Nifty Dec F: 18694 [ 18742 / 18566 ]
NF opened lower & made a look down below the FA of 18581 almost tagging 24th Nov’s extension handle of 18555 as it made a low of 18566 but got swiftly rejected confirming an ORR (Open Rejection Reverse) start to the upside triggering the 80% rule in previous Value which it completed in the A period itself and left an initiative buying tail from 18658 to 18566.
The auction then continued to make a slow OTF (One Time Frame) probe higher till the J period where it completed the Weekly 1.5 objective of 18739 and just fell short of the daily 1.5 IB target of 18743 marking the high of the day at 18742 before dropping back to 18680 into the close forming a ‘p’ shape profile with completely higher Value and an outside day.
Click here to view the latest profile in NF on MPLite
- The NF Open was an Open Rejection Reverse – Up (ORR)
- The Day type was a Normal Variation Day – Up (‘p’ shape profile)
- Largest volume was traded at 18721 F
- Vwap of the session was at 18692 with volumes of 61.5 L and range of 176 points as it made a High-Low of 18742-18566
- NF confirmed a FA at 18581 on 25/11 but needs to sustain above 18651 for the 1 ATR objective of 18726. This FA got revisited at open on 28/11 and was swiftly rejected indicating support.
- The settlement day Roll Over point (Dec 2022) is 18650
- The VWAP & POC of Nov 2022 Series is 18220 & 18336 respectively.
- The VWAP & POC of Oct 2022 Series is 17350 & 17260 respectively.
- The VWAP & POC of Sep 2022 Series is 17500 & 17643 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 18677-18721-18734
HVNs – 18645
(** indicates series POC)
Business Areas for 29th Nov 2022:
Up
18708 – Closing HVN
18759 – 1 ATR from 18619
18818 – 3 IB Weekly objective
18863 – 1 ATR from 18721
18899 – 2 ATR from 18619
18935 –
Down
18692 – VWAP from 28 Nov
18658 – Buying Tail (28 Nov)
18619 – dPOC from 25 Nov
18566 – Weekly FA
18513 – VPOC from 24 Nov
18451 – IB singles mid
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Dec F: 43275 [ 43400 / 43050 ]
BNF also opened the day with a probe below previous lows as it hit 43050 but took support in the A period buying tail of 24th Nov and left a small initiative buying tail till 43120 after which it formed a balance in a narrow range of just 87 points till the E period.
The auction then made the DD (Double Distribution) time RE to the upside in the F, G & H TPOs where it completed the 2 IB objective of 43365 while making a high of 43400 but left a small responsive selling tail and saw the dPOC shift higher to 43348 before giving a dip down to 43236 into the close leaving a DD type profile for the day completing a nice 2-day balance with Value at 43194-43284-43374 with a close around the composite POC. (Click here to view the 2-day balance in BNF on MPLite )
Click here to view the latest profile in BNF on MPLite
- The BNF Open was an Open Auction (OA)
- The Day type was a Double Distribution Trend Day – Up (DD)
- Largest volume was traded at 43348 F
- Vwap of the session was at 43252 with volumes of 20.4 L and range of 350 points as it made a High-Low of 43400-43050
- The settlement day Roll Over point (Dec 2022) is 43331
- The VWAP & POC of Nov 2022 Series is 42018 & 41376 respectively.
- The VWAP & POC of Oct 2022 Series is 39750 & 38950 respectively.
- The VWAP & POC of Sep 2022 Series is 39910 & 40770 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 43302-43348-43399
HVNs – 42955
(** indicates series POC)
Business Areas for 29th Nov 2022:
Up
43284 – 2-day composite POC
43374 – 2-day VAH
43472 – Selling Tail (25 Nov)
43588 – 1 ATR from 43284
43754 – 1.5 Weekly IB
43892 – 2 ATR from yPOC
Down
43252 – VWAP from 28 Nov
43120 – Buying Tail (28 Nov)
43050 – PDL
42932 – VWAP from 23 Nov
42814 – IB singles mid
42686 – Extension Handle (22 Nov)
(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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