Nifty Jun F:
NF opened lower making a weak start breaking below PDL (Previous Day Low) in the ‘A’ period itself as it tagged 11666 but could not sustain these new lows and got back into previous day’s range indicating an ORR (Open Rejection Reverse) start which got more confirmation as the ‘B’ period made new highs of 11722 and closed above ‘A’. (Click here to view the profile chart for better understanding) The auction then consolidated for the next 3 periods making a nice balance with a mini ‘p’ profile before it made a big range extension in the ‘F’ period to start a trending move higher till the ‘L’ period where it made a high of 11834 as it completed the 3 IB range extension for the day. NF then retraced part of this big move as it came down to tag 11786 at close to leave a Triple Distribution Trend Day up. The zone of 11770-740 will act as important support for this week’s expiry.
- The NF Open was a Open Rejection Reverse – Up (ORR)
- The day type was a Triple Distribution Trend Day (Up)
- Largest volume was traded at 11715 F
- Vwap of the session was at 11759 with volumes of 117.1 L making a range of 167 points as it made a High-Low of 11834-11666
- The settlement day Roll Over point is 11980
- The VWAP & POC of May Series is 11613 & 11696 respectively.
- The VWAP & POC of Apr Series is 11641 & 11592 respectively.
- The VWAP & POC of Mar Series is 11327 & 11448 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 11693-11715-11792
Hypos / Estimates for the next session:
a) NF has immediate resistance at 11825-830 if taken out can do 11849 & 11868-871
b) Immediate support is at 11795-790 below which the auction could test 11770 & 11740
c) Above 11871, NF could probe higher to 11884-895 & 11910-918
d) Below 11740, lower levels of 11725-715 & 11693-686 could be tagged
e) Above 11918, the auction can rise to 11932-945 & 11960
f) Break of 11686 can trigger a move lower to 11665 & 11649-640
BankNifty Jun F:
BNF was due for a higher range day after the back to back narrow daily bars & it came in the form of a Trend Day today. BNF opened weaker below that prominent POC of 30650 and looked to give a move away to the downside as it broke below PDL (Previous Day Low) in the ‘A’ period to make lows of 30480 but failed to sustain below 30530 in spite of multiple attempts till the ‘D’ period as it left a narrow IB (Initial Balance) range of just 120 points. (Click here to view the profile chart for better understanding) Unable to find new sellers at lower levels to continue the probe down, the auction was then taken over by the buyers who made a One Time Frame move higher till the ‘K’ period leaving 2 extension handles at 30600 & 30660 to scale above PDH (Previous Day High) and tagging the vPOC of 30825 in the process completing the 3 IB range extension. BNF then consolidated in the last 2 periods after leaving poor highs at 30950 to give a Triple Distribution Trend Day and today’s VWAP of 30722 would be the important reference for this expiry in case of any dip.
- The BNF Open was a Open Rejection Reverse – Up (ORR)
- The day type was a Triple Distribution Trend Day (Up)
- Largest volume was traded yet again at 30556 F
- Vwap of the session was at 30722 with volumes of 29.1 L in a session which traded making a High-Low of 30950-30470 making a range of 470 points
- The settlement day Roll Over point is 31644
- The VWAP & POC of May Series 30211 & 28940 respectively
- The VWAP & POC of Apr Series is 30037 & 29762 respectively.
- The VWAP & POC of Mar Series is 29061 & 29778 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 30525-30566-30830
Hypos / Estimates for the next session:
a) BNF has immediate supply at 30910-928 above which it could rise to 30990-31090 & 31141-150
b) Staying below 30848-830, the auction can test 30768 / 30722-700 & 30660-630
c) Above 31150, BNF can probe higher to 31190-240 & 31290-316
d) Below 30630, BNF can fall lower to 30580-524 & 30480-470
e) Sustaining above 31316, BNF can give a fresh leg up to 31368 & 31410
f) Break of 30470 could trigger a move down 30405-395 & 30350-320
For more tradeable ideas and intraday trading strategies based on MarketProfile and the OrderFlow live charts with OrderFlow analysis Live, subscribe to the trading room. The Vtrender Trading Room hosts India’s largest MarketProfile community live every trading session from 9.15 am to 3.30 pm.
If not a Trading Room member you can get immediate access at – https://in.explara.com/e/vtrender–trading–room/checkout