Nifty Dec F: 18170 [ 18357 / 18112 ]
NF made a higher open and as expected got rejected from yVWAP of 18350 as it left another initiative selling tail from 18323 to 18357 along with an extension handle at 18235 and made a OTF (One Time Frame) probe lower for the first half of the day breaking below the 10th Nov Swing Low of 18125 first in the F period where it hit 18123 and once again in the H while making marginal new lows of 18112.
There was some good profit booking visible by the shorts which could be seen in the dPOC shifting lower to 18168 and this triggered a short covering bounce from the H to K TPOs as the auction went on to test the morning extension handle and was swiftly rejected leaving a PBH at 18237 before dropping down to 18140 and closing the day right at the prominent dPOC leaving a ‘b’ shape profile with completely lower Value.
Click here to view the latest profile in NF on MPLite
- The NF Open was an Open Rejection Reverse – Down (ORR)
- The Day type was a Normal Variation Day – Down (‘b’ shape profile)
- Largest volume was traded at 18168 F
- Vwap of the session was at 18202 with volumes of 111.6 L and range of 245 points as it made a High-Low of 18357-18112
- NF confirmed a FA at 18231 on 20/12 and tagged 1 ATR objective of 18396 on same day. The 2 ATR target comes to 18559. This FA got revisted on 21/12 & saw some demand coming back but was broken decisively on 22/12 & is no longer a valid reference.
- The settlement day Roll Over point (Dec 2022) is 18650
- The VWAP & POC of Nov 2022 Series is 18295 & 18335 respectively.
- The VWAP & POC of Oct 2022 Series is 17350 & 17260 respectively.
- The VWAP & POC of Sep 2022 Series is 17500 & 17643 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 18132-18168-18224
HVNs – 18645 / 18721 / 18760**
(** indicates series POC)
The weekly profile followed up last week’s Neutral Extreme imbalance close as it began the week with a gap down hitting the 1 ATR objective of 18364 from the weekly FA of 18807 and went on to make lower lows on all 5 days this week moving from a balance it was forming in the first 3 sessions with a Trend Day Down on Wednesday where it confirmed yet another weekly FA at 18519 and continued the probe lower on Thursday as it not only broke below the weekly VPOC of 18179 but almost tagged the 1 ATR objective of 18091 while making a low of 18112 and forming a ‘b’ shape daily profile whereas on the weekly, once again it formed a Neutral Extreme one to the downside with completely lower Value at 18265-18337-18454 and has very good chance of continuing the imbalance in the next session(s) with this week’s VWAP of 18333 now being the new positional reference.
Click here to view this week’s daily profiles in NF on MPLite
Business Areas for 23rd Dec 2022:
Up
18184 – Profile Anomaly (22 Dec)
18237 – PBH from 22 Dec
18270 – Weekly HVN
18323 – Selling Tail (22 Dec)
18357 – Tail High
18404 – HVN from 21 Dec
Down
18168 – dPOC from 22 Dec
18123 – Buying tail (22 Dec)
18083 – dPOC from 31 Oct
18046 – Buying Tail (31 Oct)
18000 – Tail Low
17950 – Gap Mid-point (31 Oct)
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Dec F: 42471 [ 43084/ 42330 ]
BNF also opened with a gap up but stalled right below the extension handle of 43090 & confirmed an ORR (Open Rejection Reverse) as it left an initiative selling tail till 42855 & went on to trend lower for the first half of the day hitting a low of 42331 in the F period and made a similar low of 42330 in the H also indicating that the downside is getting a bit exhausted.
The auction then gave a good bounce to 42737 in the K TPO stopping just below the closing HVN from previous session which was at 42750 and this triggered a fresh down move into the close as it went on to tag 42410 leaving a ‘b’ shape profile for the day with completely lower Value.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was an Open Rejection Reverse – Down (ORR)
- The Day type was a Normal Variation Day – Down (‘b’ shape profile)
- Largest volume was traded at 42513 F
- Vwap of the session was at 42576 with volumes of 39.8 L and range of 754 points as it made a High-Low of 43084-42330
- The settlement day Roll Over point (Dec 2022) is 43331
- The VWAP & POC of Nov 2022 Series is 42150 & 42959 respectively.
- The VWAP & POC of Oct 2022 Series is 39750 & 38950 respectively.
- The VWAP & POC of Sep 2022 Series is 39910 & 40770 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 42403-42513-42671
HVNs – 42955 / 43296** / 43412
(** indicates series POC)
BNF also continued previous week’s imbalance to the downside as sellers continued to dominate which could be seen in A period selling tails in 3 of the 5 sessions as the auction not only remained below last Thursday’s closing extension handle of 43710 but confirmed a weekly FA just below it at 43688 after forming a balance for the first 3 days triggering a massive drop of 1358 points in the last 2 sessions as it completed the 1 ATR objective of 42492 while making a low of 42330 leaving back to back Neutral Extreme Down weekly profiles with completely lower Value at 42924-43446-43662 and with VWAP at 43126 which will be the swing reference for shorts moving into the business end of this month’s expiry.
Click here to view this week’s daily profiles in BNF on MPLite
Business Areas for 23rd Dec 2022:
Up
42513 – dPOC from 22 Dec
42630 – HVN from 22 Dec
42737 – PBH from 22 Dec
42855 – Selling Tail
42696 – IB singles mid
43050 – Monthly IBL
Down
42410 – Closing PBL (22 Dec)
42310 – Buying Tail (14 Nov)
42251 – FA from 11 Nov
42150 – Nov Series VWAP
42018 – Monthly 3 IB
41922 – HVN from 10 Nov
(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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