Nifty May F: 9034 [ 9162 / 8976 ]
HVNs – (8964) / 9078 / 9212 / 9320
NF opened higher but once again stalled near the zone of 9170-80 in the IB (Initial Balance) where it made a very narrow range of just 53 points playing out a typical OAOR characteristic but saw a good move later as it made multiple REs (Range Extension) lower completing a 3 IB Day Down as it made lows of 8976 taking support at Friday’s POC before closing at 9034 leaving a Double Distribution profile with the extension handle of 9067 seperating the 2 distributions of the day. The auction has been in a range forming a balance over the last 4 days after it moved away from that POC of 8890 on 20th May and the current composite can be viewed on MPLite here.
- The NF Open was a Open Aution Out Of Range (OAOR)
- The day type was a Double Distribution Day – DD (3 IB Day)
- Largest volume was traded at 9139 F
- Vwap of the session was at 9074 with volumes of 157.7 L and range of 186 points as it made a High-Low of 9162-8976
- NF confirmed a multi-day FA at 8852 on 20/05 and tagged the 1 ATR objective of 9053 on the same day. The 2 ATR target comes to 9252
- NF confirmed a multi-day FA at 9180 on 18/05 and almost tagged the 2 ATR objective of 8810 on the same day. This FA has not been tagged & is now important supply point..
- NF had confirmed a multi-day FA at 8706 on 09/04 and tagged the 2 ATR objective of 9756 on 30/04. This FA has not been tagged & is now important support.
- The Trend Day VWAP of 8667 would be important support level.
- The settlement day Roll Over point (May) is 9822
- The VWAP & POC of Apr Series is 8999 & 9010 respectively.
- The VWAP & POC of Mar Series is 9146 & 8592 respectively.
- The VWAP & POC of Feb Series is 11944 & 12125 respectively.
- Value zones (volume profile) are at 9042-9139-9160
Main Hypos for the next session:
a) NF needs to sustain above 9045 for a rise to 9067-96 / 9116-39 / 9160-70 / 9186-9213* & 9238-52
b) The auction remains weak below 9030 and could test 9010-8980 / 8965-45 / 8924-16 / 8888-52 & 8826-10
c) Above 9252, NF can probe higher to 9272-82 / 9312-20 / 9356-66 / 9385-9400* / 9420 & 9444-60
d) Below 8810, the auction can fall further to 8792-60* / 8721-06 / 8686 / *8667*-48 & 8619-06
BankNifty May F: 17445 [ 17690 / 17261 ]
HVNs – (17620) / 18070 / (18800) / (19220) / 19600-620 / 19800
BNF also opened higher but was stuck all day in a narrow range of just 428 points leaving an inside bar along with a Neutral Gaussian profile with a FA at day’s high of 17690. It could give a move away from here to either tag the VPOCs of 17120 & 16840 on the downside or the VPOC of 18060 on the upside in the coming session(s).
- The BNF Open was a Open Auction In Range (OAIR)
- The day type was a Neutral Day – Inside Bar (Gaussian profile)
- Largest volume was traded at 17560 F
- Vwap of the session was at 17485 with volumes of 68.6 L and range of 428 points as it made a High-Low of 17690-17261
- BNF confirmed a FA at 17690 on 26/05 and the 1 ATR target comes to 16929.
- BNF confirmed a FA at 18175 on 21/05 and tagged the 1 ATR objective of 17407 on 22/05. The 2 ATR target comes to 16639.
- BNF confirmed a FA at 21932 on 30/04 and tagged not just the 1 ATR objective of 21028 but also the 2 ATR target of 20125 on 04/05. This FA has not been tagged and is now positional supply point.
- The settlement day Roll Over point (May) is 21380
- The VWAP & POC of Apr Series is 19605 & 19710 respectively.
- The VWAP & POC of Mar Series is 22104 & 20248 respectively.
- The VWAP & POC of Feb Series is 30692 & 30692 respectively.
- Value zones (volume profile) are at 17433-17560-17590
Main Hypos for the next session:
a) BNF needs to sustain above 17485 for a rise to 17560-620 / 17665-690 / 17770-790 / 17900-974 / 18010-93 & 18144-230
b) The auction remains weak below 17430 and could test 17384-262 / 17185-120 / 17066-005 / 16970-905 / 16840*-770 & 16721-675
c) Above 18230, BNF can probe higher to 18270-358 / 18416-475 / 18535-650 / 18711-751 / 18800*-882 & 18940-19080
d) Below 16675, lower levels of 16635-540 / 16490-395* / 16290 / 16209-170 / 16110-008 & 15906-855 could come into play
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