Nifty Jan F:
NF opened around the POC of 10825, stayed below the DD singles of 10850-10870 & probed lower making a low of 10791 just above the buying tail of 10780-10757 of yesterday. The auction then got above VWAP and went higher to enter the DD singles but was rejected midway after making a high of 10860 after which on the probe lower, NF took support at the yPOC & today’s morning VWAP of 10825 which meant it could move higher. After making an inside bar in ‘B’ period, NF again probed into the DD singles in the ‘C’ period but made an identical high of 10858 thus leaving poor highs which indicated buyer exhaustion & sellers capitalized on this by driving ‘C’ lower after breaking VWAP. NF then one time framed lower till the ‘G’ period where it not only broke the IBL of 10790 & negated that buying tail of 10780-10757 but also went on to make new lows of 10742. After this, NF gave that customary pull back in the ‘I’ period when it made a high of 10787 rejecting the entry into previous day’s Value which meant that trending move to the downside could resume. NF then went on to make new lows for the day breaking the weekly VAL of 10740 & completing a 2 IB range extension to the downside & making low of 10710 which ended up as poor lows with the last 3 TPOs present there indicating that the PLR is still down & any bounce to important levels needs to be shorted.
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- The NF Open was a Open Auction in Range
- The day type was a Normal Variation Day (Down)
- Largest volume was traded at 10713 F
- Vwap of the session was at 10776 with volumes of 112.1 L in a session which traded a High-Low range of 10860-10710 for a range of 150 points
- NF had left a FA at 10580 on 26/12 & completed the 2 ATR move up to 10862. This FA has not been tagged since the & is now strong support
- The VWAP & POC of Dec Series 10796 & 10741 respectively
- The VWAP & POC of Nov Series 10480 & 10580 respectively. It tagged the VWAP on 11/12 but closed above it
- The VWAP & POC of 31/10 10250 & 10248 will be important levels going forward
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 10711-10713-10791
Hypos / Estimates for the next session:
a) NF has immediate resistance at 10745
b) Above 10745, auction could tag 10765 & 10785
c) If 10710 is broken, NF can probe lower to 10685-680
d) Below 10680, NF can fall to 10635 & 10608
BankNifty Jan F:
BNF also opened around the yPOC of 27264 & probed lower but took support at yVAL of 27180 & turned up to get back above VWAP & the yPOC of 27264 to make a high of 27319 where it got stalled for a while indicating that there was no demand to try & test that pull back high of 27334. BNF got weak when it broke the VWAP in the ‘C’ period & the PLR for the day was clearly down. BNF went on to break not just the IBL & previous day low but also the FA of 27135 making a low of 27105 in the ‘G’ period before giving a pull back to 27225 & resuming the downtrend to make new lows at 27062 & closed the day just above the lows. BNF has made lower Value along with the weak close which indicates that there is more downside to come.
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- The BNF Open was a Open Auction in Range
- The day type was a Normal Variation Day (Down)
- Largest volume was traded at 27100 F
- Vwap of the session was at 27173 with volumes of 27.8 L in a session which traded a High-Low range of 27319-27062 for a range of 257 points
- The FA at 27135 was negated today & closed below it. The 1 ATR level downside comes to 26840
- BNF has closed below the Trend Day VWAP of 21/12 at 27200.
- The VWAP & POC of Dec Series 26713 & 26832 respectively
- The VWAP & POC of Nov Series 25686 & 26218 (Spot) respectively
- 31st October’s VWAP of 24895 & POC of 24900 will be important levels going forward
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 27074-27100-27198
Hypos / Estimates for the next session:
a) BNF has immediate resistance at 27150-175 above which it can tag 27225 & 27270
b) A move lower from the POC of 27100 can get the auction to probe the VPOC of 27040 & 26985
c) Support lower is at 26920 below which BNF can tag 26870 & 26760
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