Nifty Jan F: 17283 [ 17309 / 16851 ]
NF continued previous day’s imbalance with a gap down open of 150 points and fell by another 150 points as it tagged the 21st Dec VPOC of 16858 while making a low of 16851 and saw a swift move back above VWAP late in the A period confirming an Open Rejection Reverse (ORR) Up and followed it up by almost tagging the PBH of 17199 while making a high of 17195 in the B TPO as it formed a pretty big 344 point range left a long initiative buying tail from 17034 to 16851 along with a responsive selling tail too from 17115 to 17195.
The auction then tested the buying singles by making lower lows in the C & D periods but the entry back into previous day’s range was met with rejection & a PBL at 17002 validating the ORR start after which it not only got accepted in the selling singles but went on to make multiple REs (Range Extension) from the J to M periods as it got above the Trend Day VWAP of 17275 and made a high of 17309 before closing around the HVN of 17276.
For the first time in 5 sessions, NF has formed overlapping to higher Value turning the PLR (Path of Least Resistance) to the upside with the spike zone of 17260 to 17309 being the reference for the next open.
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 Variation Day – Up (NV with a spike close)
- Largest volume was traded at 17102 F
- Vwap of the session was at 17113 with volumes of 132.1 L and range of 458 points as it made a High-Low of 17309-16851
- NF confirmed a FA at 17723 on 21/01 and tagged the 2 ATR objective of 17352 on 24/01. This FA is currently on ‘T+3’ Days.
- The settlement day Roll Over point (January 2022) is 17260
- The VWAP & POC of Dec Series is 17169 & 17240 respectively.
- The VWAP & POC of Nov Series is 17635 & 17961 respectively.
- The VWAP & POC of Oct Series is 18036 & 18155 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 17011-17102-17253
HVNs – 17400 / 17745 / 17811** / 17964 / 18237
(** indicates series POC)
Business Areas for 27th Jan 2022:
Up
17318 – Mid profile singles (24th Jan)
17376 – Extension Handle (24th Jan)
17419 – dPOC from 24th Jan
17475 – B TPO VWAP (Supply)
17516 – Initiative Singles (24th Jan)
17603 – Weekly IBH
17646 – VPOC from 21st Jan
17723 – FA from 21st Jan
Down
17260 – Spike low from 25th Jan
17195 – IBH from 25th Jan
17113 – VWAP from 25th Jan
17045 – PBL from 25th Jan
17002 – Initiative Tail (25th Jan)
16926 – Mid-point of singles
16858 – dPOC from 21st Dec
16818 – K TPO VWAP (21st Dec)
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Jan F: 37720 [ 37809 / 36470 ]
BNF opened lower by more than 400 points and went on to make a low of 36470 but got rejected from previous day’s LVN of 36520 as it not only got above the VWAP but went on to climb above the yPOC of 36895 in the A period and scaled above yVWAP of 37123 & the DD singles of 37157 to 37321 in the B TPO while making a high of 37312 leaving a big range of 841 points.
The auction then consolidated leaving a PBL at 36931 in the D period in the only visit to the day’s VWAP after which it made multiple REs to the upside starting from the F period onwards hitting higher highs for the rest of the TPOs except for the H period where it left the second PBL of the day at 37171 & left an extension handle at 37565 to climb over PDH giving a mini-spike from 37706 to 37809 into the close.
Value for the day was mostly higher & with the big intent shown by initiative buyers at open, the PLR for the coming session(s) would be to the upside towards the VPOCs of 38008 & 38525 with today’s VWAP of 37254 being the important support level to watch.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Rejection Reverse – Up (ORR)
- The Day type was a Normal Variation Day – Up (NV with a mini-spike)
- Largest volume was traded at 37243 F
- Vwap of the session was at 37254 with volumes of 47.7 L and range of 1338 points as it made a High-Low of 37809-36470
- The settlement day Roll Over point (January 2022) is 35240
- The VWAP & POC of Dec Series is 36082 & 35100 respectively.
- The VWAP & POC of Nov Series is 38047 & 39404 respectively.
- The VWAP & POC of Oct Series is 39368 & 41157 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 36932-37243-37632
HVNs – 37590 / 37762 / 38260** / 38556 / 38850
(** indicates series POC)
Business Areas for 27th Jan 2022:
Up
37809 – Spike High (25th Jan)
37949 – 2-day composite VAL (19 – 20 Jan)
38084 – Previous week’s VWAP
38201 – 2-day composite VAH (19 – 20 Jan)
38376 – Last week’s HVN
38525 – VPOC from 18th Jan
38678 – SOC from 18th Jan
38820 – HVN from 18th Jan
Down
37703 – Weekly IBH
37565 – Extension Handle from 25th Jan
37420 – SOC from 25th Jan
37254 – VWAP from 25th Jan
37070 – Current week’s POC
36931 – Buying Singles (25th Jan)
36770 – A TPO VWAP (25th Jan)
36610 – A TPO POC (25th Jan)
(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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