Nifty Dec F: 17033 [ 17347 / 17000 ]
NF started the day with an OTD (Open Test Drive) as it moved away from the yPOC of 17087 and went on to scale above PDH (Previous Day High) which was also the 26th Nov Trend Day VWAP of 17207 in the A period itself which led to more short covering as the auction negated the extension handles of 17253 & 17302 and made a good C side extension where it made a high of 17347 but stalled just below the initiative selling tail from 26th Nov which was from 17361 to 17429 indicating return of supply. This got more confirmation NF left a small selling tail from 17312 to 17347 and broke below VWAP in the D period which triggered a swift liquidation move which generally happens when the VWAP of a Drive Open is broken leading to a RE (Range Extension) to the downside as the auction confirmed a FA (Failed Auction) at 17347 and went on to make a low of 17000 in the E period taking support in previous day’s buying singles. This huge drop of 347 points in just over 60 minutes then led to a balance being formed for the rest of the day with couple of failed attempts to get back above VWAP resulting in a PBH at 17199 in the J period and a re-visit to the lows of the day into the close leaving a Neutral Extreme (NeuX) profile. Value for the day was overlapping on both sides but the NeuX zone on watch for the next open would be from 17000 to 17068 with today’s VWAP of 17144 & the FA of 17347 being the new positional references for this series. On the larger timeframe NF has also made a 3-day balance with Value at 17020-17162-17225.
Click here to view the latest profile in NF on MPLite
- The NF Open was a Open Test Drive – Up (OTD) which failed
- The Day type was a Neutral Extreme Day – Down (NeuX)
- Largest volume was traded at 17018 F
- Vwap of the session was at 17144 with volumes of 154.5 L and range of 347 points as it made a High-Low of 17347-17000
- The settlement day Roll Over point (December) is 17600
- The VWAP & POC of Nov Series is 17635 & 17961 respectively.
- The VWAP & POC of Oct Series is 18036 & 18155 respectively.
- The VWAP & POC of Sep Series is 17519 & 17365 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 17005-17018-17191
HVNs – 17160 / 17533
Business Areas for 01st Dec:
Up
17068 – NeuX Zone high
17144 – NeuX VWAP from 30th Nov
17199 – PBH (Pull Back High) from 30th Nov
17255 – SOC (Scene Of Crime) from 30th Nov
17312 – Selling singles from 30th Nov
17347 – FA from 30th Nov
Down
17018 – dPOC from 30th Nov
16972 – A period VWAP from 29th Nov
16930 – Singles mid point
16841 – 2 ATR target from FA of 17347
16762 – 1 ATR from dPOC of 17018
16725 – Weekly 1 ATR objective
(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: 35780 [ 36849 / 35646 ]
BNF also opened with a probe away from the yPOC of 36074 as it gave a trending move to the upside scaling above the Trend Day VWAP of 36518 and above it tagging the extension handles of 36625 & 36777 but it was with the help of the dreaded C side extension where it made a high of 36847 stalling just below the initiative selling tail of 36905 to 37094 from 26th Nov. The auction then not only stopped the OTF probe higher but left a responsive selling tail from 36771 to 36849 as it got back into the IB and broke below VWAP which led to major long liquidation and the confirmation of a FA at highs with BNF hitting new lows for the day at 35844 in the E period. This 1000 point drop then led to a narrow range balance being formed below VWAP for the rest of the day with couple of PBHs at 36318 & 36231 confirming that the sellers were more in control and they made one final push lower into the close resulting in new lows of 35645 and a Neutral Extreme Day Down. Value was overlapping at both ends giving a nice 2-day balance with Value at 35849-36155-36424 with the immediate NeuX zone on watch for the next open would be from 35844 to 35646.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Test Drive – Up (OTD) which failed
- The Day type was a Neutral Extreme Day – Down (NeuX)
- Largest volume was traded at 36165 F
- Vwap of the session was at 36249 with volumes of 55.3 L and range of 1203 points as it made a High-Low of 36849-35646
- BNF confirmed a FA at 36849 on 30/11 and tagged the 1 ATR objective of 36189 on the same day. The 2 ATR target comes to 35529.
- The settlement day Roll Over point (December) is 37555
- The VWAP & POC of Nov Series is 38047 & 39404 respectively.
- The VWAP & POC of Oct Series is 39368 & 41157 respectively.
- The VWAP & POC of Sep Series is 37210 & 36633 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 35813-36165-36531
HVNs – 36173 / 37750
Business Areas for 01st Dec:
Up
35844 – NeuX Zone high
36025 – Previous Week Low
36249 – NeuX VWAP from 30th Nov
36424 – VAH of 2-day composite
36685 – SOC (Scene Of Crime) from 30th Nov
Down
35720 – HVN from 30th Nov
35529 – 2 ATR from FA of 36849
35353 – Weekly 1 ATR from 36849
35084 – 1 ATR from 35780
34953 – 1.5 weekly IB target
(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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