Nifty Oct F: 18432 [ 18594 / 18395 ]
NF opened with a gap up of 84 points and almost tagged the 1.5 weekly objective of 18597 in the opening minutes where it made a high of 18594 but failed to find fresh demand which in turn led to a big liquidation move in the B period where the auction not only left an extension handle at 18535 but went on to swipte through previous Value and range forming new lows for the week at 18411 leaving a large 183 point range in the IB (Initial Balance). However, NF took support in this zone of singles and left a responsive buying tail to reverse the probe to the upside as it completed the reverse 80% Rule in previous Value in the C TPO and continued to probe higher till the G period as it negated the extension handle of 18535 & got back above the day’s HVN of 18565 and established similar highs indicating exhaustion to the upside. The auction then coiled for a couple of TPOs as it carved double inside bar in the H & I periods before triggering another big liquidation move into the close from the ‘J’ period onwards as it went on to make new lows for the day at 18395 before closing the day right at the dPOC of 18435 which shifted lower and would be the immediate reference for the next open. The daily Value & Range have both made outside bars but the close has been in an imbalance and could continue in the same direction for the next open for a probable tag of the 14th Oct VPOC of 18353.
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 Normal Day (Outside Bar)
- Largest volume was traded at 18435 F
- Vwap of the session was at 18499 with volumes of 100.2 L and range of 199 points as it made a High-Low of 18594-18395
- NF confirmed a FA at 17862 on 12/10 and tagged the 2 ATR objective of 18219 on 14/10. This FA is currently on ‘T+5’ Days.
- The settlement day Roll Over point (October) is 17611
- The VWAP & POC of Sep Series is 17519 & 17365 respectively.
- The VWAP & POC of Aug Series is 16455 & 16255 respectively.
- The VWAP & POC of Jul Series is 15778 & 15820 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 18404-18435-18541
HVNs – 17700 / 17751 / 17817
Business Areas for 20th Oct:
Up
18435 – DPOC from 19th Oct
18499 – VWAP from 19th Oct
18540 – SOC (Scene Of Crime) from 19th Oct
18597 – 1.5 weekly IB objective
18650 – 2 IB target on weekly
Down
18405 – Singles from 19th Oct
18353 – VPOC from 14th Oct
18303 – VWAP from 14th Oct
18267 – HVN from 14th Oct
18216 – Gap Mid-point from 14th 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: 39633 [ 40040 / 39409 ]
BNF also opened higher and went on to look up above PBH as it hit new ATH of 40040 in the opening minutes but could not sustain returning back into previous day’s range indicating no new demand at these new highs. The auction then completed the 80% Rule in previous day’s well balanced Value in the B period as it left an extension handle at 39872 and continued the fall breaking into the buying singles of 39636 to 39402 and took support just around the lows as it tagged 39409 and confirmed a buying tail in the IB from 39524 to 39409. The unusally large IB range of 631 points ensured that BNF formed a balance inside it as it first probed higher till the G period where it left a PBH at 39964 and then reversed the move to the downside after leaving the second PBH of the day at 39940 in the J TPO triggering a quick fall to 39525 where it took support above the morning singles and gave a small bounce to close the day just below the dPOC of 39652. Both range & value were overlapping for the day giving a nice 2-day balance with Value at 39642-39778-39891 which will be the reference for the coming session.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Auction (OA)
- The Day type was a Normal Day (Outside Bar)
- Largest volume was traded at 39652 F
- Vwap of the session was at 39762 with volumes of 33.9 L and range of 631 points as it made a High-Low of 40040-39409
- BNF confirmed a FA at 38190 on 06/10 and tagged the 1 ATR objective of 37581 on the same day. This FA got re-visited in ‘T+2’ Day on 08/10 and got rejected once again closing well below it. BNF finally managed to close above this FA on 11/10 and tagged the 2 ATR target of 39408 to the upside on 14/10.
- The settlement day Roll Over point (October) is 37596
- The VWAP & POC of Sep Series is 37210 & 36633 respectively.
- The VWAP & POC of Aug Series is 35715 & 35616 respectively.
- The VWAP & POC of Jul Series is 35105 & 34804 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 39524-39652-39878
HVNs – 37622 / 37730 / 37874
Business Areas for 20th Oct:
Up
39642 – 2-day composite VAL
39778 – 2-day composite POC
39891 – 2-day composite VAH
40040 – Weekly High
40189 – Monthly ATR objective
40392 – Weekly 2 IB Target
Down
39612 – Weekly IBL
39519 – Singles mid-point
39402 – HVN from 14th Oct
39290 – Zone of singles from 14th Oct
39064 – VWAP from 14th Oct
38962 – Extension Handle from 14th Oct
(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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