Nifty May F: 15218 [ 15299 / 15160 ]
NF opened with a big gap up of 80 points negating the upside rejection of previous day as it made new highs for the series at 15299 but settled down into an OAOR (Open Auction Out of Range) forming a very narrow 46 point range in the IB (Initial Balance) which included a small selling tail at top indicating that the PLR (Path of Least Resistance) was to the downside. The auction then made a RE (Range Extension) lower in the ‘D’ period followed by new lows of 15231 in the ‘E’ as it stopped right above previous VAH and gave a bounce back to the day’s VWAP in the ‘F’ period but could only leave a PBH (Pull Back High) at 15272 re-confirming that the sellers were controlling the play and they pushed for a fresh RE in the ‘I’ period leaving an extension handle at 15231 and not only implemented the 80% Rule in yesterday’s Gaussian profile but went on to complete the 3 IB objective of 15160 for the day in the ‘K’ period. As often hapens, the 3 IB target led to good profit booking by the sellers which in turn got the reverse 80% Rule activated in previous Value as NF got back to the extension handle of 15231 before closing the day around the 2-day overlapping POC of 15210 which will be the immediate reference for the next open. On the upside, we have a HVN at 15260 which will be the level to be taken out for this expiry to close at the highs whereas on the downside 15181 & 15150 remain the important supports below which we could get a move to 15082 & 15056 in the coming session(s).
Click here to view the latest profile in NF on MPLite
- The NF Open was a Open Auction Out of Range (OAOR)
- The Day type was a Normal Variation Day – Down (NV)
- Largest volume was traded at 15213 F
- Vwap of the session was at 15233 with volumes of 78 L and range of 139 points as it made a High-Low of 15299-15160
- NF confirmed a FA at 14620 on 14/05 and tagged the 2 ATR objective of 14992 on 18/05. This FA has not been tagged and is now a positional support level.
- The settlement day Roll Over point (May) is 14925
- The VWAP & POC of Apr Series is 14576 & 14375 respectively.
- The VWAP & POC of Mar Series is 14816 & 14737 respectively.
- The VWAP & POC of Feb Series is 14893 & 15115 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 15169-15213-15260
HVNs – 14606 / 14714* / 14896 / 14976 / 15120 / 15210
BankNifty May F: 34758 [ 35194 / 34434 ]
BNF opened higher right in the previous day’s responsive selling tail from 35138 to 35348 and was swiftly rejected as it left an initiative selling tail from 35194 to 34918 in the IB and formed a ‘b’ shape profile for the day as it went on to make new lows for the week at 34434 with a close at the day’s prominent POC of 34734. Value & range for the day was overlapping to lower thus giving a nice 2-day composite with Value at 34664-34878-35022 which will be the reference for the coming session.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Auction In Range (OAIR)
- The Day type was a Normal Variation Day – Down (NV)
- Largest volume was traded at 34734 F
- Vwap of the session was at 34732 with volumes of 39.8 L and range of 760 points as it made a High-Low of 35194-34434
- The settlement day Roll Over point (May) is 33765
- The VWAP & POC of Apr Series is 33260 & 32490 respectively.
- The VWAP & POC of Mar Series is 34618 & 33870 respectively.
- The VWAP & POC of Feb Series is 35530 & 35820 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 34564-34734-34916
HVNs – 32615 / 32927* / 33768
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