Nifty Feb F: 17567 [ 17795 / 17532 ]
A Neutral Centre profile is most of the times followed by a trending move & today was no different as not only NF opened lower but left an initiative selling tail from 17720 to 17795 in the IB (Initial Balance) and made an OTF (One Time Frame) probe lower for most part of the day breaking below the important weekly VPOC of 17680 as it went on to negate the 03rd Feb Buying Tail of 17641 in the first half of the day.
The sellers then left an extension handle at 17615 in the second half with the auction getting into the 02nd Feb Buying Tail from 17576 to 17522 and making a low of 17532 which saw some profit booking coming in giving a bounce back to 17603 before closing the day at 17567 leaving a Trend Day Down.
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 Trend Day – Down (TD)
- Largest volume was traded at 17670 F
- Vwap of the session was at 17645 with volumes of 75.7 L and range of 262 points as it made a High-Low of 17795-17532
- The settlement day Roll Over point (Feb 2023) is 17985
- The VWAP & POC of Jan 2023 Series is 17923 & 18132 respectively.
- The VWAP & POC of Dec 2022 Series is 18337 & 18584 respectively.
- The VWAP & POC of Nov 2022 Series is 18295 & 18335 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 17565-17670-17699
HVNs – 17676 / 17796 / 17880** / 18240
(** indicates series POC)
Business Areas for 23rd Feb 2023:
Up
17576 – LVN from 22 Feb
17615 – Extension Handle (22 Feb)
17645 – VWAP from 22 Feb
17687 – PBH from 22 Feb
17720 – Selling Tail (22 Feb)
17780 – Singles mid (22 Feb)
Down
17564 – Closing HVN (22 Feb)
17522 – Monthly IBL
17472 – Previous Day Low
17440 – PBL from 20 Oct
17394 – Buying Tail (20 Oct)
17350 – Oct Series VWAP
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Feb F: 40038 [ 40584/ 39920 ]
BNF signalled the move away from balance with a gap down open with the entry into previous day’s range getting swiftly rejected which confirmed an ORR (Open Rejection Reverse) to the downside as it not only left an A period selling tail from 40417 to 40584 but confirmed a rare C side extension handle at 40356 and followed it with another one at 40290 triggering a trending move down as it swiped through the 02nd Feb Buying Tail & made a low of 39920 in the K period.
The auction then saw some profit booking which inturn led to a small bounce back to 40162 in the L TPO before settling down at 40038 at the close leaving an elongated Trend Day Down profile 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 Trend Day – Down (TD)
- Largest volume was traded at 40149 F
- Vwap of the session was at 40211 with volumes of 40.2 L and range of 665 points as it made a High-Low of 40584-39920
- The settlement day Roll Over point (Feb 2023) is 41864
- The VWAP & POC of Jan 2023 Series is 41965 & 42320 respectively.
- The VWAP & POC of Dec 2022 Series is 43030 & 43128 respectively.
- The VWAP & POC of Nov 2022 Series is 42150 & 42959 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 39920-40149-40223
HVNs – 40600 / 40726 / 41482** / 41650 / 42115
(** indicates series POC)
Business Areas for 23rd Feb 2023:
Up
40077 – LVN from 22 Feb
40211 – VWAP from 22 Feb
40356 – Extension Handle (22 Feb)
40500 – IB singles mid (22 Feb)
40669 – VPOC from 21 Feb
40751 – VWAP from 21 Feb
Down
40014 – HVN from 22 Feb
39927 – Buying tail (30 Jan)
39718 – 01 Feb Swing Low
39592 – Extension Handle (17 Oct)
39441 – Buying Tail (17 Oct)
39332 – IB singles mid (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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