Nifty Sep F: 17386 [ 17618 / 17355 ]
NF opened with a big gap down of 143 points giving a rare follow up to a Neutral Extreme profile as it broke below the 15th Sep Trend Day VWAP of 17477 while making a low of 17443 but gave a good bounce to 17531 in the A period itself after which it confirmed an initiative buying tail from 17492 to 17443 in the IB. The auction then made a good C side extension higher and followed it up with higher highs in the D & E periods tagging the yPOC of 17602 while making a high of 17618 but the ‘F’ TPO not only stopped the OTF (One Time Frame) probe to the upside but went on to break below VWAP affectively as it stopped right at the morning singles and made an entry into it in the ‘G’ period but was swiftly rejected giving a bounce back to the day’s VWAP in the ‘I’ period where it left a PBH (Pull Back High) at 17543 and the inability to sustain above VWAP attracted fresh & aggressive selling for the rest of the day as NF left an extension handle at 17436 & and went on to break below the HVN of 17400 and tagged the 13th Sep VPOC of 17361 leaving a second successive Neutral Extreme (NeuX) Day Down. Value was completely lower and the NeuX zone on watch for the next open would be from 17436 to 17355.
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 Neutral Extreme Day – Down (NeuX)
- Largest volume was traded at 17503 F
- Vwap of the session was at 17485 with volumes of 99.1 L and range of 263 points as it made a High-Low of 17618-17355
- The settlement day Roll Over point (September) is 16642
- The VWAP & POC of Aug Series is 16455 & 16255 respectively.
- The VWAP & POC of Jul Series is 15778 & 15820 respectively.
- The VWAP & POC of Jun Series is 15721 & 15721 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 17440-17503-17584
HVNs – 16710 / 17126 / 17316 / 17366 / 17402 / 17536
Business Areas for 21st Sep:
Up
17400 – HVN & weekly VAL
17436 – Extension handle from 20th Sep
17485 – NeuX VWAP from 20th Sep
17543 – PBH (Pull Back High) from 20th Sep
Down
17355 – NeuX zone low from 20th Sep
17306 – 5-day composite VAL (6th to 13th Sep)
17254 – Weekly 2 IB target
17224 – Singles from 03rd Sep
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Sep F: 37224 [ 37885 / 37145 ]
BNF also opened with a huge gap down of 325 points and tested the Trend Day VWAP of 37423 as it made a low of 37374 and as expected was swiftly rejected back into previous day’s range confirming an ORR (Open Rejection Reverse) start as the auction left an extension handle at 37697 along with an initiative buying tail in the IB and continued the OTF (One Time Frame) probe higher till the ‘E’ period where it made a high of 37885 but also saw range contraction happening indicating that the upside was getting exhausted just below the yPOC of 37937. The ‘F’ TPO then not only stopped the OTF move higher but broke below day’s VWAP negating the bullish open as it tested the morning singles and gave a small bounce back to 37720 where it left a PBH in the ‘I’ period signalling that the PLR (Path of Least Resistance) was now to the downside as BNF made a trending move lower for the rest of the day as it left an extension handle at 37378 and went on to take out the 16th Sep buying handles of 37249 & 37150 while making a low of 37145 leaving a Neutral Extreme profile. The extension handle of 37374 along with today’s VWAP of 37528 will be the levels to watch on the upside in the coming session(s) whereas on the downside, the auction would remain weak below 37145 for a probable test of the HVN of 36954 & the VPOC of 36785.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Rejection Reverse – Up (ORR)
- The Day type was a Neutral Extreme Day – Down (NeuX)
- Largest volume was traded at 37613 F
- Vwap of the session was at 37528 with volumes of 39.9 L and range of 740 points as it made a High-Low of 37885-37145
- BNF confirmed a FA at 38225 on 17/09 and completed the 2 ATR objective of 37299 on 20/09.
- BNF confirmed a FA at 36251 on 07/09 and tagged the 2 ATR objective of 37210 on 16/09. This FA has not been tagged in over ‘T+6’ Days and is now positional reference.
- The settlement day Roll Over point (September) is 35699
- The VWAP & POC of Aug Series is 35715 & 35616 respectively.
- The VWAP & POC of Jul Series is 35105 & 34804 respectively.
- The VWAP & POC of Jun Series is 35012 & 35070 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 37430-37613-37842
HVNs – 35840 / 36749
Business Areas for 21st Sep:
Up
37378 – Extension Handle from 20th Sep
37528 – NeuX VWAP from 20th Sep
37613 – dPOC from 20th Sep
37740 – SOC from 20th Sep
Down
37145 – NeuX lower reference from 20th Sep
36954 – HVN from 15th Sep
36836 – DD VWAP from 15th Sep
36651 – Initiative tail from 15th Sep
(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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