Nifty May F:
It was the event day & NF opened with gap up of more than 100 points and probed higher on huge volumes as it made an OTF higher for the first 3 periods extending the big IB range of 149 points to get above 12000 for the very first time as the ‘C’ period closed at highs of 12063. The ‘D’ period then made a new high of 12070 but was rejected immediately after which it got back in the IB which was a sign of weakness which got further confirmed as the auction broke below VWAP as the ‘D’ period closed at lows leaving an outside bar. Break of VWAP after such a high volume open usually leads to a test of the lows & that is what precisely happened as the auction trended lower breaking below the IBL & closed the gap as it made a low of 11811 in the ‘G’ period confirming a Neutral Profile for the day. NF then gave a retracement in the next 2 periods leaving a pull back high at 11900 but was unable to tag VWAP which meant that the PLR for the day is still to the downside and the auction made a fresh range extension lower in the ‘J’ period and spiked to the downside at close leaving an extension handle at 11759 and leaving a Neutral Extreme Day down as it made a big outside bar on the daily.
- The NF Open was a Open Auction Out of Range (OAOR)
- The day type was a Neutral Extreme Day – Down
- Largest volume was traded at 11870 F
- Vwap of the session was at 11875 with highest volumes in over 15 months at 268.9 L in a session of 430 points trading in a High-Low range of 12070-11640
- The settlement day Roll Over point is 11722
- The VWAP & POC of Apr Series is 11641 & 11592 respectively.
- The VWAP & POC of Mar Series is 11327 & 11448 respectively.
- The VWAP & POC of Feb Series is 10830 & 10856 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 11822-11870-12014
Hypos / Estimates for the next session:
a) Immediate resistance is at 11715-722 above which NF can tag 11750-759 & 11778-788
b) Staying below 11695, the auction can move to 11660-650 & 11620
c) Above 11788, the auction can move to 11811-832 & 11850
d) Below 11620, NF can fall to 11600-590 & 11550
e) If 11850 is taken out, higher levels of 11870-875 & 11900 open up
f) Break of 11550 can trigger a move lower to 11527 & 11489-467
BankNifty May F:
BNF gave a huge gap up of 300 points as it moved away from the 3 day composite on big volumes to make new life time highs and kept trending higher till the ‘D’ period as it made a high of 31780 but got immediately rejected as it got back into the IB and close below VWAP triggering a sell. The auction then trended lower till the close leaving a pull back high at 31165 to give a Neutral Extreme Down close as BNF made an outside bar on daily after tagging life time highs. The Neutral Extreme reference for the next session is at 30660 to 30332.
- The BNF Open was a Open Auction Out of Range (OAOR)
- The day type was a Neutral Extreme Day – Down
- Largest volume was traded at 31050 F
- Vwap of the session was at 31088 with highest volumes of almost 8 months at 76.4 L in a session which traded a High-Low range of 31780-30332 for a range of 1447 points
- The settlement day Roll Over point is 29760
- The VWAP & POC of Apr Series is 30037 & 29762 respectively.
- The VWAP & POC of Mar Series is 29061 & 29778 respectively.
- The VWAP & POC of Feb Series 27042 & 26978 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 30690-31050-3150>
-
Hypos / Estimates for the next session:
a) BNF staying above 30590 can do 30660-690 & 30770-806
b) Sustaining below 30575, the auction can test 30510-505 & 30400-350
c) Above 30806, BNF can probe higher to 30850-888 & 30950
d) Below 30350, BNF can fall to 30285-250 & 30200
e) If BNF sustains above 30950, the auction could tag 31030-50 / 31090-105 & 31165
f) Break of 30200 could trigger a move down to 30120-060 & 29945-880
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://in.explara.com/e/vtrender–trading–room/checkout