Nifty Sep F: 16718 [ 16730 / 16574 ]
NF opened the day with a probe lower as it not only completed the 1 ATR objective of 16603 from the FA of 16745 but almost tagged the 24th Aug VPOC of 16569 as it made a low of 16574 and gave a swift rejection back to the upside for the rest of the IB (Initial Balance) where it confirmed a buying tail from 16606 to 16574 indicating that the PLR (Path of Least Resistance) had changed to the upside. The auction then made an OTF (One Time Frame) higher all day negating the previous day’s C side extension failure of 16701 and getting above the VPOC of 16708 as it formed similar highs of 16730 in the last 3 periods and in the process shifted the dPOC also higher to 16710 which will be the immediate reference along with the PBL (Pull Back Low) of 16692 below which today’s VWAP will be the important level to watch if the buyers want to continue their dominance in the coming session(s).
Click here to view the latest profile in NF on MPLite
- The NF Open was a Open Rejection Reverse – Down (which failed) – (ORR)
- The Day type was a Normal Variation Day – Up (NV)
- Largest volume was traded at 16710 F
- Vwap of the session was at 16669 with volumes of 61.4 L and range of 156 points as it made a High-Low of 16730-16574
- NF confirmed a FA at 16745 on 25/08 and tagged the 1 ATR objective of 16603 on 27/08. The 2 ATR target comes to 16460.
- The settlement day Roll Over point (September) is 16642
- The VWAP & POC of Aug Series is 16392 & 16255 respectively.
- The VWAP & POC of Jul Series is 15778 & 15820 respectively.
- The VWAP & POC of Jun Series is 15721 & 15721 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 16642-16710-16729
Business Areas for 30th Aug:
Up
16722 – Selling singles from 25th Aug
16745 – FA (Failed Auction) from 25th Aug
16833 – 1 ATR objective from 16701
Down
16692 – PBL (Pull Back Low) from 27th Aug
16669 – VWAP from 27th Aug
16606 – Buying singles from 27th Aug
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Sep F: 35725 [ 35817 / 35471 ]
BNF seemed to give an Open Test Drive to the downside as it got rejected from just below the yPOC of 35743 and not only broke below the 2-day composite VAL of 35686 but probed below previous day’s low of 35563 and tested the buying zone from 24th Aug while making a low of 35471 in the ‘A’ period. The demand seemed to have returned here as the auction left a small buying tail in the IB and made a slow move back into the 3-day composite Value triggering the 80% Rule which it almost completed in the ‘K’ period by hitting 35817. BNF has now turned the 2-day 3-1-3 profile now to a nice 4-day composite Gaussian Curve with Value at 35606-35743-35817 with a close right at the prominent POC of this balance and looks set to give a move away from here in the coming session(s).
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Test Drive – Down (which failed) – (OTD)
- The Day type was a Normal Variation Day – Up (NV)
- Largest volume was traded at 35754 F
- Vwap of the session was at 35666 with volumes of 28.8 L and range of 346 points as it made a High-Low of 35817-35471
- The settlement day Roll Over point (September) is 35699
- The VWAP & POC of Aug Series is 35663 & 35866 respectively.
- The VWAP & POC of Jul Series is 35105 & 34804 respectively.
- The VWAP & POC of Jun Series is 35012 & 35070 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 35611-35754-35787
Business Areas for 30th Aug:
Up
35817 – Composite VAH of 4-day composite
35923 – Selling singles from 25th Aug
36070 – Extension Handle from 18th Aug
36200 – VPOC from 18th Aug
Down
35632 – PBL (Pull Back Low) from 27th Aug
35512 – Buying singles from 27th Aug
35416 – Extension handle from 24th Aug
35271 – Initial Tail from 24th Aug
(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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