Nifty Aug F: 16620 [ 16643 / 16495 ]
NF opened higher away from the 2-day composite Value but for the second time in 2 days got rejected from the 18th Aug Trend Day POC of 16559 as it made a high of 16561 and probed lower and went on to make a low of 16495 in the ‘B’ period stopping just above the yPOC & the composite VAH of 16492 where it left a small buying tail indicating end of the downside probe. The auction then began to coil forming a balance as it remained in the narrow IB range till the ‘F’ period after which it made the first RE (Range Extension) to the upside in the ‘G’ period and followed it up with an extension handle at 16571 in the ‘I’ period signalling buyers getting aggressive and this led to a OTF (One Time Frame) probe till the ‘L’ period as NF left another extension handle at 16599 and went on to complete the 2 IB objective of 16628 and tested the 18th Aug NeuX (Neutral Extreme) selling extension handle of 16632 while making a high of 16643 where it saw some good profit booking by the longs resulting in a pull back to 16608 into the close. Value for the day was completely higher as the auction did give a move away from the 2-day balance so the PLR (Path of Least Resistance) would be on the upside for a move towards the HVN of 16662 & the monthly ATR target of 16724.
Click here to view the latest profile in NF on MPLite
- The NF Open was a Open Auction In Range (OAIR)
- The Day type was a Normal Variation Day – Up (NV)
- Largest volume was traded at 16531 F
- Vwap of the session was at 16573 with volumes of 61.6 L and range of 148 points as it made a High-Low of 16643-16495
- NF confirmed a FA at 16689 on 18/08 and tagged the 2 ATR objective of 16390 on 20/08. This FA is currently on ‘T+4’ Days.
- The settlement day Roll Over point (August) is 15805
- The VWAP & POC of Jul Series is 15778 & 15820 respectively.
- The VWAP & POC of Jun Series is 15721 & 15721 respectively.
- The VWAP & POC of May Series is 14945 & 15094 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 16501-16531-16611
Business Areas for 25th Aug:
Up
16624 – HVN from 24th Aug
16662 – HVN from 18th Aug
16724 – Monthly ATR target
16749 – Weekly 2 IB objective
Down
16599 – Extension Handle from 24th Aug
16571 – VWAP from 24th Aug
16531 – POC from 24th Aug
16492 – VPOC from 23rd Aug
(The are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Aug F: 35719 [ 35817 / 35085 ]
BNF made a slow OAIR (Open Auction In Range) start around the yPOC of 35146 and took support right at the 2-day composite POC of 35085 in the ‘A’ period after which it formed an inside bar in the ‘B’ leaving a narrow 185 point range IB (Initial Balance) but made it’s intention clear as soon as the C period started as it left an extension handle at 35270 which inturn resulted in a trending move higher till the ‘K’ period as the auction left couple of more extension handles at 35427 & 35583 and almost tagged the 18th Aug Trend Day VPOC of 35821 before giving a retracement to 35689 into the close which saw the dPOC also shifting higher to 35701 which will be the immeidate reference for the next open. Value for today’s Trend Day was completely higher but BNF will need to sustain above 35834 (18th Aug VWAP) to continue the probe higher in the coming session(s).
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Auction In Range (OAIR)
- The Day type was a Trend Day – Up (TD)
- Largest volume was traded at 35701 F
- Vwap of the session was at 35504 with volumes of 34.8 L and range of 733 points as it made a High-Low of 35817-35085
- The settlement day Roll Over point (August) is 34860
- The VWAP & POC of Jul Series is 35105 & 34804 respectively.
- The VWAP & POC of Jun Series is 35012 & 35070 respectively.
- The VWAP & POC of May Series is 33568 & 34828 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 35372-35701-35810
Business Areas for 25th Aug:
Up
35834 – VWAP from 18th Aug
35937 – Extension Handle from 18th Aug
36020 – Extension Handle from 18th Aug
36128 – HVN from 18th Aug
Down
35701 – POC from 24th Aug
35504 – Extension handle from 24th Aug
35427 – Extension handle from 24th Aug
35270 – Extension handle from 24th Aug
(The 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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