Nifty Jul F:
NF moved away from the yPOC of 11948 to probe higher & scaled above PDH (Previous Day High) of 11976 making new highs for the week at 11984 in the IB (Initial Balance). (Click here to view the profile chart for better understanding) However, just like the previous day the auction again got stuck in a range of just 25 points for most part of the day taking support at 11960 in multiple periods and on the upside it had a failed range extension attempt in the ‘G’ & ‘H’ periods as it made marginally higher highs of 11986 & 11988 but having been unable to break into the morning singles of 11959 to 11942 there was a small inventory adjustment move as NF made yet another range extension to the upside in the ‘K’ period and continued higher in the ‘L’ period to make new highs of 11999 but was rejected swiftly as it left a small tail at the top to make a nice 3-1-3 profile (singles at both ends with a nice balance in between) for the day with a prominent POC at 11978. Value was once again higher but narrower too indicating poor trade facilitation as volumes continue to remain low.
- The NF Open was a Open Auction In Range (OAIR)
- The day type was a Normal Day (3-1-3 profile)
- Largest volume was traded at 11978 F
- Vwap of the session was at 11974 with volumes of 59.3 L and range of just 56 points as it made a High-Low of 11999-11942
- NF confirmed an FA (Failed Auction) at 11840 on 02/07 and tagged the 1 ATR move up of 11961 on 03/07. The 2 ATR move higher comes to 12082
- The settlement day Roll Over point is 11915
- The VWAP & POC of Jun Series is 11833 & 11714 respectively.
- The VWAP & POC of May Series is 11613 & 11696 respectively.
- The VWAP & POC of Apr Series is 11641 & 11592 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 11965-11978-11982
Hypos / Estimates for the next session:
a) NF needs to stay above 11978 for a move to 11990-992 & 12009-026
b) Staying below 11978, the auction can test 11959-942 & 11927-916
c) Above 12026, NF could move higher to 12045-62 & 12079-82
d) Below 11916, auction becomes weak for 11895 & 11875-864
e) If 12082 is taken out, the auction can rise to 12098-105 & 12121-133
f) Break of 11864 can trigger a move lower to 11840-833 & 11811
BankNifty Jul F:
BNF gave an Open Test Drive as it opened a bit higher & came down to test the yPOC of 31500 before probing higher repairing the poor highs of previous day as it went on to make highs of 31674 in the IB (Initial Balance). (Click here to view the profile chart for better understanding) The auction then made the dreaded ‘C’ period extension and as happens most of the times came down to break VWAP thereby negating the drive open after which it stayed in the IB range for most part of the day making a balance above the singles of 31592-31500 till the I period after which it gave a break lower into the close not only getting into the singles but almost testing the lows of the morning leaving a Normal Day with higher Value.
- The BNF Open was a Open Test Drive – Up (OTD) – which failed
- The day type was a Normal Day
- Largest volume was traded yet again at 31650 F
- Vwap of the session was at 31620 with volumes of 21.9 L in a session which traded in a range of just 190 points making a High-Low of 31690-31500
- The settlement day Roll Over point is 31400
- The VWAP & POC of Jun Series is 30914 & 30961 respectively.
- The VWAP & POC of May Series 30211 & 28940 respectively
- The VWAP & POC of Apr Series is 30037 & 29762 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 31578-31650-31680
Hypos / Estimates for the next session:
a) BNF needs to stay above 31544 for a move higher to 31580-590 & 31630-690
b) Staying below 31544, the auction can test 31500-490 & 31410
c) Above 31690, BNF can probe higher to 31740 & 31784-803
d) Below 31410, lower levels of 31360-344 & 31297-280 could come into play
e) Sustaining above 31803, BNF can give a fresh move up to 31875 / 31929-949 & 32001
f) Break of 31280 could trigger a move down 31221-158 & 31071-041
For more tradeable ideas and intraday trading strategies based on MarketProfile and the OrderFlow live charts with OrderFlow analysis Live, subscribe to the trading room. The Vtrender Trading Room hosts India’s largest MarketProfile community live every trading session from 9.15 am to 3.30 pm.
If not a Trading Room member you can get immediate access at – https://in.explara.com/e/vtrender–trading–room/checkout