Nifty Nov F: 17495 [ 17550 / 17250 ]
NF continued the previous day’s imbalance to the downside at open as it made new lows of 17250 in the opening minutes but was swiftly rejected back confirming an ORR (Open Rejection Reverse) start and left a long initiative buying tail from 17350 to 17250 in the IB (Initial Balance) where it made a high of 17441 and went on to make multiple REs (Range Extension) to the upside scaling above the important reference of 17522 while making a high of 17550 before closing the day just below the dPOC of 17507 leaving a ‘p’ shape profile with completely inside Value. Today’s VWAP of 17436 along with the start of the buying singles from 17350 will be the important levels to watch on the downside in the coming session(s) whereas the auction would need to stay above today’s POC for a test of the Trend Day extension handles of 17572 & 17636 on the upside.
Click here to view the latest profile in NF on MPLite
- The NF Open was a Open Rejection Reverse – Up (ORR)
- The Day type was a Normal Variation Day – Up (NV)
- Largest volume was traded at 17507 F
- Vwap of the session was at 17437 with volumes of 96.4 L and range of 300 points as it made a High-Low of 17550-17250
- The settlement day Roll Over point (November) is 17901
- The VWAP & POC of Oct Series is 18036 & 18155 respectively.
- The VWAP & POC of Sep Series is 17519 & 17365 respectively.
- The VWAP & POC of Aug Series is 16455 & 16255 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 17397-17507-17547
HVNs – 17772 / 17856 / 17916 / 17952 / 18132 / 18354
Business Areas for 24th Nov:
Up
17507 – dPOC from 23rd Nov
17547 – VAH from 23rd Nov
17572 – Extension Handle from 22nd Nov
17636 – Higher extension handle from 22nd Nov
17702 – Selling Singles from 22nd Nov
17778 – dPOC from 18th Nov
17854 – PBH from 18th Nov
Down
17471 – PBL from 23rd Nov
17436 – VWAP from 23rd Nov
17350 – Buying singles from 23rd Nov
17301 – Monthly 2 IB objective
17225 – PBL from 02nd Sep
17169 – Buying Singles from 02nd Sep
17122 – Extension Handle from 31st Aug
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Nov F: 37284 [ 37475 / 36682 ]
BNF opened with a big gap down of 260 points as it tested previous day’s responsive buying singles and made a similar low of 36682 and was once again swiftly rejected confirming initiative buying coming in this zone as it left a tail in the IB from 37070 to 36682 but stalled at the yPOC of 37271 which gave a retracement and a break below the day’s VWAP in the E period where the auction left a PBL (Pull Back Low) at 37059 confriming that the PLR (Path of Least Resistance) was still to the upside. The F TPO made the first RE higher tagging the higher extension handle of 37355 and followed it up with another one in the K period where BNF made a high of 37475 but got rejected from previous day’s HVN of 37435 leaving a small responsive selling tail at the top as it came down to close around the 2-day overlapping POC of 37270. Both range & value were inside today with tails at either sides so need to give an initiative move away from here for a fresh imbalance in the coming session(s).
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Rejection Reverse – Up (ORR)
- The Day type was a Normal Day (Inside Bar)
- Largest volume was traded at 37268 F
- Vwap of the session was at 37166 with volumes of 35.4 L and range of 793 points as it made a High-Low of 37475-36682
- The settlement day Roll Over point (November) is 39650
- The VWAP & POC of Oct Series is 39368 & 41157 respectively.
- The VWAP & POC of Sep Series is 37210 & 36633 respectively.
- The VWAP & POC of Aug Series is 35715 & 35616 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 37060-37268-37361
HVNs – 38844 / 39102 / 39531 / 39757 / 40080 / 40750
Business Areas for 24th Nov:
Up
37361 – VAH from 23rd Nov
37571 – Mid-profile selling singles
37682 – Extension Handle from 22nd Nov
37849 – Selling Singles from 22nd Nov
38093 – dPOC from 18th Nov
38241 – Selling Singles from 18th Nov
38383 – PBH from 17th Nov
Down
37270 – 2-day overlapping POC
37059 – PBL from 23rd Nov
36946 – Buying Singles from 23rd Nov
36814 – Singles mid-point from 23rd Nov
36633 – Monthly VPOC from Sep
36530 – FA (Failed Auction) from 07th Sep
36393 – Mid-profile singles from 30th Aug
36185 – Buying Singles from 30th Aug
(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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