Nifty Mar F: 17243 [ 17339 / 17111 ]
NF opened with a big gap down of over 150 points and made an OL (Open=Low) freak tick start at 17111 just above 22nd Mar VPOC of 17102 and made a swift entry back into previous day’s range confirming an ORR (Open Rejection Reverse) as it went on to make a high of 17297 in the IB (Initial Balance) and left a buying tail from 17224 to 17111. The auction then had a silent C side for a change staying inside the B period after which it made couple of REs (Range Extension) to the upside in the D & E TPOs but got stalled after hitting the NeuX VWAP of 17332 as it left a small selling tail from 17324 to 17339 which marked the end of the upside for the day.
NF then broke below the day’s VWAP in the F period triggering a quick drop till the G as it got into the morning buying singles & made a low of 17175 stopping right at the 22nd Mar Extension Handle. The rest of the day saw the auction rotating between 17175 & the IBH even confirming a PBH at 17292 along with an overlapping 2-day POC at 17264 leaving a ‘p’ shape profile for the day with overlapping to lower Value.
On the larger timeframe, NF has formed a nice balance over the last 5 days & the composite Value is at 17203-17315-17355 and there is a good chance of a move away from here in the coming session(s). (Click here to view the 5-day composite)
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 Day (‘p’ shape profile)
- Largest volume was traded at 17264 F
- Vwap of the session was at 17244 with volumes of 96.8 L and range of 228 points as it made a High-Low of 17339-17111
- NF confirmed a FA at 17051 on 22/03 and tagged the 1 ATR objective of 17351 on the same day. The 2 ATR objective comes to 17650. This FA is currently on ‘T+3’ Days.
- NF confirmed a FA at 16856 on 16/03 and tagged the 1 ATR objective of 17182 on 17/03. The 2 ATR objective comes to 17508. This FA is currently on ‘T+6’ Days.
- The settlement day Roll Over point (March 2022) is 16251
- The VWAP & POC of Feb 2022 Series is 17183 & 17409 respectively.
- The VWAP & POC of Jan 2022 Series is 17669 & 17703 respectively.
- The VWAP & POC of Dec 2021 Series is 17169 & 17240 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 17198-17264-17281
HVN – 16648
(** indicates series POC)
Business Areas for 25th Mar 2022:
Up
17264 – dPOC from 24th Mar
17315 – 5-day composite POC
17355 – 5-day composite VAH
17392 – Weekly IBH
17433 – Selling Singles (23rd Mar)
17475 – PBH from 17th Feb
17523 – Selling singles (16th Feb)
17558 – 1 ATR from 17268
Down
17203 – 5-day composite VAL
17175 – Buying Singles (24th Mar)
17143 – Weekly IBL
17102 – dPOC from 22nd Mar
17051 – Daily Extension Handle
17019 – Weekly 1.5 IB target
16979 – Extension Handle (16th Mar)
16937 – VPOC from 16th Mar
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Mar F: 35641 [ 36057 / 35502 ]
BNF also opened with a big gap down of 500 points and took support right at the 22nd Mar HVN of 35650 as it made a low of 35645 in the opening minutes & reversed the probe to the upside for the rest of the IB with the help of an extension handle at 35813 and made a high of 36000.
The auction then remained in a narrow range in the C & D periods before attempting a RE to the upside in the E TPO where it made new highs of 36057 but was swiftly rejected back into the IB & once it broke below VWAP in the F period, the fall gained momentum and made new lows for the day at 35517 in the G period which also confirmed a FA at the highs.
BNF gave one bounce back to the day’s VWAP in the I period but got rejected leaving a PBH at 35814 with the morning extension handle displaying change of polarity resulting in marginal new lows for the day at 35502 as the auction stopped just above the 22nd Mar FA of 35475 and closed around the dPOC of 35627 forming a Neutral Centre Day with completely lower Value.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Auction Out of Range (OAOR)
- The Day type was a Neutral Day (NeuD)
- Largest volume was traded at 35627 F
- Vwap of the session was at 35741 with volumes of 55.7 L and range of 555 points as it made a High-Low of 36057-35502
- BNF confirmed a FA at 35475 on 22/03 and tagged the 1 ATR objective of 36328 on the same day. The 2 ATR objective comes to 37182. This FA is currently on ‘T+3’ Days.
- The settlement day Roll Over point (March 2022) is 35296
- The VWAP & POC of Feb 2022 Series is 37712 & 37712 respectively.
- The VWAP & POC of Jan 2022 Series is 37772 & 38232 respectively.
- The VWAP & POC of Dec 2021 Series is 36082 & 35100 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 35561-35627-35797
HVNs – 34561 / 34897 / 35070 / 35280 / 36451**
(** indicates series POC)
Business Areas for 25th Mar 2022:
Up
35645 – IBL from 24th Mar
35814 – PBH from 24th Mar
35941 – Weekly IBL
36057 – FA from 24th Mar
36254 – VPOC from 23rd Mar
36390 – PBH from 23rd Mar
36495 – PBH from 23rd Mar
36612 – PBH from 23rd Mar
Down
35627 – dPOC from 24th Mar
35475 – FA from 22nd Mar
35383 – 1 ATR from 36254
35275 – Gap Mid-point (16th Mar)
35186 – 1 ATR from FA of 36057
35070 – HVN from 15th Mar
34897 – Developing series POC
34681 – Buying Singles (14th Mar)
(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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