Nifty Nov F:
NF made a lower open below that neutral extreme reference (10614-10650) and first attempted to probe higher but was rejected below that HVN & yPOC of 10640 after which it made new lows for the day repairing the anomaly of 10602 & making a low of 10591 in IB (Initial Balance). After this it again got back above VWAP & a test of yPOC looked to be on but again NF inspite of making a new high for the day & in the process extending IB to the upside could not tag that HVN of 10640 making a high of 10639 & swiftly getting rejected from there back into the IB. It then went on to make Value in yesterday’s low volume zone trading in a very narrow range of around 30 points for couple of hours in the afternoon before it made an attempt to break the lows of the day & in doing so confirmed a FA at 10639 & made a low of 10585 just above that extension handle it had left yesterday at 10584 where it again found buyers & the price was swiftly rejected this time from below IBL. This failure to go below the extension handle empowered the bulls & weakened the sellers resulting in a 70 point move in 5 mins which negated the earlier FA & confirmed a new FA at lows of 10585 in NF & the 1 ATR move from this comes to 10701 which almost got tagged at close. NF also entered & sustained in that selling tail of 10659-10684 so that tail now stands negated & can now act as support. NF gave a pull back low at 10618 which is also today’s HVN & important support going into expiry for this series. We had another Neutral Extreme Up profile today with close around the highs & the Neutral Extreme reference for tomorrow would be 10669-10695. On the upside we have the weekly HVN at 10713 along with a vpoc at 10722 and finally previous week’s VAH of 10750 which can come into play.
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- The NF Open was a Open Auction in Range
- The day type was a Neutral Extreme Day (Up)
- Largest volume was traded at 10618 F
- Vwap of the session was at 10633 with volumes of 154.8 L in a session which traded a High-Low range of 10695-10585 for 110 points
- NF left a new FA at 10585 today and the 1 ATR up target comes to 10701
- The vwap of 29/10 at 10175 is strong support now which was broken intraday but re-captured
- We had a FA at 10111 on 31/10 which has done its 2 ATR objective & is now strong support
- The VWAP & POC of 31/10 10250 & 10248 will be important levels going forward
For the latest weekly and other swing levels of the Nifty go to https://vtrender.in/weekly-charts-market-profile-analysis-19th-to-22nd-nov-2018 and https://vtrender.in/market-profile-analysis-with-monthly-and-weekly-charts/
Daily Zones:
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- Value zones (volume profile) are at 10598-10618-10660
Hypos / Estimates for the next session:
a) The 10662 zone is the new support in the NF
b) Above 10692, NF can do 10723
c) Expecting supply again around 10723 F
d) Below 10660 can drop to 10618
BankNifty Nov F:
BNF opened just below the Neutral Extreme reference of 26334-26386 & tried to probe lower but could not get into yesterday’s Value (VAH was at 26280). After this the PLR turned up & BNF then got back into the spike of previous day & this time not only it went through the entire spike tagging the high of 26386 but went above the previous week’s high of 26410 making a high of 26448. It could not sustain the new highs in spite of staying above IBH for more than an hour which meant there was no new demand & BNF had to probe lower to check for buyers. It then got back into IB range & broke VWAP to again tag yVAH but could not break below it just like the morning attempt. The move back to VWAP was then resisted & looked like sellers had taken over the advantage & new lows in BNF were coming. We did break below yVAH in the next attempt & extended IBL to the downside making a new low of 26240 which was the start of the buying tail we had yesterday (26190-26247) and from where we got swiftly rejected indicating that yesterday’s buyers were still defending this zone. BNF went on to again almost tag the day highs but could not close above that previous week high of 26410 on 30 mins. BNF was making a nice balance in a relatively narrow range so came back down to make a pull back low of 26311 which will be an important level to watch this series. BNF went on to make new highs of 26470 in the last 30 mins but closed near the dPOC. BNF has left yet another FA at lows today at 26240 & the 1 ATR in it comes to 26548. BNF has made Value higher today than the 7-day composite bell it was forming till yesterday but it needs to get fresh demand here to move higher else can again rotate back into that composite bell & lower.
- The BNF Open was an Open Auction in Range
- The day type was a Neutral Day (Bell Profile)
- Largest volume was traded at 26415 F
- Vwap of the session was at 26365 with volumes of 34.2 L in a session which traded a High-Low range of 26470-26240 for 230 points
- BNF confirmed a new FA today at 26240 and the 1 ATR target on up comes to 26548
- BNF had confirmed a FA on 26/11 at 26025 and has closed above the 1 ATR target of 26327 & the 2 ATR up comes to 26628
- BNF confirmed a multi-day FA today at 25811 and tagged the 1 ATR target of 26208 & is currently on T+5 days
- The FA of 13/11 at 25429 is now strong support as has tagged the 2 ATR target of 26230 and closed above it
- BNF has stayed above the vwap of 17/10 which was 25500 and is now support
- We had a FA at 24625 on 31/10 which has completed 1 ATR of 25102 & has stayed above the 2 ATR of 25575
- 31st October’s VWAP of 24895 & POC of 24900 will be important levels going forward
For the weekly and other swing levels of the Bank Nifty go to – https://vtrender.in/weekly-charts-market-profile-analysis-19th-to-22nd-nov-2018 and https://vtrender.in/market-profile-analysis-with-monthly-and-weekly-charts/
Daily Zones:
- Value zones ( volume profile) are at 26330-26415-26435
Hypos / Estimates for the next session:
a) BNF Gaussian and a Neutral Extreme with RS at 26440-460
b) 26460- 26480 is again a supply
c) 26260 and 26200 are now early supports along with 26120
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