Nifty Jul F: 15735 [ 15870 / 15693 ]
NF opened a bit higher with an OL (Open=Low) start at 15840 and went on to test the first business area of 15861 as it made a high of 15870 but could not get above the composite VAH of 15873 leaving one of the most narrow IB (Initial Balance) range of just 30 points along with similar lows in the ‘B’ period. The auction then made an attempt to probe higher in the ‘C’ period but could only match the opening high of 15870 indicating exhaustion and this empowered the sellers to strike and they started with couple of small REs in the ‘D’ & ‘E’ periods after which they hit top gear in the ‘G’ period where it left an extension handle at the yPOC of 15820 & went on to swipe through the composite Value of 15789-15817-15873 and continued the fall in the ‘H’ period where it negated the buying tail of 15751 to 15700 (22nd July) almost completing the 6 IB target of 15690 marking the end of the imbalance. NF then remained in the range of 15760 to 15700 for the rest of the day forming a DD (Double Distribution) Trend Day Down building volumes at 15735 where the dPOC shifted into the close and would be the reference for the next open. The DD zone is from 15782 to 15820 which would be the reference on the upside but the PLR (Path of Least Resistance) would be towards the VPOC of 15632 if the auction sustains below today’s low in the coming session.
Click here to view the latest profile in NF on MPLite
- The NF Open was a Open Auction In Range (OAIR)
- The Day type was a Double Distribution Trend Day – Down (DD)
- Largest volume was traded at 15735 F
- Vwap of the session was at 15773 with volumes of 71.7 L and range of 177 points as it made a High-Low of 15870-15693
- The settlement day Roll Over point (July) is 15840
- The VWAP & POC of Jun Series is 15721 & 15721 respectively.
- The VWAP & POC of May Series is 14945 & 15094 respectively.
- The VWAP & POC of Apr Series is 14576 & 14375 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 15699-15735-15817
Business Areas for 28th July:
Up
15775 – VWAP of DD from 27th Jul
15820 – Selling Extension Handle from 27th Jul
15866 – HVN from 27th Jul
Down
15700 – Buying singles from 27th Jul
15632 – VPOC from 20th Jul
15598 – Resposive Buying from 20th July
(The are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Jul F: 34818 [ 35188 / 34710 ]
BNF also opened higher and went on to probe above the PBH of 35083 and formed new highs for the week at 35178 in the IB but made the dreaded C side extension making marginal new highs of 35188 but got swiftly rejected from just below the 19th Jul VWAP of 35210 resulting in an OTF (One Time Frame) probe lower for the next 5 periods as the auction not only got back into the 3-day composite of 34763-34963-35079 and left an extension handle at 34975 confriming a FA (Failed Auction) at the top and went on to complete the 80% Rule in the above mentioned Value and along with it also tagged the 1 ATR objective of 34732 from the FA while making a low of 34710. The auction then remained in the range of the ‘H’ TPO for the rest of the day forming a lower balance and similar to NF, brought the dPOC lower to 34828 into the close leaving a DD (Double Distribution) Day with a small tail in middle of the profile from 34935 to 34975. Value as well as range extended on both sides leaving an outside bar so it remains to be seen if BNF moves away from this balance or continues to fill up the slightly low volume zone of 34740 to 34965 before starting a fresh imbalance.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Auction In Range (OAIR)
- The Day type was a Double Distribution Trend Day – Down plus Neutral Extreme (DD + NeuX)
- Largest volume was traded at 34828 F
- Vwap of the session was at 34954 with volumes of 29.4 L and range of 478 points as it made a High-Low of 35188-34710
- The settlement day Roll Over point (July) is 35000
- BNF confirmed a FA at 35188 on 27/07 and tagged the 1 ATR of 34732 on the same day. The 2 ATR target comes to 34276.
- The VWAP & POC of Jun Series is 35012 & 35070 respectively.
- The VWAP & POC of May Series is 33568 & 34828 respectively.
- The VWAP & POC of Apr Series is 33260 & 32490 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 34712-34828-35079
Business Areas for 28th July:
Up
34954 – VWAP of DD of 27th July
35188 – FA (Failed Auction) of 27th July
35430 – Selling tail from 19th Jul
Down
34665 – Pull Back Low (PBL) from 23rd Jul
34405 – Swing low from 23rd Jul
34210 – Buying singles from 18th Jun
(The 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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