with completely lower Value.
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 Normal Variation Day – Down (‘b’ shape profile)
- Largest volume was traded at 18343 F
- Vwap of the session was at 18322 with volumes of 83.5 L and range of 161 points as it made a High-Low of 18417-18256
- The settlement day Roll Over point (Nov 2022) is 17800
- The VWAP & POC of Oct 2022 Series is 17350 & 17260 respectively.
- The VWAP & POC of Sep 2022 Series is 17500 & 17643 respectively.
- The VWAP & POC of Aug 2022 Series is 17530 & 17530 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 18290-18343-18365
HVNs – 17745 / 18133 / 18193 / 18409**
(** indicates series POC)
Business Areas for 21st Nov 2022:
Up
18379 – Selling tail (18 Nov)
18410 – Weekly POC
18442 – VPOC from 17 Nov
18478 – 1 ATR from 18343
18509 – 2 IB target of 5-day Value
18578 – Weekly 2 IB
Down
18343 – dPOC from 18 Nov
18308 – HVN from 18 Nov
18263 – Singles from 18 Nov
18223 – Singles mid-point (11 Nov)
18176 – Weekly 1.5 IB
18129 – Singles from 10 Nov
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Nov F: 42505 [ 42614 / 42294 ]
BNF opened the day continuing to build on the 2-day balance it was forming with a mere 132 point range IB overlapping the composite Value but left a small selling tail indicating that the PLR (Path of Least Resistance) was to the downside and more confirmation of this came via couple of extension handles at 42481 & 42452 in the C & D periods where it completed the 2 IB objective of 42350 while making a low of 42317 and took support just above the 15th Nov VPOC of 42302.
Similar to NF, the auction then settled down into a balance below the extension handles and made a fresh RE attempt in the J TPO where it tagged the VPOC of 42302 but could only manage 42294 holding above the weekly POC of 42287 indicating some demand coming back and this led to a short covering move back to the 2-day POC of 42542 into the close leaving a ‘b’ shape profile with mostly lower Value and the dPOC shifting higher to 42515 into the close which will be the opening reference for the next session.
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 Normal Variation Day – Down (‘b’ shape profile)
- Largest volume was traded at 42302 F
- Vwap of the session was at 42361 with volumes of 25.8 L and range of 335 points as it made a High-Low of 42561-42226
- BNF confirmed a FA at 42053 on 11/11 and tagged 1 ATR objective of 42474 on 15/11. The 2 ATR target comes to 42894
- BNF confirmed a FA at 42100 on 14/11 and tagged 1 ATR objective of 42527 on 15/11. The 2 ATR target comes to 42954
- BNF confirmed a FA at 42226 on 15/11 and tagged 1 ATR objective of 42643 on 16/11. The 2 ATR target comes to 43060
- The VWAP & POC of Oct 2022 Series is 39750 & 38950 respectively.
- The VWAP & POC of Sep 2022 Series is 39910 & 40770 respectively.
- The VWAP & POC of Aug 2022 Series is 38530 & 38320 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 42379-42515-42542
HVNs – 41452** / 42294
(** indicates series POC)
Business Areas for 21st Nov 2022:
Up
42515 – dPOC from 18 Nov
42643 – Selling tail (17 Nov)
42774 – Weekly 1.5 IB
42934 – Weekly 2 IB
43060 – 2 ATR from 42226
43254 – Weekly 3 IB
Down
42444 – LVN 1 from 18 Nov
42354 – LVN 2 from 18 Nov
42203 – VPOC from 14 Nov
42053 – FA from 11 Nov
41936 – VPOC from 09 Nov
41825 – Monthly IBH
(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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