Nifty Oct F: 18145 [ 18234 / 17986 ]
NF repeated the script it was playing out from the last 2 sessions as it opened higher but met with aggressive selling just below the 2-day composite VAH of 18229 and swiped through the Value Area in the A period completing the 80% Rule while it made a low of 18070 and continued this imbalance in the B period where it not only broke below previous week’s low of 18051 but went on to test the 13th Oct Neux zone low of 17995 leaving a huge 238 point range in the IB (Initial Balance). The auction then confirmed an important responsive buying tail from 18011 to 17986 which marked the end of the downside and the start of a probe higher as NF went on to retrace the entire fall and even made an attempt to extend the range by making a RE (Range Extension) in the F period where it hit new highs for the day at 18234 but once again got rejected from the VAH of the 2-day composite and played out the 80% Rule to the downside one more time as it left a PBL at 18075 in the ‘K’ period before closing at the prominent dPOC of 18145. Value for the day was once again overlapping so we now have a 3-day composite at 18079-18164-18218 and a good chance of a move away from here in the coming session(s) provided we get initiative volumes.
Click here to view the latest profile in NF on MPLite
- The NF Open was a Open Rejection Reverse – Down (ORR)
- The Day type was a Normal Day (3-1-3 profile)
- Largest volume was traded at 18149 F
- Vwap of the session was at 18117 with volumes of 93.6 L and range of 248 points as it made a High-Low of 18234-17986
- NF confirmed a FA at 17862 on 12/10 and tagged the 2 ATR objective of 18219 on 14/10. This FA has not been tagged in ‘T+6’ Days and is now strong positional reference..
- The settlement day Roll Over point (October) is 17611
- The VWAP & POC of Sep Series is 17519 & 17365 respectively.
- The VWAP & POC of Aug Series is 16455 & 16255 respectively.
- The VWAP & POC of Jul Series is 15778 & 15820 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 18075-18149-18192
HVNs – 17700 / 17751 / 17817 / 18168 / 18480
Business Areas for 26th Oct:
Up
18164 – 3-day composite POC (21st-25th Oct)
18218 – 3-day composite VAH (21st-25th Oct)
18266 – SOC (Scene Of Crime) from 22nd Oct
18314 – Selling singles from 22nd Oct
18361 – VPOC from 20th Oct
18411 – HVN from 20th Oct
Down
18117 – VWAP from 25th Oct
18075 – PBL (Pull Back Low) from 25th Oct
18011 – Buying Singles from 25th Oct
17986 – Weekly IBL / PDL
17938 – NeuX VWAP from 12th Oct
17891 – HVN from 12th Oct
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Oct F: 41272 [ 41821 / 40455 ]
BNF opened higher and made a huge 442 point range in the first 5 minutes as it made a low of 40455 but was swiftly rejected to sustain above PDH (Previous Day High) and went on to complete the 1 ATR objective of 40700 from the FA of 40195 as it recorded new ATH of 40897. The auction then began to coil till the IB got over forming a narrow 97 point range in the B period as it left tails at both ends but went on to start a fresh probe higher from the C period onwards as BNF got into Beast Mode and left an extension handle at 40896 to start a monstrous move higher as it not only completed the 2 ATR target of 41205 from the FA but went on to tag the 3 IB objective of the day which was at 31780 in the F TPO itself where it made a high of 41821. Having completed a 1366 point range for the day plus the confirmation of a responsive selling tail from 41662 to 41821, the auction saw some profit booking coming and a retracement to the day’s VWAP in the K period where BNF left a PBL at 41085 before getting back to the day’s HVN of 41335 into the close leaving a Trend Up profile thanks to the huge range it has formed and could form a balance inside this profile for the next few sessions.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Auction Out of Range (OAOR)
- The Day type was a Trend Day – Up (TD)
- Largest volume was traded at 40733 F
- Vwap of the session was at 41157 with volumes of 46.3 L and range of 1366 points as it made a High-Low of 41821-40455
- BNF confirmed a FA at 40196 on 22/10 and tagged the 2 ATR target of 41205 on 25/10.
- The settlement day Roll Over point (October) is 37596
- The VWAP & POC of Sep Series is 37210 & 36633 respectively.
- The VWAP & POC of Aug Series is 35715 & 35616 respectively.
- The VWAP & POC of Jul Series is 35105 & 34804 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 40615-40733-41372
HVNs – 37622 / 37730 / 37874 / 39738
Business Areas for 26th Oct:
Up
41335 – HVN from 25th Oct
41502 – SOC (Scene Of Crime) from 25th Oct
41668 – Selling Singles from 25th Oct
41826 – 1 ATR from 41272
42000 – BRN (Big Round Number)
42379 – 2 ATR from 41272
42504 – Weekly 1.5 Objective
Down
41220 – HVN from 25th Oct
41085 – PBL (Pull Back Low) from 25th Oct
40896 – Extension Handle from 25th Oct
40660 – Buying Singles from 25th Oct
40528 – Singles mid-point from 25th Oct
40371 – Prominent VPOC from 22nd Oct
40195 – FA (Failed Auction) from 22nd Oct
40068 – Neutral Extreme Low zone from 21st Oct
(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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