Nifty Feb F: 17073 [ 17145 / 16851 ]
NF opened with a huge gap down of 306 points negating the 15th Feb Extension Handle of 16980 but settled down into an OAOR as it made a narrow 138 points range IB (Initial Balance) where it tested that day’s initiative singles of 16862 but made similar lows of 16855 & 16851 indicating exhaustion to the downside.
The auction then made couple of REs (Range Extension) to the upside in the D & E periods but could only manage 17008 forcing a probe back into the IB & below the day’s VWAP but once again found the sellers doing a bad job as it left a PBL at 16879 in the H period which in turn triggered a big short covering move in the J TPO which left an extension handle at 17008 & made new highs of 17069 and continued this imbalance in the K period completing the 2 IB objective of 17128 while making a high of 17145.
NF then saw profit booking by the longs as it left a responsive selling tail from 17119 to 17145 and a retracement back to 17036 into the close leaving a second successive Normal Variation Day Up but with completely lower Value.
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 Normal Variation Day – Up (NV)
- Largest volume was traded at 16919 F
- Vwap of the session was at 16977 with volumes of 148.2 L and range of 294 points as it made a High-Low of 17145-16851
- The settlement day Roll Over point (February 2022) is 17165
- The VWAP & POC of Jan 2022 Series is 17669 & 17703 respectively.
- The VWAP & POC of Dec 2021 Series is 17169 & 17240 respectively.
- The VWAP & POC of Nov 2021 Series is 17635 & 17961 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 16860-16919-17015
HVN – 17353** / 17600
(** indicates series POC)
Business Areas for 23rd Feb 2022:
Up
17119 – Selling tail (22nd Feb)
17165 – Feb RO point
17205 – VPOC from 21st Feb
17270 – SOC from 21st Feb
17330 – VAH from 21st Feb
17359 – Weekly HVN
17424 – Selling Singles (17th Feb)
17470 – Selling Singles (16th Feb)
Down
17052 – Weekly VAL
17008 – Extension Handle (22nd Feb)
16977 – VWAP from 22nd Feb
16930 – SOC from 22nd Feb
16879 – PBL from 22nd Feb
16801 – Buying Singles (15th Feb)
16765 – 1.5 Monthly IB
16720 – Weekly 1 ATR target
16681 – Monthly 1 ATR objective
(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: 37351 [ 37639 / 36906 ]
BNF also opened with a massive gap down of 722 points but took support just above the SOC of 36886 from 15th Feb as it left an initiative buying tail in the IB and made a slow probe higher till the E period where it made a high of 37360.
The auction then reversed to the downside till the H TPO as it broke below the day’s VWAP but could only leave a PBL at 37046 triggering a quick short covering move in the J & K periods as it got into the 3-day composite Value & almost tagged the composite VWAP of 37668 while making a high of 37639 but left a responsive selling tail till 37548 and got back to 37290 into the close leaving a 3-1-3 profile for the day with completely lower Value.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Auction Out of Range (OAOR)
- The Day type was a Normal Variation Day – Up (NV)
- Largest volume was traded at 37130 F
- Vwap of the session was at 37243 with volumes of 46.8 L and range of 732 points as it made a High-Low of 37639-36906
- BNF confirmed a FA at 38475 on 16/02 and tagged the 1 ATR objective of 37593 on 17/02. The 2 ATR target comes to 36711. This FA is on ‘T+5’ Days.
- BNF confirmed a FA at 36647 on 15/02 and tagged the 2 ATR objective of 38371 on 16/02. This FA is on ‘T+6’ Days.
- BNF confirmed a multi-day FA at 38826 on 14/02 and tagged the 2 ATR objective of 37155 on the same day. This FA has not been tagged and is now a positional reference.
- BNF confirmed a FA at 39540 on 03/02 and tagged the 2 ATR objective of 38067 on 07/02. This FA has not been tagged and is now a positional reference.
- The settlement day Roll Over point (February 2022) is 38240
- The VWAP & POC of Jan 2022 Series is 37772 & 38232 respectively.
- The VWAP & POC of Dec 2021 Series is 36082 & 35100 respectively.
- The VWAP & POC of Nov 2021 Series is 38047 & 39404 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 37007-37130-37356
HVN – 38075** / 38705 / 39270
(** indicates series POC)
Business Areas for 23rd Feb 2022:
Up
37356 – VAH from 22nd Feb
37548 – Selling Singles (22nd Feb)
37712 – VPOC from 21st Feb
37888 – HVN from 21st Feb
38041 – PBH from 21st Feb
38112 – VWAP from 16th Feb
38237 – VAH from 16th Feb
38385 – Selling singles (16th Feb)
Down
37290 – closing PBL (22nd Feb)
37130 – dPOC from 22nd Feb
36982 – Buying singles
36886 – SOC from 15th Feb
36711 – 2 ATR from 38475
36554 – Daily Swing Low (24th Jan)
36478 – Extension Handle (03rd Jan)
36346 – Weekly 1 ATR target
(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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