Nifty Jul F: 15637 [ 15741 / 15586 ]
NF opened lower and continued previous day’s imbalance to the downside with an ORR (Open Rejection Reverse) from yesterday’s IBL leaving yet another initiative selling tail from 15745 to 15683 after which it went on to make new lows for the series at 15616 with a big C side extension and formed lower lows till the ‘F’ period where it tagged 15586 and took support in the buying tail from 21st June (15592 to 15557). The auction then not only stopped the OTF (One Time Frame) probe lower but made higher highs over the next 4 periods as it got back into the IB (Initial Balance) and went on to test the morning singles leaving a PBH (Pull Back High) at 15685 which meant that the sellers were still in control and this led to a close around the dPOC of 15632. NF formed a ‘b’ shape profile for the day with Value completely lower for the second consecutive session and is right now stuck in between the 2 zones of singles so one of the two (15685 or 15590) needs to be taken out effectively for a move in that direction in the coming session with the PLR (Path of Least Resistance) being to the downside towards 15559 / 15524 & 15476.
Click here to view the latest profile in NF on MPLite
- The NF Open was a Open Rejection Reverse – Down (ORR)
- The Day type was a Normal Variation Day – Down (‘b’ shape profile)
- Largest volume was traded at 15632 F
- Vwap of the session was at 15646 with volumes of 89 L and range of 155 points as it made a High-Low of 15741-15586
- The settlement day Roll Over point (July) is 15840
- The VWAP & POC of Jun Series is 15721 & 15721 respectively.
- The VWAP & POC of May Series is 14945 & 15094 respectively.
- The VWAP & POC of Apr Series is 14576 & 14375 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 15608-15632-15669
HVNs – 15720 / 15817
BankNifty Jul F: 34487 [ 35001 / 34440 ]
BNF opened below the yPOC of 35106 and confirmed an ORR (Open Rejection Reverse) from yesterday’s small buying tail as it not only broke below the weekly VPOC of 34908 making new lows for the series but left an initiative selling tail from 34759 to 35001 while forming a relatively large IB range of 409 points where it made a low of 34592. The auction then made a C side extension where it negated the buying extension handle of 34526 from 21st June and followed it with lower lows till the ‘F’ period making a low of 34460 but the range kept getting narrower indicating exhaustion in the down move and this resulted in a small bounce till the ‘I’ period where it left a PBH (Pull Back High) at 34681 as the supply came back and triggered a fresh move lower into the close and even made marginal new lows of 34440 before closing the day at 34486 leaving a ‘b’ shape profile with completely lower Value. The PLR remains to the downside with acceptance below 34495 in the coming session giving a probable drop to 34275 & 33997 whereas the levels to watch on the upside would be 34759 & 34960.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Rejection Reverse – Down (ORR)
- The Day type was a Normal Variation Day – Down (‘b’ shape profile)
- Largest volume was traded at 34568 F
- Vwap of the session was at 34622 with volumes of 39.9 L and range of 561 points as it made a High-Low of 35001-34440
- The settlement day Roll Over point (July) is 35000
- The VWAP & POC of Jun Series is 35012 & 35070 respectively.
- The VWAP & POC of May Series is 33568 & 34828 respectively.
- The VWAP & POC of Apr Series is 33260 & 32490 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 34467-34568-34674
HVNs – 34902 / 35276 / 35742
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