Nifty Sep F: 17748 [ 17904 / 17586 ]
NF opened higher but got rejected right at yesterday’s extension handle of 17904 and left an initiative selling tail in the IB (Initial Balance) from 17877 to 17904 to give a huge trending move lower once it made a RE (Range Extension) in the ‘D’ period where it negated the singles zone of 17790 to 17815 and substantiated with a selling extension handle at 17780 in the ‘F’ period accelerating the fall as the auction not only broke below the 23rd Sep Trend Day VWAP of 17757 but also closed the gap up of that day as it tagged the mid-point of 17615 while making a low of 17586 stalling just above the prominent TPO POC of 17575 from 22nd Sep. The ‘K’ period then confirmed a small responsive buying tail from 17608 to 17586 which led to a big short covering bounce into the close as NF almost got back to 17780 before closing around the dPOC of 17754 leaving an elongated profile of 318 points for the day. Value was completely lower and the auction would remain weak below today’s VWAP of 17729 in the next session for a probe towards the HVNs of 17694 & 17645 below which we have the buying singles and the 22d VPOC of 17568 whereas on the upside, the extension handle of 17780 along with today’s initiative selling tail of 17877 to 17904 would be the levels to watch for the coming session(s).
Click here to view the latest profile in NF on MPLite
- The NF Open was a Open Auction In Range (OAIR)
- The Day type was a Trend Day – Down (TD) though close was not around the lows
- Largest volume was traded at 17754 F
- Vwap of the session was at 17729 with volumes of 120.1 L and range of 318 points as it made a High-Low of 17904-17586
- The settlement day Roll Over point (September) is 16642
- The VWAP & POC of Aug Series is 16455 & 16255 respectively.
- The VWAP & POC of Jul Series is 15778 & 15820 respectively.
- The VWAP & POC of Jun Series is 15721 & 15721 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 17600-17754-17779
HVNs – 16710 / 17126 / 17316 / 17366 / 17402 / 17536
Business Areas for 29th Sep:
Up
17781 – Extension Handle from 28th Sep
17840 – SOC (Scene Of Crime) from 28th Sep
17877 – Selling Singles from 28th Sep
17904 – Extension Handle from 27th Sep
17940 – Selling singles from 27th Sep
Down
17729 – VWAP from 28th Sep
17694 – HVN from 28th Sep
17645 – HVN from 28th Sep
17608 – Buying tail from 28th Sep
17568 – VPOC from 22nd Sep
(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: 38044 [ 38377 / 37351 ]
BNF also opened higher but got rejected from yesterday’s selling tail of 38341 to 38395 as it made a high of 38377 and made a quick move to 38067 in the IB (Initial Balance) taking support in the buying singles of 38096 to 37974. However, the fresh selling singles from 38191 to 38377 and the rejection from yPOC of 38225 meant that the PLR (Path of Least Resistance) was to the downside as the auction made a trending move lower after making a RE in the D period which went on till the ‘K’ TPO as it not only completed the 80% Rule in the 2-day balance of 23rd & 24th Sep but also tested the initiative singles of 37482 to 37273 while making a low of 37351 where it left a small responsive buying tail marking the end of the probe lower. BNF however saw a great comeback by the buyers in the ‘L’ period giving a huge 700+ point bounce to 38173 almost checking the A period singles before giving a close near the dPOC of 37999 leaving an elongated profile of 1026 points which is the highest daily range of over 4 months. Value was mostly lower so today’s POC & VWAP of 37998 & 37886 will be the important references going into the next session which could see filling up of the low volume zone from 38085 to 37446.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Auction In Range (OAIR)
- The Day type was a Trend Day – Down (TD) though close was not around the lows
- Largest volume was traded at 37998 F
- Vwap of the session was at 37886 with volumes of 44.1 L and range of 1026 points as it made a High-Low of 38377-37351
- BNF confirmed a FA at 38225 on 17/09 and completed the 2 ATR objective of 37299 on 20/09. This FA got tagged on 27/09 which was the ‘T+6’th Day & but has not been able to close above it.
- BNF confirmed a FA at 36251 on 07/09 and tagged the 2 ATR objective of 37210 on 16/09. This FA has not been tagged in over ‘T+6’ Days and is now positional reference.
- The settlement day Roll Over point (September) is 35699
- The VWAP & POC of Aug Series is 35715 & 35616 respectively.
- The VWAP & POC of Jul Series is 35105 & 34804 respectively.
- The VWAP & POC of Jun Series is 35012 & 35070 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 37685-37998-38193
HVNs – 35840 / 36749
Business Areas for 29th Sep:
Up
38052 – LVN from 28th Sep
38191 – Selling Singles from 28th Sep
38377 – PDH (Previous Day High)
38606 – Weekly 1.5 IB objective
38753 – 1 ATR from 38225
Down
37998 – POC from 28th Sep
37886 – VWAP from 28th Sep
37685 – VAL from 28th Sep
37446 – Buying Singles from 28th Sep
37322 – 2-day composite VAH (21st to 22nd Sep)
37656 – 2-day composite VAL
(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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