Nifty May F: 16253 [ 16275 / 15968 ]
NF once again opened with a huge gap of 219 points & this time it was to the upside as it not only scaled above PDH (Previous Day High) but continued to drive all through the IB (Initial Balance) forming a big range of 201 points while making a high of 16169 & leaving a long initiative buying tail from 16106 to 15968.
The auction then made multiple attempts to extend the range to the upside in the C, D & F periods but could only make marignal news highs till 16197 indicating slight exhaustion and this triggered the first & only test of the day’s VWAP in the G TPO as NF even looked into the morning singles but was swiftly rejected leaving a PBL (Pull Back Low) at 16098 which saw the stuck inventory make adjustments resulting in a fresh OTF (One Time Frame) move higher into the close as it tagged the 18th May VPOC of 16233 & gave a spike from 16234 to 16275.
Click here to view the latest profile in NF on MPLite
- The NF Open was an Open Drive – Up (OD)
- The Day type was a Normal Variation Day – Up (‘p’ shape profile with a spike)
- Largest volume was traded at 16152 F
- Vwap of the session was at 16151 with volumes of 138.1 L and range of 307 points as it made a High-Low of 16275-15968
- NF confirmed a FA at 16495 on 06/05 and tagged the 2 ATR objective of 16004 on 11/05. This FA has not been tagged & is now a positional reference.
- NF confirmed a FA at 16980 on 05/05 and tagged the 2 ATR objective of 16513 on 06/05. This FA has not been tagged & is now a positional reference.
- The settlement day Roll Over point (May 2022) is 17265
- The VWAP & POC of Apr 2022 Series is 17430 & 17145 respectively.
- The VWAP & POC of Mar 2022 Series is 16753 & 17255 respectively.
- The VWAP & POC of Feb 2022 Series is 17183 & 17409 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 16090-16152-16235
HVNs – 15853 / 16321** / 16429 / 16984 / 17076
(** indicates series POC)
Business Areas for 23rd May 2022:
Up
16275 – Spike High (20th May)
16325 – PBH from 18th May
16388 – PBH from 10th May
16433 – VPOC from 06th May
16495 – FA from 06th May
16573 – Gap Mid-point
16643 – Daily Extension Handle
Down
16234 – Spike Low (20th May)
16167 – PBL from 20th May
16098 – Buying Singles (20th May)
16033 – IB Singles Mid-point
15979 – Weekly IBH
15933 – Singles Mid-point
15879 – Gap Mid-point
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty May F: 34242 [ 34341 / 33606 ]
BNF also opened with a gap up above PDH and confirmed an Open Drive higher as it climbed by more than 500 points in the IB while making a high of 34118 and leaving a long initiative buying tail from 33943 to 33606.
The auction then made the dreaded C side extension stalling just below the 18th May VPOC of 34143 and this led to a narrow range balance being formed till the E period after which it made another RE (Range Extension) attempt in the F TPO tagging new highs of 34170 but once again got swiftly rejected triggering a probe below the day’s VWAP and a test of the morning singles where it took support leaving a PBL at 33911 in the G period showing that the buyers were defending this zone.
BNF then made a fresh RE in the H TPO as it finally found demand above 34143 and remained above it to make new highs of 34341 in the L period kissing the 18th May VWAP before closing the day at 34242 forming a ‘p’ shape profile for the day with completely higher Value.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was an Open Drive – Up (OD)
- The Day type was a Normal Variation Day – Up (‘p’ shape profile)
- Largest volume was traded at 34053 F
- Vwap of the session was at 34073 with volumes of 43.1 L and range of 736 points as it made a High-Low of 34341-33606
- BNF confirmed a multi-day FA at 34797 on 12/05 and tagged the 2 ATR objective of 33527 on the same day. This FA has not been tagged & is now a positional reference.
- BNF confirmed a FA at 34834 on 06/05 and tagged the 2 ATR objective of 33472 on 12/05. This FA has not been tagged & is now a positional reference.
- The settlement day Roll Over point (May 2022) is 36515
- The VWAP & POC of Apr 2022 Series is 37090 & 36386 respectively.
- The VWAP & POC of Mar 2022 Series is 34992 & 35648 respectively.
- The VWAP & POC of Feb 2022 Series is 37712 & 37712 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 33872-34053-34221
HVNs – 34643** / 35931 / 36120
(** indicates series POC)
Business Areas for 23rd May 2022:
Up
34264 – Weekly POC
34342 – 18th May VWAP
34490 – HVN from 18th May
34648 – Weekly VPOC
34797 – Multi-day FA (11th May)
35032 – Singles mid-point
35162 – Weekly mid-profile singles
35290 – HVN from 05th May
Down
34215 – HVN from 20th May
34073 – VWAP from 20th May
33911 – Buying Singles (20th May)
33758 – IB Singles Mid-point
33592 – Singles Mid-point
33447 – Gap Mid-point
33317 – Closing PBH (19th May)
33168 – Buying singles (19th May)
(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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