Nifty Jun F: 15696 [ 15835 / 15677 ]
NF opened right at the top of the Neutral Extreme zone of 15751 to 15792 and probed higher but got rejected from yesterday’s VWAP of 15828 and left a small selling tail in the IB (Initial Balance) after which it made a big C side extension making a low of 15720 tagging the 3-day composite POC of 15726 and giving a quick bounce back to 15796 in the ‘D’ period. The auction however could not sustain above 15792 and made a slow probe lower even making couple of fresh REs in the ‘H’ & ‘I’ periods as it made new lows for the day at 15705 and gave the second quick bounce of the day to 15795 in the ‘J’ period confirming a PBH (Pull Back High) there and started a fresh leg lower for the rest of the day testing the 21st June’s extension handle of 15699 and also completing the 2 IB target of 15679 as it made lows of 15677 before closing the day at 15696. The dPOC also shifted lower to 15700 which would be the immediate reference on the upside for the next open apart from today’s HVNs of 15744 & 15775 whereas on the downside, 15661 would be the first support below which NF could test 15613.
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- The NF Open was a Open Auction In Range (OAIR)
- The Day type was a Normal Variation Day – Down (NV)
- Largest volume was traded at 15700 F
- Vwap of the session was at 15752 with volumes of 76.7 L and range of 158 points as it made a High-Low of 15835-15677
- NF confirmed a multi-day FA at 15909 on 16/06 and tagged the 2 ATR objective of 15666 on 17/06. This FA has not been tagged in ‘T+6’ Days and is now positional supply point.
- NF confirmed a FA at 15502 on 02/06 and tagged the 2 ATR target of 15793 on 07/06. This FA got tagged on 18/06 and gave a good bounce of more than 200 points validating the support.
- The settlement day Roll Over point (June) is 15396
- The VWAP & POC of May Series is 14945 & 15094 respectively.
- The VWAP & POC of Apr Series is 14576 & 14375 respectively.
- The VWAP & POC of Mar Series is 14816 & 14737 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 15682-15700-15775
HVNs – 15277 / 15458 / 15578 / 15686 / 15722*
BankNifty Jun F: 34612 [ 34972 / 34555 ]
BNF opened with a gap up much above the NeuX zone of 34719 to 34822 but got rejected right below yesterday’s Value as it made a high of 34972 in the opening minutes & left a small initiative selling tail in the IB after which it formed a ‘b’ shape profile for the day staying in a narrow range of just 417 points and tested the higher extension handle of 34520 (21st June) while making a low of 34555 before closing the day around the weekly HVN of 34601 which will be the immediate reference for the next open. Value for the day was completely lower so the PLR remains down for a probe towards the 2 ATR objective of 34186 from the FA of 35287 but has 21st June’s first extension handle of 34410 & the daily HVN of 34344 as minor references in between.
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- The BNF Open was a Open Auction In Range (OAIR)
- The Day type was a Normal Variation Day – Down (NV)
- Largest volume was traded at 34815 F
- Vwap of the session was at 34756 with volumes of 32.2 L and range of 417 points as it made a High-Low of 34972-34555
- BNF confirmed a FA at 35287 on 22/06 and tagged the 1 ATR objective of 34736 on the same day. The 2 ATR target comes to 34186.
- The settlement day Roll Over point (June) is 35380
- The VWAP & POC of May Series is 33568 & 34828 respectively.
- The VWAP & POC of Apr Series is 33260 & 32490 respectively.
- The VWAP & POC of Mar Series is 34618 & 33870 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 34682-34815-34888
HVNs – 34778 / 35239* / 35472 / 35616
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