Nifty May F:
NF opened in the Neutral Extreme reference zone and stayed in a very narrow range giving just a 32 point IB (Initial Balance). (Click here to view the profile chart for better understanding) The auction continued to stay inside the ‘A’ period till late afternoon making a nice balance and in the process was building a wide POC at 11750 from where it moved away in the ‘J’ period making a range extension to the upside tagging the 2 IB move of 11789 as it made a high of 11810. NF continued to probe higher tagging the 3 IB move up of 11821 in the ‘L’ period as it made a high of 11828. NF has left an extension handle at 11770 which divides the 2 distributions it has made on the daily volume profile and has closed around the HVN of 11810 of the higher distribution. On the daily time frame, NF has made an inside bar & is currently making a balance between the 2 daily vPOCs of 11684 & 11856.
- The NF Open was a Open Auction In Range (OAIR)
- The day type was a Normal Variation Day (Up)
- Largest volume was traded at 11750 F
- Vwap of the session was at 11764 with volumes of 78.8 L in a session which traded a High-Low range of 11828-11725 for a range of 103 points
- NF confirmed a FA at 11665 on 24/04 and tagged the 1 ATR move up of 11779. The 2 ATR target from this FA comes to 11893.
- NF had confirmed a FA at 11432 on 26/03 and tagged the 2 ATR move of 11632 on 27/03. This FA has not been tagged & is now strong support.
- The settlement day Roll Over point is 11722
- The VWAP & POC of Apr Series is 11641 & 11592 respectively.
- The VWAP & POC of Mar Series is 11327 & 11448 respectively.
- The VWAP & POC of Feb Series is 10830 & 10856 respectively.
You can check the monthly charts & other swing levels for Nifty & NF here & for the weekly charts & analysis, please click here.
Daily Zones:
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- Value zones (volume profile) are at 11725-11750-11800
Hypos / Estimates for the next session:
a) NF needs to sustain above 11825 for a move to 11850-857 & 11875-882
b) Immediate support is at 11800 below which the auction could test 11778-764 & 11750-742
c) Above 11882, NF could probe higher to 11904-911 & 11927
d) Below 11742, lower levels of 11722-718 & 11700-684 can be expected
e) If 11927 is taken out, NF can rise to 11944 & 11961-970
f) Break of 11684 could being levels of 11665 & 11649 into play
BankNifty May F:
BNF opened in the Neutral Extreme reference zone of 29915 to 29750 which was also the range of the ‘A’ period as BNF made a high of 29916 & a low of 29752 giving an IB range of 164 points. (Click here to view the profile chart for better understanding) The auction then made a ‘C’ side range extension lower making a low of 29735 but was immediately rejected back into the IB giving a strong possibility of a FA at lows. BNF then probed higher over the next 2 periods but was not able to get above IBH and gave a dip below VWAP in the ‘H’ period as it made a low of 29757 but was once again rejected as it closed above VWAP. This rejection ensured that there was no supply below VWAP & the auction then took off on the upside in the ‘J’ period leaving an extension handle at 29916 to tag the 2 IB range extension higher of 30080 as it made a high of 30144. BNF continued to probe higher just falling short of the 3 IB move as it made a high of 30230 to give yet another Neutral Extreme profile with the reference zone for next session at 30144 to 30230. BNF has also left singles from 30087 to 29920 which could act as demand zone in the coming session(s).
- The BNF Open was a Open Auction In Range (OAIR)
- The day type was a Neutral Extreme Day (Up)
- Largest volume was traded at 29825 F
- Vwap of the session was at 29929 with volumes at 28.7 L in a session which traded a High-Low range of 30230-29735 for a range of 495 points
- BNF confirmed a FA at 29735 on 26/04 and tagged the 1 ATR move up of 30164. The 2 ATR target from this FA comes to 30593.
- The settlement day Roll Over point is 29760
- The VWAP & POC of Apr Series is 30037 & 29762 respectively.
- The VWAP & POC of Mar Series is 29061 & 29778 respectively.
- The VWAP & POC of Feb Series 27042 & 26978 respectively
For the Monthly charts & other swing levels for BankNifty & BNF click here & for the weekly charts & analysis, please click here.
Daily Zones:
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- Value zones (volume profile) are at 29833-29825-30228
Hypos / Estimates for the next session:
a) BNF needs to get above 30216 & sustain for a move to 30252-265 & 30305
b) Immediate support is at 30140-135 below which the auction could move down to 30085-48 & 29980-960
c) Above 30305, BNF could probe higher to 30355-385 & 30475
d) Below 29960, lower levels of 29910-890 & 29825 could be tested
e) If 30475 is taken out, the auction can rise to 30544 & 30593
f) Break of 29825 could bring 29760-735 & 29650-625 on the downside
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