Nifty Mar F: 8362 [ 8423 / 7681 ]
HVNs – (7580) / 7719 / (7820) / 7880-7892 / (7920) / 8196 / 8280 / 8346 / 8568 / 8740 / (8900) / (9110-120)
NF started with balancing in the 2-day composite in the first part of the day with a small buying tail in the IB at 7725 to 7681 but gave a move away from the balance in the second half with the first extension handle at 7977 as the auction witnessed a huge move to the upside making multiple REs and leaving 2 more extension handles at 8090 & 8196 to hit highs of 8423 before closing near the dPOC of 8348 leaving a Double Distribution Trend Day Up.
- The NF Open was a Open Auction In Range (OAIR)
- The day type was a Double Distribution Trend Day – Up (DD)
- Largest volume was traded at 8348 F
- Vwap of the session was at 8060 with volumes of 190.5 L and range of 742 points as it made a High-Low of 8423-7681
- NF confirmed a FA at 7526 on 24/03 and tagged the 1 ATR objective of 8061 on 25/03. The 2 ATR target comes to 8596
- NF confirmed a FA at 9358 on 17/03 and tagged the 2 ATR move of 8613 on 18/03. This FA has not been tagged and is positional supply point.
- The settlement day Roll Over point (Mar) is 11610
- The VWAP & POC of Feb Series is 11944 & 12125 respectively.
- The VWAP & POC of Jan Series is 12178 & 12132 respectively.
- The VWAP & POC of Dec Series is 12087 & 12182 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 7908-8348-8423
Main Hypos for the next session:
a) NF has immediate supply at 8370 above which it could rise to 8395-8405 / 8435-51 / 8490-8510 / 8556-68* & 8596
b) The auction turns weak below 8340 and could test 8310-8290 / 8250 / 8208-8196 / 8160-50 / 8112-8090 & 8069-55
Extended Hypos:
c) Above 8596, NF can probe higher to 8620-61 / 8700-27 / 8760 / 8800-50 / 8885-8900 & 8950-80
d) Below 8055, the auction can fall further to 8007 / 7981-74 / 7950-28 / 7900-7890 / 7820-10 & 7795-60
BankNifty Mar F: 18487 [ 18735/ 16600 ]
HVNs – 16850 / 16970 / 17085 / 17200 / 17355 / (18280) / 18500 / (18620) / 18930 / 19550 / 19785 / 19930
BNF also began the day with balancing in the 2-day composite while staying below the composite POC of 17355 but similar to NF, this also gave a big move on the upside leaving an extension handle at 17345 as it trended higher tagging the 3 IB move very early in the afternoon after which it began to form a small balance higher with the dPOC also shifting up at 18504 where it eventually closed. The profile has another extension handle at 17649 and a zone of singles from 18199 t0 17586 which would be the immediate reference on the downside.
- The BNF Open was a Open Auction In Range (OAIR)
- The day type was a Double Distribution Trend Day – Up (DD)
- Largest volume was traded at 18504 F
- Vwap of the session was at 17555 with volumes of 46.3 L and range of 2135 points as it made a High-Low of 18735-16600
- The Trend Day VWAP of 18/03 at 20990 will be an important positional supply point in the days to come.
- The settlement day Roll Over point (Mar) is 30520
- The VWAP & POC of Feb Series is 30692 & 30692 respectively.
- The VWAP & POC of Jan Series is 31425 & 32104 respectively.
- The VWAP & POC of Dec Series is 31956 & 32102 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 17264-18504-18734
Main Hypos for the next session:
a) BNF needs to sustain above 18510 for a rise to 18576-610 / 18693-710 / 18790 / 18910-930 / 19000-055 & 19104-150
b) The auction has immediate support at 18450 below which it could probe down to 18370 / 18270 / 18199-100 / 18025-00 & 17950
Extended Hypos:
c) Above 19150, BNF can probe higher to 19200-220 / 19290 / 19360-430 / 19550 & 19655-700
d) Below 17950, lower levels of 17775 / 17710-649 / 17586-544 / 17490-425 & 17352-345 could come into play
Additional Hypos*:
e) BNF if gets accepted above 19700* could lead to a rise to 19785 / 19900-965 / 20130 / 20265 & 20304-383
f) If 17345* is taken out, the auction can fall to 17260-200 / 17125-060 / 16950 / 16850 / 16800-770 & 16675-600
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