Nifty Mar F: 17269 [ 17283 / 17025 ]
NF started the day with an OH (Open=High) at 17220 & confirmed an Open Drive Down along with a move away from the 6-day composite as it broke below PDL (Previous Day Low) in the A period itself & went on to make a low of 17061 in the B leaving a long initiative selling tail from 17104 to 17220 after which it made a RE in the C period where it tagged the FA of 17051 & made a low of 17025 barely closing the gap of 17th Mar.
The auction however could not extend any further inspite of staying below VWAP as it began to form a ‘b’ shape profile for the day building volumes at 17044 till the F TPO before an action packed G period completely reversed the probe to the upside with NF first getting into the A period singles and then back into the 6-day composite Value as it tagged the weekly POC of 17260 in the H TPO.
The similar high of 17263 in the I period indicated minor exhaustion in the upmove and triggered a pull back to 17172 in the I TPO before resuming the upmove into the close as it tagged the composite POC of 17267 while making a high of 17283 into the close leaving a Neutral Extreme Up Day.
Click here to view the latest profile in NF on MPLite
- The NF Open was a Open Drive – Down (OD)
- The Day type was a Neutral Extreme Day – Up (NeuX)
- Largest volume was traded at 17247 F
- Vwap of the session was at 17163 with volumes of 103.4 L and range of 258 points as it made a High-Low of 17283-17025
- NF confirmed a FA at 17051 on 22/03 and tagged the 1 ATR objective of 17351 on the same day. The 2 ATR objective comes to 17650. This FA got tagged on 28/03 which was the ‘T+4’ Day & is no longer a valid reference..
- NF confirmed a FA at 16856 on 16/03 and tagged the 1 ATR objective of 17182 on 17/03. The 2 ATR objective comes to 17508. This FA has not been tagged in ‘T+6’ Days & is now a positional reference..
- The settlement day Roll Over point (March 2022) is 16251
- The VWAP & POC of Feb 2022 Series is 17183 & 17409 respectively.
- The VWAP & POC of Jan 2022 Series is 17669 & 17703 respectively.
- The VWAP & POC of Dec 2021 Series is 17169 & 17240 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 17188-17247-17282
HVN – 16648
(** indicates series POC)
Business Areas for 29th Mar 2022:
Up
17275 – Selling singles (28th Mar)
17315 – Weekly VAH
17359 – 6-day composite VAH
17392 – HVN from 23rd Mar
17433 – Selling Singles (23rd Mar)
17475 – PBH from 17th Feb
17523 – Selling singles (16th Feb)
17591 – 2 ATR from 17025
Down
17247 – dPOC from 28th Mar
17199 – PBH from 28th Mar
17163 – NeuX VWAP (28th Mar)
17104 – SOC from 28th Mar
17044 – HVN from 28th Mar
17014 – Selling tail (25th Mar)
16979 – Extension Handle (16th Mar)
16937 – VPOC from 16th Mar
(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: 35848 [ 35910 / 35080 ]
BNF opened the day with a probe higher to 35695 but was swiftly confirming an Open Test Drive (OTD) to the downside as it broke below previous week’s low & completed the 1 ATR objective of 35186 from the FA of 36057 in the first 15 minutes itself. The auction went on to make a low of 35080 in the IB where it left a long selling tail from 35239 to 35695 stalling just above the 15th Mar HVN of 35070 and began to form a narrow range balance building volumes at 35175 till the F period.
The inability of the sellers to make a RE lower inspite of the strong open then triggered a huge short covering move from the G period onwards as the auction went on to make multiple REs to the upside even giving a mini-spike into the close as it tagged 35910 forming an Outside Day both in terms of range as well as value with a HVN at 35732 in the upper part.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Test Drive – Down (OTD)
- The Day type was a Normal Day (with a mini spike)
- Largest volume was traded at 35175 F
- Vwap of the session was at 35502 with volumes of 40.5 L and range of 529 points as it made a High-Low of 35788-35259
- BNF confirmed a FA at 35475 on 22/03 and tagged the 1 ATR objective of 36328 on the same day. This FA got tagged on 25/03 which was the ‘T+3’ Day and is no longer a valid reference.
- BNF confirmed a FA at 36057 on 24/03 and tagged the 1 ATR objective of 35186 on 28/03. The 2 ATR target comes to 34315.
- The settlement day Roll Over point (March 2022) is 35296
- The VWAP & POC of Feb 2022 Series is 37712 & 37712 respectively.
- The VWAP & POC of Jan 2022 Series is 37772 & 38232 respectively.
- The VWAP & POC of Dec 2021 Series is 36082 & 35100 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 35089-35175-35708
HVNs – 34561 / 34897 / 35070 / 35280 / 35653** / 36451
(** indicates series POC)
Business Areas for 29th Mar 2022:
Up
35910 – Spike high (28th Mar)
36057 – FA from 24th Mar
36150 – Weekly 1.5 IB
36254 – VPOC from 23rd Mar
36390 – PBH from 23rd Mar
36495 – PBH from 23rd Mar
36612 – PBH from 23rd Mar
36738 – Selling Singles (23rd Mar)
Down
35840 – Spike low (28th Mar)
35732 – HVN from 28th Mar
35576 – PBL from 28th Mar
35492 – VWAP from 28th Mar
35368 – Weekly VAH
35238 – SOC from 28th Mar
35125 – PBL from 28th Mar
34935 – Monthly IBL
(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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