Nifty Dec F: 17078 [ 17150 / 17040 ]
NF continued previous day’s imbalance to the upside with a rare follow up to a Neutral Extreme profile as it opened right at the 1 ATR target of 17076 from the FA (Failed Auction) of 16832 and scaled above 17th Dec VWAP of 17094 making a high of 17124 in the IB (Initial Balance) stalling just below the PBH of 17128. The auction then remained in this narrow 78 point range with an attempt to probe lower in the E period getting rejected as it made new lows of 17040 which inturn led to a swipe above IBH in the I period as NF probed above 17128 and made new highs of 17150 but was once again swiftly rejected from just below 17152 which was the A period extension handle from 17th Dec as it left a responsive selling tail till 17124 and got back into the IB forming a balanced profile for the day with completely higher Value but on reduced range & volumes suggesting poor trade facilitation and could be the end of this upmove unless we get fresh demand in the coming session which negates today’s singles at top.
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 Neutral Day (NeuD)
- Largest volume was traded at 17101 F
- Vwap of the session was at 17086 with volumes of 78.7 L and range of 110 points as it made a High-Low of 17150-17040
- NF confirmed a FA at 16832 on 22/12 and tagged the 1 ATR objective of 17076 on 23/12. The 2 ATR target comes to 17321.
- The settlement day Roll Over point (December) is 17600
- The VWAP & POC of Nov Series is 17635 & 17961 respectively.
- The VWAP & POC of Oct Series is 18036 & 18155 respectively.
- The VWAP & POC of Sep Series is 17519 & 17365 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 17063-17101-17108
HVNs – 17100 / 17198 / 17294 / 17533
Business Areas for 24th Dec:
Up
17086 – NeuD VWAP from 23rd Dec
17124 – Selling Singles from 23rd Dec
17152 – Extension Handle from 23rd Dec
17178 – Selling singles from 07th Dec
17213 – A TPO VWAP from 17th Dec
17260 – VAL of 3-day composite (14th to 16th Dec)
17304 – 3-day composite VPOC
17349 – VAH of 3-day composite
Down
17076 – HVN from 23rd Dec
17047 – Buying singles from 23rd Dec
17010 – Singles mid-point
16979 – VPOC from 22nd Dec
16940 – Extension Handle from 22nd Dec
16894 – HVN from 22nd Dec
16862 – PBL (Pull Back Low) from 22nd Dec
16809 – VPOC from 21st Dec
(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: 35208 [ 35550 / 35090 ]
BNF also opened with a big gap up of almost 300 points but stalled right at the 1 ATR target of 35408 from the FA of 34746 and settled down into an OAOR (Open Auction Out of Range) forming a very narrow IB range of just 229 points and for the second consecutive day made the dreaded C side extension lower as it made new lows for the day at 35142. This entry into previous day’s range was swiftly rejected back as the auction went on to confirm another FA making multiple REs higher in the G, H & I TPOs completing the 1.5 IB objective of 35524 which was also the Gap Down mid-point of 20th Dec and left a small responsive selling tail at the top indicating presence of supply and this triggered a big liquidation move resulting in new lows of 35090 in the closing minutes leaving a Neutral Extreme Day Down though Value was completely higher.
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 Neutral Extreme Day – Down (NeuX)
- Largest volume was traded at 35288 F
- Vwap of the session was at 35317 with volumes of 37.1 L and range of 460 points as it made a High-Low of 35550-35090
- BNF confirmed a FA at 34746 on 22/12 and tagged the 1 ATR objectiveof 35408 on 23/12. The 2 ATR target comes to 36069.
- The settlement day Roll Over point (December) is 37555
- The VWAP & POC of Nov Series is 38047 & 39404 respectively.
- The VWAP & POC of Oct Series is 39368 & 41157 respectively.
- The VWAP & POC of Sep Series is 37210 & 36633 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 35182-35288-35413
HVNs – 36246 / 36425 / 37044 / 37750
Business Areas for 24th Dec:
Up
35288 – dPOC from 23rd Dec
35507 – Selling singles from 23rd Dec
35712 – 1 ATR weekly objective
35835 – Extension Handle from 17th Dec
35998 – VPOC from 17th Dec
36069 – 2 ATR from FA of 34746
36198 – Extension Handle from 17th Dec
Down
35143 – Buying singles from 23rd Dec
34979 – 2-day composite VPOC (21st-22nd Dec)
34807 – 2-day composite VAL
34576 – Buying singles from 21st Dec
34425 – HVN from 20th Dec
34290 – LVN from 20th Dec
34190 – Buying singles from 20th Dec
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
For more tradeable ideas and intraday trading strategies based on MarketProfile and the OrderFlow live charts with OrderFlow analysis Live, subscribe to the trading room. The Vtrender Trading Room hosts India’s largest MarketProfile community live every trading session from 9.15 am to 3.30 pm.
If not a Trading Room member you can get immediate access at – https://www.explara.com/e/vtrendertradingroomlive
