Nifty Jul F: 15817 [ 15829 / 15700 ]
NF opened with a gap up well above the upside reference of 15685 and contiued to drive higher as it tagged the VPOC of 15757 in the A period & left an extension handle right there to continue an OTF (One Time Frame) probe till the ‘F’ period making multiple REs (Range Extension) where it tagged the upper HVN of 19th July’s DD profile which was at 15820 but could not take out the poor highs of that day as the auction made a high of 15829. This sign of exhaustion then led to a retracement lower over the next 5 periods as NF got back into the IB and even broke below day’s VWAP late in the ‘K’ period but was immediately rejected as the morning buyers were seen defending it with a PBL (Pull Back Low) at 15771 and went on to hit 15824 into the close with the dPOC also shifting higher right near that earlier HVN of 15820 leaving a ‘p’ shape profile for the day. Value was completely higher but the auction will need to scale above 15853 & sustain for a probe towards the higher VPOC of 15937 whereas staying below 15820, it could test today’s buying singles of 15751 to 15700.
- The NF Open was a Open Drive – Up (OD)
- The Day type was a Normal Day (‘p’ shape profile)
- Largest volume was traded at 15819 F
- Vwap of the session was at 15785 with volumes of 74.4 L and range of 129 points as it made a High-Low of 15829-15700
- The settlement day Roll Over point (July) is 15840
- The VWAP & POC of Jun Series is 15721 & 15721 respectively.
- The VWAP & POC of May Series is 14945 & 15094 respectively.
- The VWAP & POC of Apr Series is 14576 & 14375 respectively.
- Value zones (volume profile) are at 15775-15819-15824
HVNs – 15720 / 15817
BankNifty Jul F: 34725 [ 35049 / 34600 ]
BNF opened higher and took support just above the PBH of 34681 as it made a low of 34687 triggering a short covering squeeze in the IB as the auction negated previous session’s selling tail while leaving a buying tail and went on to make couple of REs to the upside in the ‘C’ & ‘D’ periods looking set to tag the VPOC of 35106 but formed similar highs of 35049 in the ‘E’ period followed by a narrow range inside bar in the ‘F’ period confirming exhaustion on the upside. The auction then made an OTF (One Time Frame) probe to the downside as the sellers took control and were successful in making new lows for the day in the ‘K’ period and seemed it was headed for a Neutral Extreme Day as it made a lower low of 34600 in the ‘L’ period but stopped just short of the yPOC of 34568 giving a small bounce to 34755 into the close. Value for the day was completely higher but the close was below it which means BNF is stuck between 34568 & dPOC of 34935 and will need to take one of them out on initiative volumes for a fresh imbalance to begin.
- The BNF Open was a Open Auction In Range (OAIR)
- The Day type was a Neutral Day (NeuD)
- Largest volume was traded at 34935 F
- Vwap of the session was at 34844 with volumes of 38.6 L and range of 449 points as it made a High-Low of 35049-34600
- The settlement day Roll Over point (July) is 35000
- The VWAP & POC of Jun Series is 35012 & 35070 respectively.
- The VWAP & POC of May Series is 33568 & 34828 respectively.
- The VWAP & POC of Apr Series is 33260 & 32490 respectively.
- Value zones (volume profile) are at 34773-34935-35044
HVNs – 34902 / 35276 / 35742
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