Nifty Jun F:
NF opened as an OAIR but showed strength as it left singles in the A period to get above the previous day’s PBH (Pull Back High) of 11933 in the IB. The auction then consolidated till the ‘E’ period making a ‘p’ profile after which it made a fresh Range Extension to the upside and made a one time frame probe higher till the ‘J’ period as it made a high of 12002. The ‘J’ period however made an outside bar which signaled the end of the OTF up and NF made a dip to VWAP breaking below it in the ‘L’ period as it left an important Pull Back Low (PBL) at 11946 to close around the dPOC of 11980. The Value for the day was once again overlapping and we now have a 4-day Gaussian profile in NF with Value at 11935-11980-11989 as the new series begins.
- The NF Open was a Open Auction In Range (OAIR)
- The day type was a Normal Variation Day – Up (‘p’ profile)
- Largest volume was traded at 11980 F
- Vwap of the session was at 11962 with volumes at 107.7 L in a session of 106 points trading in a High-Low range of 12002-11896
- NF confirmed a multi-day FA at 12012 on 29/05 & the 1 ATR move down comes to 11831
- The settlement day Roll Over point is 11946
- The VWAP & POC of Apr Series is 11641 & 11592 respectively.
- The VWAP & POC of Mar Series is 11327 & 11448 respectively.
- The VWAP & POC of Feb Series is 10830 & 10856 respectively.
NF (Jun) Composite Chart from 20th May:
You can check the monthly charts & other swing levels for Nifty & NF here & for the weekly charts & analysis, please click here.
Daily Zones:
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- Value zones (volume profile) are at 11956-11980-11998
Hypos / Estimates for the next session:
a) NF has a HVN at 11980 so sustaining above it can tag 12006-12 & 12035-50
b) Staying below 11980, the auction can test 11965-955 & 11936-927
c) Above 12050, NF can probe higher to 12073-96 & 12115
d) Below 11927, NF can fall to 11900 & 11872
e) If 12115 is taken out, higher levels of 12139-141 & 12180-194 open up
f) Break of 11872 can trigger a move lower to 11830-825 & 11800-795
BankNifty Jun F:
BNF made a ORR start as it opened below PDL (Previous Day’s Low) but was rejected back with singles in the ‘A’ period from 31334 to 31424. The auction made a ‘C’ side range extension to the upside after which it gave a dip in the ‘D’ period to make a PBL of 31470 after which BNF made a one time frame move higher till the ‘J’ period as it made a high of 31696 completing an outside bar on daily. BNF then probed lower breaking below VWAP to test the morning PBL as as it left a new pull back low at 31465 in the ‘L’ period to close around the dPOC of 31610. The Value for the day was once again overlapping and we now have a 4-day Gaussian profile in BNF with Value at 31467-31593-31641 as the new series begins.
- The BNF Open was a Open Rejection Reverse (Up)
- The day type was a Normal Variation Day (Up)
- Largest volume was traded at 31610 F
- Vwap of the session was at 31558 with volumes at 17.2 L in a session which traded a High-Low range of 31697-31334 for a range of 363 points
- BNF confirmed a multi-day FA at 31775 on 29/05 & the 1 ATR move down comes to 31197
- The settlement day Roll Over point is 31530
- The VWAP & POC of Apr Series is 30037 & 29762 respectively.
- The VWAP & POC of Mar Series is 29061 & 29778 respectively.
- The VWAP & POC of Feb Series 27042 & 26978 respectively
BNF (Jun) Composite Chart from 20th May:
For the Monthly charts & other swing levels for BankNifty & BNF click here & for the weekly charts & analysis, please click here.
Daily Zones:
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- Value zones (volume profile) are at 31511-31610-31682
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Hypos / Estimates for the next session:
a) BNF needs to get above 31641-650 for a move to 31699 & 31775
b) Immediate support is at 31580-550 below which the auction can test 31470-455 & 31400-350
c) Above 31775 BNF can probe higher to 31854 & 31910
d) Below 31350, BNF can move lower to 31275-240 & 31150-120
e) If BNF sustains above 31910, higher levels of 31985 & 32058-82 could open up
f) Break of 31120 could trigger a move down to 31020 & 30965
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