Nifty May F:
NF opened in the Neutral Extreme reference of the previous day and got accepted there in the IB (Initial Balance) which was a bullish sign & indicated that the upside probe is still not over. (Click here to view the profile chart for better understanding) The auction then went on to make a triple range extension to the upside over the next 3 periods tagging the 2 IB mark on the upside as early as in the ‘E’ period as it made a high of 11877. NF then stopped the one time framing up in the ‘F’ period hinting at a change in the auction behavior and what followed was a huge unexpected move down as the April series came to an end & the May one started. NF reversed the OTF (one time frame) to the downside as it kept making lower highs and went on to close in a spike down tagging the 3 IB range extension lower giving a hat-trick of Neutral Extreme Days suggesting that a big move is coming. The Neutral Extreme reference for the next session is from 11714 to 11780
- The NF Open was a Open Auction In Range (OAIR)
- The day type was a Neutral Extreme Day (Down)
- Largest volume was traded at 11722 F
- Vwap of the session was at 11810 with volumes of 134.9 L in a session which traded a High-Low range of 11877-11714 for a range of 162 points
- NF confirmed a FA at 11665 on 24/04 and tagged the 1 ATR move up of 11779. The 2 ATR target from this FA comes to 11893.
- NF had confirmed a FA at 11432 on 26/03 and tagged the 2 ATR move of 11632 on 27/03. This FA has not been tagged & is now strong support.
- The settlement day Roll Over point is 11722
- The VWAP & POC of Apr Series is 11641 & 11592 respectively.
- The VWAP & POC of Mar Series is 11327 & 11448 respectively.
- The VWAP & POC of Feb Series is 10830 & 10856 respectively.
You can check the monthly charts & other swing levels for Nifty & NF here & for the weekly charts & analysis, please click here.
Daily Zones:
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- Value zones (volume profile) are at 11793-11857-11860
Hypos / Estimates for the next session:
a) NF needs to stay above 11722 for a move to 11742-756 & 11780-792
b) Immediate support is at 11713-700 below which the auction can probe lower to 11688 & 11665-654
c) Above 11792, NF can move higher to 11820 & 11850-857
d) Below 11654, lower levels of 11631 & 11613-611 could be tagged
e) If 11857 is taken out & sustained, the auction can probe higher to 11878 & 11904
f) Break of 11611 could bring 11589 & 11570 on the downside
BankNifty May F:
Report to be updated…
- The BNF Open was a Open Auction (OA)
- The day type was a Neutral Extreme Day (Down)
- Largest volume was traded at 29760 F
- Vwap of the session was at 30012 with volumes at 19.1 L in a session which traded a High-Low range of 30251-29750 for a range of 502 points
- The settlement day Roll Over point is 29760
- The VWAP & POC of Apr Series is 30037 & 29762 respectively.
- The VWAP & POC of Mar Series is 29061 & 29778 respectively.
- The VWAP & POC of Feb Series 27042 & 26978 respectively
For the Monthly charts & other swing levels for BankNifty & BNF click here & for the weekly charts & analysis, please click here.
Daily Zones:
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- Value zones (volume profile) are at 29750-29760-30134
Hypos / Estimates for the next session:
a) BNF needs to stay above 29825 for a probe to 29915 & 29970
b) Immediate support is at 29760-745 below which lower levels of 29650-625 & 29555-528 can be tested
c) Above 29970, the auction could move higher to 30015-55 & 30135-150
d) Below 29528, BNF could fall to 26460-445 & 29400-395
e) If 30150 is taken out & sustained, BNF could tag 30200-210 & 30252-305
f) Break of 29395 could bring 29340 & 29220 on the downside
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