Nifty Aug F: 17585 [ 17644 / 17383 ]
NF opened with another gap down in continuation of previous session’s spike close & made a low of 17383 in the opening minutes as it took support just above 05th Aug’s buying singles from 17377 and saw big demand coming back resulting in a probe back into yesterday’s range & value confiming an ORR (Open Rejection Reverse) as it went on to tag the yPOC of 17573 while making a high of 17598 in the B period leaving a big 215 point range.
The auction however could not sustain above 17573 as the morning buyers booked out & left a responsive selling tail after which the break of day’s VWAP led to similar lows of 17421 & 17416 in the C & D periods. NF remained in the C period range forming a 3-1-3 profile for the day till the G TPO before it got into the selling singles in H and went on to make a small RE (Range Extension) to the upside in the J period where it hit new highs for the day at 17618.
The K & L periods then gave a retracement as auction left a PBL right at the day’s VWAP of 17525 and this triggered a big short covering squeeze into the close causing a spike from 17618 to 17644 with the day being a Normal One (3-1-3 profile) with an overlapping POC at 17573.
Click here to view the latest profile in NF on MPLite
- The NF Open was an Open Rejection Reverse – Up (ORR)
- The Day type was a Normal Day (‘3-1-3’ profile with a spike close)
- Largest volume was traded at 17573 F
- Vwap of the session was at 17525 with volumes of 132.3 L and range of 260 points as it made a High-Low of 17644-17383
- NF confirmed a FA at 17858 on 18/08. This FA got negated on 19/08 & and went on to tag the 2 ATR downside objective of 17519 on 22/08.
- NF confirmed a FA at 17055 on 29/07 and tagged the 2 ATR objective of 17364 on the 01/08. This FA has not been tagged & is now positional reference.
- The settlement day Roll Over point (Aug 2022) is 16963
- The VWAP & POC of Jul 2022 Series is 16556 & 15976 respectively.
- The VWAP & POC of Jun 2022 Series is 15895 & 15793 respectively.
- The VWAP & POC of May 2022 Series is 16270 & 16340 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 17468-17573-17607
HVNs -17128 / 17320 / 17460 / 17548** / 17712 / 17952
(** indicates series POC)
Business Areas for 24th Aug 2022:
Up
17618 – Spike Low (23 Aug)
17666 – IB singles mid-point
17724 – Gap Mid-point
17780 – HVN from 19 Aug
17829 – VWAP from 19 Aug
17861 – Extension Handle
Down
17573 – dPOC from 23 Aug
17525 – VWAP from 23 Aug
17450 – PBL from 23 Aug
17416 – Buying Singles (23 Aug)
17363 – Weekly FA
17320 – Weekly VPOC
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Aug F: 38776 [ 38918 / 38000 ]
BNF also opened with a gap down of more than 200 points & went on to negate the higher extension handle of 38064 from 08th Aug but held just above the first one of 37998 as it made a low of 38000 and got the aggressive buyers from that day to return which triggered a huge 610 point range IB.
The auction expectedly met with supply again in yesterday’s selling tail from 38526 to 38817 and made a probe below VWAP in the C & D periods where it left a PBL at 38217 and formed a balance till the H TPO before making a RE to the upside in the I which triggered a short covering squeeze from 38713 to 38918 into the close as BNF formed an Oustide Day both in terms of range & value with the Spike Zone being the reference for the next open.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was an Open Rejection Reverse – Up (ORR)
- The Day type was a Normal Variation Day – Up (Outside Bar & a Spike close)
- Largest volume was traded at 38294 F
- Vwap of the session was at 38469 with volumes of 43.4 L and range of 918 points as it made a High-Low of 38918-38000
- BNF confirmed a FA at 39330 on 18/08 and tagged the 1 ATR objective of 39776 on the same day. This FA got negated on 19/08 & the auction went on to tag the 2 ATR downside level of 38438 on 22/08.
- The settlement day Roll Over point (Aug 2022) is 37434
- The VWAP & POC of Jul 2022 Series is 35427 & 35099 respectively.
- The VWAP & POC of Jun 2022 Series is 33969 & 33498 respectively.
- The VWAP & POC of May 2022 Series is 34570 & 34477 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 38228-38294-38632
HVNs – 36325 / 37576 / 37912** / 38304
(** indicates series POC)
Business Areas for 24th Aug 2022:
Up
38824 – M TPO VWAP (23 Aug)
38970 – Closing HVN (19 Aug)
39041 – VPOC from 19 Aug
39211 – VWAP from 19 Aug
39321 – Mid-profile singles
39425 – Mid-point of above
39530 – Extension Handle (19 Aug)
Down
38713 – Spike Low (23 Aug)
38623 – HVN from 23 Aug
38469 – VWAP from 23 Aug
38367 – LVN from 23 Aug
38230 – PBL (23 Aug)
38108 – Mid-point of IB singles
37971 – Buying Singles (08 Aug)
(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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