Nifty Mar F: 17272 [ 17464 / 17220 ]
NF gave a rare follow up to a NeuX profile opening with a gap up right at the 17th Feb HVN of 17447 but stalled just below that day’s PBH of 17475 as it made a high of 17464 and reversed the probe to the downside for most part of the day leaving a small initiative selling tail from 17433 to 17464.
The auction left the first PBH of the day at 17410 in the D period and this rejection from day’s VWAP led to a trending move lower till the J TPO as NF not only broke below yesterday’s HVN of 17326 but went on to test the mid-profile singles of 17265 to 17213 and in the process completed the 2 IB objective of 17246 but took support just above the NeuX VWAP of 17217 which marked the end of the downside for the day.
The K period then saw a short covering bounce above VWAP but once again was rejected leaving the second PBH of the day at 17347 before settling down to close around the dPOC of 17268 forming a Normal Variation Day with completely higher Value.
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 Normal Variation Day – Down (NV)
- Largest volume was traded at 17268 F
- Vwap of the session was at 17332 with volumes of 109.7 L and range of 244 points as it made a High-Low of 17464-17220
- NF confirmed a FA at 17051 on 22/03 and tagged the 1 ATR objective of 17351 on the same day. The 2 ATR objective comes to 17650.
- NF confirmed a FA at 16856 on 16/03 and tagged the 1 ATR objective of 17182 on 17/03. The 2 ATR objective comes to 17508. This FA is currently on ‘T+5’ Days.
- The settlement day Roll Over point (March 2022) is 16251
- The VWAP & POC of Feb 2022 Series is 17183 & 17409 respectively.
- The VWAP & POC of Jan 2022 Series is 17669 & 17703 respectively.
- The VWAP & POC of Dec 2021 Series is 17169 & 17240 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 17246-17268-17379
HVN – 16648
(** indicates series POC)
Business Areas for 24th Mar 2022:
Up
17288 – HVN from 23rd Mar
17332 – VWAP from 23rd Mar
17376 – LVN from 23rd Mar
17410 – PBH from 23rd Mar
17447 – HVN from 17th Feb
17475 – PBH from 17th Feb
17523 – Selling singles (16th Feb)
17558 – 1 ATR from 17268
Down
17268 – dPOC from 23rd Mar
17213 – Extension Handle (22nd Mar)
17175 – Extension Handle (22nd Mar)
17143 – Weekly IBL
17102 – dPOC from 22nd Mar
17051 – Daily Extension Handle
17019 – Weekly 1.5 IB target
16979 – Extension Handle (16th Mar)
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Mar F: 36205 [ 36858 / 36113 ]
BNF also opened higher giving a rare follow through to a NeuX Day as it opened and tested the 24th Feb Selling tail of 36841 but could not sustain and left an initiative selling tail in the IB (Initial Balance) from 36738 to 36858 to set up the day’s Trend to the downside.
The auction made multiple REs (Range Extension) lower not only closing the gap up open but tahhed the yPOC of 36369 and even completed the 2 IB objective of 36160 while making a low of 36113 in the J period stopping just above the extension handle of 36040 from previous session.
BNF gave a bounce back to the day’s VWAP in the K TPO but left a PBH at 36390 and made a close just below the dPOC of 36254 leaving a Normal Variation Day Down with Value completely inside.
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 Normal Variation Day – Down (NV)
- Largest volume was traded at 36254 F
- Vwap of the session was at 36424 with volumes of 54.1 L and range of 745 points as it made a High-Low of 36858-36113
- BNF confirmed a FA at 35475 on 22/03 and tagged the 1 ATR objective of 36328 on the same day. The 2 ATR objective comes to 37182.
- The settlement day Roll Over point (March 2022) is 35296
- The VWAP & POC of Feb 2022 Series is 37712 & 37712 respectively.
- The VWAP & POC of Jan 2022 Series is 37772 & 38232 respectively.
- The VWAP & POC of Dec 2021 Series is 36082 & 35100 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 36137-36254-36535
HVNs – 34561 / 34897 / 35070 / 35280 / 36451**
(** indicates series POC)
Business Areas for 24th Mar 2022:
Up
36254 – dPOC from 23rd Mar
36390 – PBH from 23rd Mar
36495 – PBH from 23rd Mar
36612 – PBH from 23rd Mar
36738 – Selling Singles (23rd Mar)
36929 – Weekly 1.5 IB
37034 – Gap Mid-point
37125 – 1 ATR from 36254
Down
36139 – Buying tail (23rd Mar)
36040 – Extension Handle (22nd Mar)
35941 – Weekly IBL
35762 – SOC from 22nd Mar
35650 – HVN from 22nd Mar
35475 – FA from 22nd Mar
35383 – 1 ATR from 36254
35275 – Gap Mid-point (16th Mar)
(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
