Nifty Mar F: 17498 [ 17555 / 17392 ]
NF opened lower and got rejected from just below the yPOC of 17558 when it made an attempt to probe higher leaving a small initiative selling tail from 17555 to 17523 and went on to make new lows of 17405 in the IB.
The auction however failed to make a meaningful extension lower inspite of making multiple attempts in the C, D & H TPOs only managing to make marginal new lows of 17392 and this triggered a short covering bounce to 17512 into the close forming a Normal Day with completely lower Value.
Click here to view the latest profile in NF on MPLite
- The NF Open was an Open Auction (OA)
- The Day Type was a Normal Day (‘b’ shape profile)
- Largest volume was traded at 17506 F
- Vwap of the session was at 17463 with volumes of 86.6 L and range of 163 points as it made a High-Low of 17555-17392
- The settlement day Roll Over point (Mar 2023) is 17635
- The VWAP & POC of Feb 2023 Series is 17779 & 17837 respectively.
- The VWAP & POC of Jan 2023 Series is 17923 & 18132 respectively.
- The VWAP & POC of Dec 2022 Series is 18337 & 18584 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 17429-17506-17510
HVNs – 17690
(** indicates series POC)
Business Areas for 28th Feb 2023:
Up
17513 – Weekly IBL
17558 – VPOC (24 Feb)
17592 – VWAP from 24 Feb
17635 – Mar series RO point
17661 – Selling Tail (24 Feb)
17700 – Weekly IBH
17742 – VWAP from 22 Feb
Down
17496 – LVN from 27 feb
17460 – HVN from 27 Feb
17420 – HVN-2 (27 feb)
17394 – Buying Tail (20 Oct)
17350 – Oct Series VWAP
17304 – HVN from 17 Oct
17260 – Monthly VPOC
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Mar F: 40547 [ 40600/ 39982 ]
BNF opened lower & broke below previous lows but stopped just above 23rd Feb’s buying tail from 39975 as it made a low of 39982 & confrimed an ORR (Open Rejection Reverse) Up as it not only got back into previous day’s range but went on to complete the 80% Rule in the 3-day composite Value of 40149 to 40446 in the E period.
The auction then remained above VWAP for the rest of the day & continued to make REs higher into the close leaving a small spike from 40541 to 40600 forming yet another session of overlapping Value making this a nice 4-day Gaussian Curve at 40158-40356-40473 and looks set for that move away from this balance. (Click here to view the 4-day composite balance of BNF)
Click here to view the latest profile in BNF on MPLite
- The BNF Open was an Open Rejection Reverse – Up (ORR)
- The Day Type was a Normal Variation Day – Up (with a mini spike)
- Largest volume was traded at 40466 F
- Vwap of the session was at 40345 with volumes of 38 L and range of 618 points as it made a High-Low of 40600-39982
- The settlement day Roll Over point (Mar 2023) is 40365
- The VWAP & POC of Feb 2023 Series is 41031 & 41462 respectively.
- The VWAP & POC of Jan 2023 Series is 41965 & 42320 respectively.
- The VWAP & POC of Dec 2022 Series is 43030 & 43128 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 40192-40466-40511
HVNs – 40365
(** indicates series POC)
Business Areas for 28th Feb 2023:
Up
40571 – Selling tail (27 Feb)
40665 – Selling Tail (22 Feb)
40757 – IB Singles mid (22 Feb)
40861 – 21 Feb singles
40975 – VPOC from 21 Feb
41144 – Weekly 2 IB target
Down
40541 – Spike low (27 Feb)
40473 – 4-day comp VAH
40356 – 4-day comp POC
40176 – SOC from 27 Feb
40093 – Buying Tail (27 Feb)
39975 – Buying Tail (23 Feb)
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
For more tradeable ideas and intraday trading strategies based on MarketProfile and the OrderFlow live charts with OrderFlow analysis Live, subscribe to the trading room. The Vtrender Trading Room hosts India’s largest MarketProfile community live every trading session from 9.15 am to 3.30 pm.
If not a Trading Room member you can get immediate access at – https://www.explara.com/e/vtrendertradingroomlive
