Nifty May F: 15202 [ 15259 / 15150 ]
NF opened above the reference of 15225 and made new highs for the series at 15250 but got rejected and reversed back into previous day’s range giving a quick fall of 100 points as it made a low of 15150 in the ‘B’ period and took support right at the buying extension handle of Friday. The auction then remained in the IB range for the rest of the day forming a 3-1-3 balanced profile for the day and made a late attempt to extend the range in the ‘K’ period as it made marginal new highs for the day at 15259 but once again was rejected trapping the late longs resulting in a sharp liquidation move lower to 15181 into the close. NF has formed a perfect Gaussian profile for the day with higher Value and a prominent POC at 15208 but has rejections at both ends so one of them needs to get negated in the coming session for a move away from today’s balance.
- The NF Open was a Open Rejection Reverse – Down (ORR on lower volumes)
- The Day type was a Normal Day (Gaussian Profile)
- Largest volume was traded at 15208 F
- Vwap of the session was at 15210 with volumes of 71.4 L and range of 109 points as it made a High-Low of 15259-15150
- NF confirmed a FA at 14620 on 14/05 and tagged the 2 ATR objective of 14992 on 18/05. This FA has not been tagged and is now a positional support level.
- The settlement day Roll Over point (May) is 14925
- The VWAP & POC of Apr Series is 14576 & 14375 respectively.
- The VWAP & POC of Mar Series is 14816 & 14737 respectively.
- The VWAP & POC of Feb Series is 14893 & 15115 respectively.
- Value zones (volume profile) are at 15186-15208-15228
HVNs – 14606 / 14714* / 14896 / 14976 / 15120
BankNifty May F: 34998 [ 35348 / 34556 ]
BNF continued previous day’s imbalance to the upside at open as it went on to mark new highs of the series at 35127 in the opening minutes but saw good profit booking taking place as the auction broke below VWAP triggering a liquidation move lower to 34556 in the ‘B’ period as it negated the immediate singles of 34730 to 34635 and went on to test the larger zone of singles from 34599 to 34265 as it left another buying tail in the larger than normal IB range of 571 points. BNF then settled down between the tails at both ends to form a balance till the ‘J’ period before it made a Range Extension to the upside in the K period and followed it up with new highs of 35348 in the ‘L’ period but these new highs were once again swiftly rejected resulting in the 45 Degree Rule playing out as the auction got back into the IB and went on to tag the prominent dPOC of 34983 into the close leaving a perfect 3-1-3 profile. Value for the day was completely higher but we have an excess at the new highs in form of the the selling tail from 35138 to 35348 indicating the end of the leg upside.
- The BNF Open was a Open Auction Out of Range (OAOR)
- The Day type was a Normal Day (3-1-3 profile)
- Largest volume was traded at 34983 F
- Vwap of the session was at 34944 with volumes of 43.7 L and range of 792 points as it made a High-Low of 35348-34556
- The settlement day Roll Over point (May) is 33765
- The VWAP & POC of Apr Series is 33260 & 32490 respectively.
- The VWAP & POC of Mar Series is 34618 & 33870 respectively.
- The VWAP & POC of Feb Series is 35530 & 35820 respectively.
- Value zones (volume profile) are at 34781-34983-35057
HVNs – 32615 / 32957* / 33768
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