Nifty Jun F: 15573 [ 15629 / 15360 ]
NF gave an OTD (Open Test Drive) start on low volumes as it opened slightly higher & took support right above the yPOC of 15405 to give a trending move higher of 198 points in the IB as it made a high of 15604 scaling above the Gap Mid-point reference of 15595 from yesterday after which the auction made couple of small REs (Range Extension) in the C & D periods but could only manage marginal new highs of 15629 indicating exhaustion creeping in on the upside.
The break of the day’s VWAP for the first time in the F TPO then triggered a big long liquidation drop till the H period as NF negated the morning singles & went on to make new lows for the day at 15360 taking support just above PDL (Previous Day Low) & this failure to give a meaningful extension on the downside meant that the late sellers got trapped which inturn led to a short covering bounce to 15598 into the close with the auction forming a Neutral Centre Day with completely higher Value.
Click here to view the latest profile in NF on MPLite
- The NF Open was an Open Test Drive – Up (OTD)
- The Day type was a Neutral Centre Day (NeuC)
- Largest volume was traded at 15577 F
- Vwap of the session was at 15518 with volumes of 168 L and range of 269 points as it made a High-Low of 15629-15360
- The settlement day Roll Over point (Jun 2022) is 16180
- The VWAP & POC of May 2022 Series is 16270 & 16340 respectively.
- The VWAP & POC of Apr 2022 Series is 17430 & 17145 respectively.
- The VWAP & POC of Mar 2022 Series is 16753 & 17255 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 15490-15577-15614
HVNs – 15740 / 16070 / 16309 / 16566** / 16621
(** indicates series POC)
Business Areas for 24th Jun 2022:
Up
15577 – dPOC from 23rd Jun
15623 – Selling singles (23rd Jun)
15689 – VPOC from 21st Jun
15740 – Weekly VPOC
15795 – Extension Handle (16th Jun)
15838 – 1 ATR from weekly FA of 15202
15885 – Mid-point of IB singles
15948 – Selling tail top (13th Jun)
Down
15548 – LVN from 23rd Jun
15483 – PBL from 23rd Jun
15440 – SOC from 23rd Jun
15389 – 3-day comp VAL
15346 – 2-day comp VAH (17th to 20th Jun)
15297 – 2-day comp VPOC
15254 – PBL from 20th Jun
15202 – Weekly FA
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Jun F: 33187 [ 33445 / 32656 ]
BNF also made an OTD start on just about average volumes as it moved away from the yPOC of 32895 after making a low of 32839 and made a trending move higher in the IB forming a large range of 606 points to tag 33445 stalling just below previous week’s POC of 33452.
The auction then displayed exhaustion to the upside as remained inside a narrow range in the C & D periods and this failure to extend higher inspite of the strong open led to a big liquidation break from the E TPO onwards as BNF broke below the day’s VWAP and not only negated the initaitive buying tail of morning but went on to make a good RE to the downside in the H period where it tagged the 20th Jun VPOC of 32727 & made new lows for the day at 32656 taking support just above the 2-day composite VAL of 32641 marking the end of the probe lower.
BNF then retraced the entire fall from the E period almost revisiting the SOC (Scene Of Crime) at 33325 into the close leaving a Normal Variation Day Down with overlapping to higher Value.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was an Open Test Drive – Up (OTD)
- The Day type was a Normal Variation Day – Down (Outside Bar)
- Largest volume was traded at 33140 F
- Vwap of the session was at 33113 with volumes of 58.5 L and range of 789 points as it made a High-Low of 33445-32656
- BNF confirmed a multi-day FA at 32447 on 21/06 and tagged the 2 ATR objective of 33531 on the same day.
- BNF confirmed a FA at 34735 on 09/06 which got negated on 10/06 and tagged the 2 ATR objective of 33677 on the downside on 13/06.
- BNF has confirmed a FA at 36132 on 30/05 and tagged the 2 ATR objective of 34793 on 09/06. This FA has not been tagged and is now a positional reference.
- The settlement day Roll Over point (Jun 2022) is 35250
- The VWAP & POC of May 2022 Series is 34570 & 34477 respectively.
- The VWAP & POC of Apr 2022 Series is 37090 & 36386 respectively.
- The VWAP & POC of Mar 2022 Series is 34992 & 35648 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 32847-33140-33323
HVNs – 33385** / 34710 / 35628 / 35854
(** indicates series POC)
Business Areas for 24th Jun 2022:
Up
33325 – SOC from 23rd Jun
33437 – Selling singles
33525 – SOC from 21st Jun
33678 – Selling singles (16th Jun)
33798 – Daily Swing High (16th Jun)
33923 – Weekly ATR objective
34023 – Weekly 3 IB target
34152 – Weekly HVN
Down
33140 – dPOC from 23rd Jun
32955 – PBL from 23rd Jun
32770 – SOC from 23rd Jun
32675 – Buying singles
32587 – Weekly VAL
32497 – Buying Singles (20th Jun)
32335 – Weekly IBL
32176 – 1 ATR from VPOC of 32727
(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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