Nifty Jun F: 16577 [ 16692 / 16528 ]
NF opened lower but took support in previous day’s buying singles and left an initiative buying tail in the IB (Initial Balance) from 16550 to 16528 after which it got back above yesterday’s VWAP of 16610 leaving an extension handle in the C period and completed the 80% Rule in the Value Area while making a high of 16667 in the D TPO.
The auction then made a fresh RE in the F period but could only manage to tag 16676 and got rejected triggering the 80% Rule to the downside as it made a low of 16587 in the H TPO confirming a PBL there and this return of demand gave a short covering move in the I & J periods as NF not only made the third round of the 80% Rule but went on to hit 16692 repairing the poor highs it had left in the previous session.
However, the auction could not sustain above PDH & the break of day’s VWAP late in the day led to a big liquidation move in the L & M TPOs as NF fell down to 16542 testing the IB singles before closing the day at 16577 leaving a day with overlapping Value / POC & VWAP at 16575-16643-16663 and the 2-day balance can be seen here.
Click here to view the latest profile in NF on MPLite
- The NF Open was an Open Auction In Range (OAIR)
- The Day type was a Normal Variation Day – Up (NV)
- Largest volume was traded at 16647 F
- Vwap of the session was at 16610 with volumes of 118 L and range of 164 points as it made a High-Low of 16692-16528
- The settlement day Roll Over point (Jun 2022) is 16180
- The VWAP & POC of May 2022 Series is 16270 & 16340 respectively.
- The VWAP & POC of Apr 2022 Series is 17430 & 17145 respectively.
- The VWAP & POC of Mar 2022 Series is 16753 & 17255 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 16567-16647-16667
HVNs – 16070 / 16309 / 16633
(** indicates series POC)
Business Areas for 01st Jun 2022:
Up
16575 – 2-day composite VAL
16610 – 2-day composite VWAP
16663 – 2-day composite VAH
16716 – HVN from 05th May
16763 – Mid-profile singles
16838 – NeuX VWAP (05th May)
Down
16552 – HVN from 31st May
16516 – Mid-point of IB singles
16444 – Singles Mid-point
16394 – Gap Mid-point
16340 – Selling tail (27th May)
16309 – VPOC from 27th May
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Jun F: 35515 [ 35938 / 35335 ]
BNF opened with a gap down of 205 points but for the second consecutive day confirmed an OAOR start as it took support right at 27th May’s VPOC of 35640 in the A period after which it formed a very narrow IB range of just 173 points & gave a slow OTF (One Time Frame) move higher making couple of REs in the C & D TPOs as it tagged the yPOC of 35880 but stalled just below the yVWAP of 35967 leaving a small responsive selling tail indicating return of supply.
The auction then made a probe lower back to 35704 in the H period and took support at previous week’s high but could only manage to give a feeble bounce to 35896 and this weakness of the buyers made the sellers get more aggressive into the close as they left an extension handle at 35637 and fell by another 200 points to 35335 thereby completing the 1 ATR objective of 35463 from the FA of 36132 which incidentally was also the 2 IB target for the day.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was an Open Auction Out of Range (OAOR)
- The Day type was a Neutral Extreme Day – Down (NeuX)
- Largest volume was traded at 35837 F
- Vwap of the session was at 35717 with volumes of 30.7 L and range of 604 points as it made a High-Low of 35938-35335
- BNF has confirmed a FA at 36132 on 30/05 and tagged the 1 ATR objective of 35463 on 31/05. The 2 ATR target comes to 34793.
- BNF confirmed a FA at 34483 on 26/05 and tagged the 2 ATR objective of 35823 on 30/05.
- The settlement day Roll Over point (Jun 2022) is 35250
- The VWAP & POC of May 2022 Series is 34570 & 34477 respectively.
- The VWAP & POC of Apr 2022 Series is 37090 & 36386 respectively.
- The VWAP & POC of Mar 2022 Series is 34992 & 35648 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 35662-35837-35896
HVNs – 34710 / 35616 / 35854
(** indicates series POC)
Business Areas for 01st Jun 2022:
Up
35500 – Mid-profile singles (31st May)
35637 – Extension Handle (31st May)
35717 – NeuX VWAP from 31st May
35837 – dPOC from 31st May
35967 – NeuX VWAP from 30th May
36132 – FA from 30th May
36296 – PBH from 04th May
Down
35460 – Buying singles (31st May)
35335 – NeuX low (31st May)
35225 – Weekly 3 IB target
35111 – NeuX zone low (26th May)
34985 – Extension Handle (26th May)
34853 – NeuX VWAP from 26th May
34710 – HVN from 26th May
(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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