Nifty Jul F: 16632 [ 16705 / 16561 ]
NF opened lower first negating the extension handle of 16697 and then re-visiting the FA of 16611 as it made a low of 16585 in the B period leaving an initiative selling tail from 16640 to 16705 & continued this imbalance to the downside with couple of REs in the D & E periods where it tagged the 21st Jul VPOC of 16572 but stalled at the 2-day composite VAH of 16565.
The similar lows of 16563 & 16561 indicated that the sellers were doing a bad job which led to a small short covering bounce in the J & K TPOs as the auction got into the A period singles & left a PBH of 16688 and got back to the dPOC of 16602 into the close leaving a ‘b’ shape profile for the day.
Click here to view the latest profile in NF on MPLite
- The NF Open was an Open Auction In Range (OAIR)
- The Day type was a Normal Variation Day – Down (‘b’ shape profile)
- Largest volume was traded at 16602 F
- Vwap of the session was at 16626 with volumes of 79.1 L and range of 144 points as it made a High-Low of 16705-16561
- NF confirmed a FA at 16611 on 22/07 and the 1 ATR objective comes to 16780. This FA got broken on 25/07 but could not manage to close below it.
- NF confirmed a FA at 15651 on 04/07 and tagged the 2 ATR objective of 16092 on 07/07. This FA has not been tagged and is now a positional reference.
- NF confirmed a FA at 15514 on 01/07 and tagged the 2 ATR objective of 15935 on 05/07. This FA has not been tagged and is now a positional reference.
- The settlement day Roll Over point (Jul 2022) is 15720
- The VWAP & POC of Jun 2022 Series is 15895 & 15793 respectively.
- The VWAP & POC of May 2022 Series is 16270 & 16340 respectively.
- The VWAP & POC of Apr 2022 Series is 17430 & 17145 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 16568-16602-16650
HVNs – 15670 / 15838 / 16114**
(** indicates series POC)
Business Areas for 26th Jul 2022:
Up
16636 – LVN from 25th Jul
16688 – Selling Singles (25th Jul)
16728 – HVN from 22nd Jul
16780 – 1 ATR from FA of 16611
16831 – Daily Swing High
16873 – Weekly 2 IB + SOC (05th May)
Down
16602 – dPOC from 25th Jul
16563 – Poor Lows (25th Jul)
16513 – 2-day composite VAL
16480 – Weekly 2 IB target
16434 – Gap Mid-point
16398 – Selling Tail Top (10th Jun)
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Jul F: 36713 [ 36988 / 36451 ]
BNF yet again opened with a Drive Up from the yPOC of 36694 as it briefly scaled above the Daily Swing High of 36963 from 28th Apr while tagging 36988 but the drive failed as the VWAP got broken in the A period itself converting it to an ORR (Open Rejection Reverse) Down.
The auction went on to swipe through previous day’s range breaking below the VWAP of 36620 in the B period & then negated the extension handle of 36548 with a C side RE and continued to probe lower tagging the HVN of 36477 in the D TPO while making a low of 36458 but this OTF (One Time Frame) move began to lose steam as could only manage marginal new lows of 36451 in the E period which indicated that the sellers were getting exhausted.
BNF then filled up the DD zone for most part of the afternoon before giving a small short covering bounce in the J & K periods as it made a look up above PDH but left a PBH at 36688 and retraced back to the day’s VWAP of 36680 into the close forming a ‘b’ shape Normal Day with overlapping Value.
We have a nice 3-1-3 Balance developing in BNF after the recent imbalance with the Value at 36496-36688-36784 with the composite VWAP at 36650 & the MPLite chart of the same can be seen here.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was an Open Rejection Reverse – Down (ORR)
- The Day type was a Normal Variation Day – Down (‘b’ shape profile)
- Largest volume was traded at 36547 F
- Vwap of the session was at 36680 with volumes of 34.1 L and range of 537 points as it made a High-Low of 36988-36451
- BNF confirmed a FA at 34887 on 18/07 and tagged the 2 ATR objective of 35764 on 19/07. This FA is currently on ‘T+6’ Days.
- The settlement day Roll Over point (Jul 2022) is 33380
- The VWAP & POC of Jun 2022 Series is 33969 & 33498 respectively.
- The VWAP & POC of May 2022 Series is 34570 & 34477 respectively.
- The VWAP & POC of Apr 2022 Series is 37090 & 36386 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 36460-36547-36769
HVNs – 34307 / 34692 / 34902 / 35147**
(** indicates series POC)
Business Areas for 26th Jul 2022:
Up
36720 – LVN from 25th Jul
36837 – HVN from 25th Jul
36937 – Monthly 3 IB target
37050 – DSH (21st Apr)
37229 – DSH (19th Apr)
37400 – Extension Handle (18th Apr)
Down
36688 – 2-day composite POC
36547 – dPOC from 25th Jul
36418 – Buying Singles (22nd Jul)
36304 – Singles Mid-point
36135 – VPOC from 21st Jul
36058 – Buying Singles
(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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