Nifty May F: 16183 [ 16398 / 16152 ]
NF probed above the spike zone of 16234 to 16275 at open but was swiftly rejected from 16338 after a test of 18th May PBH of 16325 after which it broke below the spike lows & got into Friday’s Value while making a low of 16185 but here also faced rejection leaving a relatively big range of 153 points in the IB (Initial Balance) with tails at both ends.
The auction then retained the buying singles and went on to form a ‘p’ shape profile for the day with small REs to the upside in the E & G TPOs but could not sustain leaving an outside bar in the latter and made one more final attempt to extend higher in the I period as it made new highs of 16398 but left a responsive selling tail of 30 points and broke below the G period lows & the day’s VWAP in the J TPO triggering a big liquidation break into the close as NF left couple of SOCs (Scene Of Crime) at 16310 & 16255 and went on to tag the yPOC of 16152 leaving a NeuX (Neutral Extreme) Day Down though Value was mostly higher.
Click here to view the latest profile in NF on MPLite
- The NF Open was an Open Auction (OA)
- The Day type was a Neutral Extreme Day – Down (NeuX)
- Largest volume was traded at 16348 F
- Vwap of the session was at 16279 with volumes of 124.3 L and range of 246 points as it made a High-Low of 16398-16152
- NF confirmed a FA at 16495 on 06/05 and tagged the 2 ATR objective of 16004 on 11/05. This FA has not been tagged & is now a positional reference.
- NF confirmed a FA at 16980 on 05/05 and tagged the 2 ATR objective of 16513 on 06/05. This FA has not been tagged & is now a positional reference.
- The settlement day Roll Over point (May 2022) is 17265
- The VWAP & POC of Apr 2022 Series is 17430 & 17145 respectively.
- The VWAP & POC of Mar 2022 Series is 16753 & 17255 respectively.
- The VWAP & POC of Feb 2022 Series is 17183 & 17409 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 16233-16348-16370
HVNs – 15853 / 16225** / 16321 / 16429 / 16984
(** indicates series POC)
Business Areas for 24th May 2022:
Up
16185 – NeuX high (23rd May)
16232 – Weekly POC
16279 – NeuX VWAP (23rd May)
16310 – SOC from 23rd May
16368 – Selling singles (23rd May)
16433 – VPOC from 06th May
16495 – FA from 06th May
Down
16152 – NeuX low (23rd May)
16098 – Buying Singles (20th May)
16033 – IB Singles Mid-point
15979 – Weekly IBH
15933 – Singles Mid-point
15879 – Gap Mid-point
15844 – VWAP from 19th May
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty May F: 34191 [ 34815 / 34072 ]
BNF made a strong start right above the weekly POC of 34264 and went on to scale above previous week’s high of 34620 in the IB as it left a long buying tail from 34482 to 34265 indicating that the PLR (Path of Least Resistance) was to the upside.
The auction then made multiple REs to the upside as it not only got above the weekly VPOC of 34648 but went on to tag the multi-day FA of 34797 from 11th May as it hit 34815 in the I period stopping just below the 06th May FA of 34833 signalling that the sellers were coming back in this zone which got confirmed in form of a selling tail from 34760 to 34815 as BNF got back into the old 4-day composite Value (6th to 11th May) and the break of day’s VWAP helped in completing the 80% Rule in that composite in the J TPO itself after which it left an extension handle at 34265 and went on to make a low of 34072 into the close tagging the yVWAP and thus leaving a NeuX Day Down after reacting from a positional supply zone.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was an Open Auction (OA)
- The Day type was a Neutral Extreme Day – Down (NeuX)
- Largest volume was traded at 34696 F
- Vwap of the session was at 34489 with volumes of 42.9 L and range of 744 points as it made a High-Low of 34815-34072
- BNF confirmed a multi-day FA at 34797 on 12/05 and tagged the 2 ATR objective of 33527 on the same day. This FA was tagged on 23/05 but saw supply coming back triggering a reversal back to 34072 validating the positional reference.
- BNF confirmed a FA at 34834 on 06/05 and tagged the 2 ATR objective of 33472 on 12/05. This FA has not been tagged & is now a positional reference.
- The settlement day Roll Over point (May 2022) is 36515
- The VWAP & POC of Apr 2022 Series is 37090 & 36386 respectively.
- The VWAP & POC of Mar 2022 Series is 34992 & 35648 respectively.
- The VWAP & POC of Feb 2022 Series is 37712 & 37712 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 34366-34696-34763
HVNs – 34643** / 35931 / 36120
(** indicates series POC)
Business Areas for 24th May 2022:
Up
34226 – Selling singles (23rd May)
34359 – HVN from 23rd May
34489 – NeuX VWAP (23rd May)
34606 – SOC from 23rd May
34760 – Selling singles (23rd May)
34833 – FA from 06th May
35032 – Singles mid-point
35162 – Weekly mid-profile singles
Down
34160 – Buying singles (23rd May)
34053 – VPOC from 20th May
33911 – Buying Singles (20th May)
33758 – IB Singles Mid-point
33592 – Singles Mid-point
33447 – Gap Mid-point
33317 – Closing PBH (19th May)
33168 – Buying singles (19th May)
(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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