Nifty Sep F: 16942 [ 16960 / 16775 ]
NF not only opened above the FA of 16745 but confirmed a Drive Up as it almost tagged the 1 ATR objective on the upside of 16877 in the IB (Initial Balance) itself where it left a long buying tail from 16847 to 16775. The auction then made a C side extension where it made new highs of 16890 and took a breather for a few periods building volumes at 16860 before making a fresh RE (Range Extension) in the ‘H’ period which eventually led to the 2 IB target of 16951 being hit into the close as NF closed in a spike from 16933 to 16960 which will be the reference zone for the next open with today’s VWAP of 16880 being an important support level for this new series.
Click here to view the latest profile in NF on MPLite
- The NF Open was a Open Auction Out of Range plus Drive Up (OAOR + D)
- The Day type was a Normal Variation Day – Up (with a spike close)
- Largest volume was traded at 16857 F
- Vwap of the session was at 16880 with volumes of 56.3 L and range of 185 points as it made a High-Low of 16960-16775
- NF confirmed a FA at 16745 on 25/08 and tagged the 1 ATR objective of 16603 on 27/08. This FA not only got negated on 30/08 but NF tagged the 1 ATR objective of 16877 on the upside. The 2 ATR target up comes to 17007.
- The settlement day Roll Over point (September) is 16642
- The VWAP & POC of Aug Series is 16392 & 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 16832-16857-16939
Business Areas for 31st Aug:
Up
16961 – Spike High from 30th Aug
17007 – 2 ATR target from negated FA of 16745
17045 – Weekly 2 IB objective
Down
16933 – Spike Low from 30th Aug
16880 – VWAP from 30th Aug
16847 – Buying singles from 30th Aug
(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: 36479 [ 36532 / 35820 ]
BNF gave the expected move away from the 4-day composite as it not only opened higher with an OL (Open=Low) start right at the composite VAH of 35817 but made a trending move higher for the first 3 periods with the help of couple of buying extension handles at 35970 & 36092 and forming a high of 36263 in the ‘C’ period. The auction then gave a small pull back to 36122 in the ‘E’ period and built volumes at 36192 till the ‘H’ period after which it gave a fresh RE to the upside in the ‘I’ period which triggered the second round of the upmove for the day as BNF went on to complete the 2 IB objective of 35365 with ease in the ‘J’ period as it left the 3rd extension handle of the day at 36305 and continued this probe higher into the close as it hit 36532 and in the process shifted the dPOC also higher to 36496 which will be the reference on the upside for the next open whereas the immediate zone to watch on the downside would be the singles from 35406 to 35305.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Auction Out of Range (OAOR)
- The Day type was a Double Distribution Trend Day – Up (DD)
- Largest volume was traded at 36496 F
- Vwap of the session was at 36230 with volumes of 39.2 L and range of 712 points as it made a High-Low of 36532-35820
- The settlement day Roll Over point (September) is 35699
- The VWAP & POC of Aug Series is 35663 & 35866 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 36119-36496-36530
Business Areas for 31st Aug:
Up
36496 – dPOC from 30th Aug
36726 – Weekly 1.5 objective
37033 – Weekly ATR target
Down
36406 – PBL (Pull Back Low) from 30th Aug
36230 – VWAP from 30th Aug
35935 – Buying Singles from 30th Aug
(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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