NF failed to give a follow through to the NeuX close of last Friday as it opened above the NeuX zone high of 16975 and went on to tag the extension handle of 17010 while making a high of 17015 where it once again saw big supply coming back triggering a fall back below 16975 to test the HVN of 16940 where it got swiftly rejected resulting in an A period buying tail and new high of 17069 in the IB.
The auction continued to see two way moves for the rest of the day as it first left a PBL at 16992 in the E TPO testing the A period singles and made couple of REs to the upside in the F & G where it left a PBH at 17095 dropping back to 17000 in the I.
The move back above VWAP in the J TPO then brought about another new RE to the upside in the K period where NF re-visited the FA of 17120 as it made new highs of 17124 and expectedly failed to get any fresh demand which in turn led to another probe lower into the close triggering the 80% Rule in today’s Value.
Click here to view the latest profile in NF on Vtrender Charts
Range for the day was almost similar to the previous session and the auction has formed a nice 2-day composite Gaussian Curve with Value at 17002-17053-17087 and could continue to build on this balance in the coming session unless it gives a move away on initiative volumes.(Click here to view the 2-day composite of NF on Vtrender Charts)
- The NF Open was an Open Auction In Range (OAIR)
- The Day Type was a Normal Variation Day – Up (NV)
- Largest volume was traded at 17014 F
- Vwap of the session was at 17043 with volumes of 108.4 L and range of 184 points as it made a High-Low of 17124-16940
- NF confirmed a FA at 17120 on 24/03 & almost completed the 1 ATR objective of 16926 on same day. The 2 ATR target comes at 16733. This FA got re-visited on 27/03 and showed supply coming back hence is still a valid reference.
- The settlement day Roll Over point (Mar 2023) is 17635
- The VWAP & POC of Feb 2023 Series is 17717 & 17839 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 17001-17014-17069
(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: 39486 [ 39750 / 39337 ]
BNF also opened with a probe higher and even tagged the NeuX VWAP of 39616 but stalled at the yPOC of 39648 leaving similar highs there in the IB triggering a move lower as it even made couple of small REs in the D & E periods making a look down below PDL as it made a low of 39337 but could not sustain.
The auction then remained in the IB leaving another set of poor highs in the G & H TPOs around 39610 and made yet another attempt to break the IBL but once again could only manage 39385 trapping some late shorts leading to a short covering squeeze in the K period where it got above the yPOC of 39648 & hit 24th Mar’s SOC (Scene Of Crime) of 39746 while making a high of 39750.
However, lack of fresh demand in this zone got the OTF sellers to come back strongly pushing BNF down to 39393 in the last 30 minutes before closing around the dPOC of 39432 leaving a Neutral Centre Day with mostly overlapping Value hence forming a nice 2-day Gaussian Curve with Value at 39414-39432-39652 (Click here to view the 2-day composite of BNF on Vtrender Charts)
- The BNF Open was an Open Auction In Range (OAIR)
- The Day Type was a Neutral Centre Day (NeuC)
- Largest volume was traded at 39432 F
- Vwap of the session was at 39517 with volumes of 45.5 L and range of 413 points as it made a High-Low of 39750-39337
- BNF confirmed a FA at 41765 on 09/03 & completed the 2 ATR objective on the downside of 40732 on 10/03. This FA has not been tagged even after ‘T+6’ Days hence is now a positonal reference.
- The settlement day Roll Over point (Mar 2023) is 40365
- The VWAP & POC of Feb 2023 Series is 40880 & 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 39409-39432-39582
(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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