Nifty Sep F: 17122 [ 17144 / 16922 ]
NF opened with a freak tick at 16892 but immediately made a probe above the spike zone of 16933 to 16960 as it made new ATH of 16999 in the A period getting stalled at the Big Round Number of 17000 after which it began to coil for the next couple of hours with the range getting narrower with each TPO till the ‘E’ period. The auction then made a small RE (Range Extension) to the upside in the ‘F’ period where it tagged 17008 completing the 2 ATR target from the negated FA of 16745 and followed it up with higher highs in the next 3 periods as it hit 17069 almost completing the 2 IB objective of 17076 and this triggered a profit booking retracement to the combo of the day’s VWAP as well as IBH with NF confirming a PBL (Pull Back Low) at 16996 and this defence meant that the buyers are still in the game. The ‘K’ period then started by confirming a buying extension handle confirming that the PLR was still to the upside as the auction spiked higher into the close for the second successive day making a high of 17144 almost completing the 3 IB target for the day which was at 17153 and this once again got some profit booking coming in as the dPOC shifted higher to 17129 into the close. Spike Rules will be in play for the next open and the reference zone would be from 17090 to 17144.
Click here to view the latest profile in NF on MPLite
- The NF Open was a Open Auction (OA)
- The Day type was a Triple Distribution Trend Day – Up (TDD)
- Largest volume was traded at 17129 F
- Vwap of the session was at 17033 with volumes of 73.6 L and range of 222 points as it made a High-Low of 17144-16922
- 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 2 ATR objective of 17007 on the upside on 31/08 and even closed above it.
- 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 16991-17129-17141
Business Areas for 01st Sep:
Up
17144 – Spike High from 31st Aug
17180 – Weekly 3 IB target
17250 – 1 ATR from PDH
Down
17090 – Spike Low from 31st Aug
17033 – VWAP from 31st Aug
16996 – PBL (Pull Back Low) from 31st 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: 36513 [ 36690 / 35322 ]
In MarketProfile, balance leads to imbalance & vice versa so post yesterday’s imbalance it was time for BNF to get back to a balance after yesterday’s trending move as it opened right at the yPOC of 35496 and first formed a narrow range IB of just 276 points as it made new highs of 36632 at the open but could not sustain and probed lower where it took support in the buying singles of 35406 to 35305 while making a low of 35356. The auction remained in this narrow IB range for most part of the day and an attempt to make a RE to the upside late in the ‘H’ period was met with swift rejection from 36690 triggering a quick liquidation move as BNF even went on to make new lows for the day at 36322 confirming a FA (Failed Auction) at day’s high but once again took support above the extension handle of 36305 and gave a PBH to 36550 to close right at the dPOC leaving a Neutral Centre Day and a nice Gaussian Profile and a good chance of this balance turning to an imbalance in the next session(s).
Click here to view the latest profile in BNF on MPLite
- The BNF Open was a Open Auction (OA)
- The Day type was a Neutral Centre Day (NeuC)
- Largest volume was traded at 36514 F
- Vwap of the session was at 36505 with volumes of 40.3 L and range of 368 points as it made a High-Low of 36690-36322
- 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 36437-36514-36596
Business Areas for 01st Sep:
Up
36550 – PBH (Pull Back High) from 31st Aug
36690 – FA (Failed Auction) from 31st Aug
37033 – Weekly ATR target
Down
36355 – IBL (Initial Balance Low) from 31st 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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