Nifty Jun F:
NF opened in previous Value & probed higher but got rejected around previous day’s VWAP after which it gave a swift move lower and went on to break PDL (Previous Day Low) making a low of 11693 inside the Initial Balance itself giving a relatively IB large range of 89 points. (Click here to view the profile chart for better understanding) The large IB range then called for a balance as the auction stayed inside the ‘B’ period for the next 3 periods after which it entered previous day’s Value in the ‘F’ period probing higher tagging the yPOC as it made a high of 11759. NF was again met with supply here as it started a slow OTF (One time frame) move lower for the next 5 periods and went on to make a range extension to the downside in the ‘K’ period as it marked a new day low of 11681. However, this probe down looked exhausted as ‘L’ period not only made similar lows but also went on to stop the OTF down as the auction completed the 45 degree rule to give a close around the dPOC of 11713. Value formed was mostly lower compared to the previous day but NF has been in this composite since the 17th of June and with the auction testing & finding support in the buying tail of 20th June, there is good chance that today’s selling tail of 11759 to 11782 could be tested in the coming session(s)..
- The NF Open was a Open Rejection Reverse – Down (ORR)
- The day type was a Normal Variation Day (Down)
- Largest volume was traded at 11713 F
- Vwap of the session was at 11725 with volumes of 82.4 L making a range of 101 points as it made a High-Low of 11782-11681
- The settlement day Roll Over point is 11980
- The VWAP & POC of May Series is 11613 & 11696 respectively.
- The VWAP & POC of Apr Series is 11641 & 11592 respectively.
- The VWAP & POC of Mar Series is 11327 & 11448 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 11695-11713-11741
Hypos / Estimates for the next session:
a) NF needs to stay above 11741-745 for a move to 11759 & 11775-780
b) Immediate support is at 11713 below which the auction could test 11693-685 & 11665
c) Above 11780, NF could probe higher to 11795-805 & 11820-825
d) Below 11665, lower levels of 11649-640 & 11619-612 could be tagged
e) Above 11825, the auction can rise to 11849 & 11868-871
f) Break of 11612 can trigger a move lower to 11580 & 11562-550
BankNifty Jun F:
BNF made yet another OAIR start with low volumes to remain inside previous day’s range all day building volumes again around the prominent POC of 30650 making the Gaussian profile more bulkier and looks set to give a move either to 30399 or to 30825 in the coming session and what the auction does there could give a signal of the next move in BNF. (Click here to view the profile chart for better understanding)
- The BNF Open was a Open Auction In Range (OAIR)
- The day type was a Normal Variation Day (Down)
- Largest volume was traded yet again at 30650 F
- Vwap of the session was at 30656 with lowest volumes of the series at just 19.8 L in a session which traded inside previous day’s range making a High-Low of 30768-30533 making a new low for over a month of only 234 points
- The settlement day Roll Over point is 31644
- The VWAP & POC of May Series 30211 & 28940 respectively
- The VWAP & POC of Apr Series is 30037 & 29762 respectively.
- The VWAP & POC of Mar Series is 29061 & 29778 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 30592-30650-30696
Hypos / Estimates for the next session:
a) BNF needs to sustain above 30655-660 for a move to 30710 / 30768 & 30825
b) Staying below 30650, the auction can test 30602-580 / 30515 & 30470
c) Above 30825, the auction can probe higher to 30878-885 & 30920-955
d) Below 30470, BNF can fall lower to 30405-395 & 30350-320
e) Sustaining above 30955, BNF can give a fresh leg up to 30990-31010 & 31060-90
f) Break of 30320 could trigger a move down 30275-210 & 30120
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