Nifty Oct F: 17540 [ 17560 / 17385 ]
NF made a lower open & remained below PDL of 17457 as it went on to tag the 1 ATR objective of 17385 to the dot where it left a small tail at the lows as the B period overpowered A for a change and carried this further by making couple of REs (Range Extension) in the C & D TPOs getting back to that prominent POC of 17500.
The auction then began to form a balance between 17490 t0 17440 leaving couple of PBLs as it tested VWAP twice in the F & J periods indicating the morning buyers defending and this led to a spike higher into the close after NF made a fresh RE in the K period and went on to make new highs of 17560 into the close.
On the higher timeframe, we have a nice 3-day composite Gaussian Curve with Value at 17457-17501-17537 & has a good chance of moving away in the next session(s) provided we get the initiative volumes at open where the Spike Rules will also be in play. Click here to view the 3-day composite chart on MPLite
Click here to view the latest profile in NF on MPLite
- The NF Open was an Open Auction Out of Range (OAOR)
- The Day type was a Normal Variation Day – Up (with a Spike close)
- Largest volume was traded at 17481 F
- Vwap of the session was at 17472 with volumes of 94.8 L and range of 175 points as it made a High-Low of 17560-17385
- NF confirmed a FA at 17599 on 18/10 and tagged the 1 ATR objective of 17385 on 20/10. The 2 ATR target downside comes to 17171
- The settlement day Roll Over point (Oct 2022) is 16837
- The VWAP & POC of Sep 2022 Series is 17500 & 17643 respectively.
- The VWAP & POC of Aug 2022 Series is 17530 & 17530 respectively.
- The VWAP & POC of Jul 2022 Series is 16556 & 15976 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 17403-17481-17501
HVNs – 16980 / 17100 / 17280**
(** indicates series POC)
Business Areas for 21st Oct 2022:
Up
17558 – SOC from 19 Oct
17599 – FA (Failed Auction)
17643 – September POC
17704 – VPOC from 22 Sep
17760 – LVN from 22 Sep
17808 – VWAP from 21 Sep
Down
17533 – 3-day comp VAL
17481 – dPOC from 20 Oct
17440 – PBL from 20 Oct
17394 – NeuX Weekly VWAP
17334 – Weekly LVN
17285 – dPOC from 17 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: 40205 [ 40259 / 39903 ]
BNF opened with what looked like an ORR (Open Rejection Reverse) to the downside as it got rejected right from PDL as it made a high of 40247 in the A period and went on to complete the 1 ATR target of 40001 from previous day’s FA of 40668 & made a low of 39951 in the B TPO leaving an initiative selling tail in the IB.
The auction then made an expected contra move in the C side where it left a PBH at 40125 which was followed by a RE lower in the D period where it went below 17th Oct’s Spike low of 39947 but could only manage 39903 as the sellers were unable to sustain below the September VWAP of 39910 and looked to be forming a narrow range ‘b’ shape profile for the day before giving a short covering squeeze into the close where it got above 40125 & made marginal new highs of 40259 leaving a Neutral Day with completely lower Value & the dPOC at 40050
Click here to view the latest profile in BNF on MPLite
- The BNF Open was an Open Auction Out of Range (OAOR)
- The Day type was a Neutral Day (NeuD)
- Largest volume was traded at 40422 F
- Vwap of the session was at 40069 with volumes of 40.1 L and range of 356 points as it made a High-Low of 40668-40245
- BNF confirmed a FA at 40668 on 19/10 & tagged the 1 ATR objective down of 40001 on 20/10. The 2 ATR target comes to 39334.
- BNF confirmed a FA at 39677 on 14/10 which was not only negated on 17/10 but the auction closed above it. This FA tagged the 1 ATR objective of 40425 to the upside on 18/10.
- The settlement day Roll Over point (Oct 2022) is 37890
- The VWAP & POC of Sep 2022 Series is 39910 & 40770 respectively.
- The VWAP & POC of Aug 2022 Series is 38530 & 38320 respectively.
- The VWAP & POC of Jul 2022 Series is 35427 & 35099 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 39940-40050-40125
HVNs – 38372 / 39050** / 39176
(** indicates series POC)
Business Areas for 21st Oct 2022:
Up
40247 – Selling tail (20 Oct)
40375 – Weekly POC
40465 – NeuX VWAP (19 Oct)
40581 – SOC from 19 Oct
40725 – 1 ATR from wFA of 36224
40887 – VPOC from 22 Sep
Down
40125 – SOC from 20 Oct
40050 – dPOC from 20 Oct
39940 – PBL from 20 Oct
39804 – dPOC from 17 Oct
39696 – Monthly IBH
39592 – Extension Handle (17 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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