Nifty Sep F: 16858 [ 17033 / 16833 ]
NF made the transition from balance to imbalance with a big gap down open of 156 points as it negated the 2-month old extension handle of 16852 from 28th Jul and made a low of 17835 where it found some demand coming back triggering a probe higher for the rest of the IB and a dreaded C side extension to 16975 which gave a retracement to the day’s VWAP leaving a PBL at 16892 just above the A period buying tail from 16886 to 16835 indicating that the PLR (Path of Least Resistance) was to the upside.
The auction then made a fresh RE (Range Extension) higher in the E period and followed it with an entry into the 2-day composite Value in the F but could only tag 17033 which was also the 1.5 IB target stalling just below the POC of 17036 and left a responsive selling tail marking the return of aggressive supply which made a trending move lower for the rest of the day hitting marginal new lows of 16833 into the close leaving a Neutral Extreme Down profile with mostly lower Value.
Click here to view the latest profile in NF on MPLite
- The NF Open was an Open Auction Out of Range (OAOR)
- The Day type was a Neutral Day (NeuD)
- Largest volume was traded at 16954 F
- Vwap of the session was at 16925 with volumes of 120.6 L and range of 200 points as it made a High-Low of 17033-16833
- The settlement day Roll Over point (Sep 2022) is 17580
- The VWAP & POC of Aug 2022 Series is 17530 & 17530 respectively.
- The VWAP & POC of Jul 2022 Series is 16556 & 15976 respectively.
- The VWAP & POC of Jun 2022 Series is 15895 & 15793 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 16884-16954-17021
HVNs -17364 / 17598 / 17673**
(** indicates series POC)
Business Areas for 29th Sep 2022:
Up
16860 – Closing HVN (28 Sep)
16916 – LVN from 28 Sep
16954 – dPOC from 28 Sep
17003 – PBH from 28 Sep
17037 – VPOC from 27 Sep
17080 – SOC from 27 Sep
Down
16850 – M TPO POC (28 Sep)
16815 – Buying Singles (28 Jul)
16767 – Singles mid-point (28 Jul)
16719 – Closing singles (27 Jul)
16666 – HVN from 27 Jul
16629 – Trend Day VWAP (27 Jul)
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Sep F: 37810 [ 38410 / 37672 ]
BNF also opened with a big gap down of 366 points & broke below 08th Aug Swing Low of 37914 while making a low of 37855 in the opening minutes but reversed the probe to the upside for the rest of the IB as it made a high of 38300 stalling just below previous day’s buying tail.
The auction then made a retracement lower in the C & D periods breaking below the day’s VWAP and left a PBL at 37925 indicating morning buyers defending the A TPO singles and not only got back above VWAP but went on to make a RE in the F period getting back into previous Value but was swiftly rejected as seen in the responsive selling tail it left from 38349 to 38410 marking the return of sellers.
BNF then left a PBH at 38310 in the I period giving more confirmation that the PLR was to the downside & made a trending move for the rest of the day leaving an extension handle at 37855 & making a low of 37672 forming a Neutral Extreme Day Down.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was an Open Auction Out of Range (OAOR)
- The Day type was a Neutral Extreme Day – Down (NeuX)
- Largest volume was traded at 38576 F
- Vwap of the session was at 38640 with volumes of 40.8 L and range of 809 points as it made a High-Low of 39079-38270
- The settlement day Roll Over point (Sep 2022) is 39035
- The VWAP & POC of Aug 2022 Series is 38530 & 38320 respectively.
- The VWAP & POC of Jul 2022 Series is 35427 & 35099 respectively.
- The VWAP & POC of Jun 2022 Series is 33969 & 33498 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 37939-38107-38283
HVNs – 38423 / 39389 / 39515 / 39900 / 40654** / 40817
(** indicates series POC)
Business Areas for 29th Sep 2022:
Up
37925 – SOC from 28 Sep
38081 – NeuX VWAP (28 Sep)
38205 – HVN from 28 Sep
38349 – Selling singles
38440 – HVN from 27 Sep
38576 – VPOC from 27 Sep
Down
37800 – Buying singles (28 Sep)
37672 – NeuX Low (28 Sep)
37544 – Singles mid-point (04 Aug)
37410 – Extension Handle ( 28 Jul)
37279 – Buying Singles (28 Jul)
37100 – Singles Mid-point
(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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