Nifty Aug F: 10897 [ 10925 / 10807 ]
NF opened the week with a big gap down of 100 points plus an OH (Open=High) start at 10922 after which it gave a big drive lower to fall by another 100+ points as it negated the FA of 10886 and went on to make lows of 10818 in the IB (Initial Balance). Such a big imbalance in a short time then led to the auction making a balance for the remaining part of the day forming a nice Gaussian profile which gave another FA at lows of 10807 but at the same time was rejected above IBH also as it left a probable multi-day FA at 10925. Value for the day was completely lower so the PLR remains to the downside first for immediate targets of 10785 & 10758 if stays below 10885.
- The NF Open was an Open Drive – Down (OD)
- The day type was a Normal Day
- Largest volume was traded at 10885 F
- Vwap of the session was at 10867 with volumes of 151.3 L and range of 118 points as it made a High-Low of 10925-10807
- NF had confirmed a FA at 10886 on 02/08 and revisited the same today on ‘T+1’ day(s)
- The Trend Day POC & VWAP of 19/07 at 11478 & 11523 are now positional references on the upside.
- The higher Trend Day VWAP of 05/07 at 11965 is another important reference higher.
- The settlement day Roll Over point is 11315
- The VWAP & POC of Jul Series is 11575 & 11547 respectively.
- The VWAP & POC of Jun Series is 11833 & 11714 respectively.
- The VWAP & POC of May Series is 11613 & 11696 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 10848-10885-10902
Hypos / Estimates for the next session:
a) NF has immediate supply at 10902-910 above which it can rise to 10925-946 & 10966-984
b) Staying below 10885, the auction can test 10860-844 / 10818-815 & 10802
c) Above 10984, NF can probe higher to 11016-22 & 11043-60
d) Below 10802, auction becomes weak for 10785 / 10768-758 & 10740-734
e) If 11060 is taken out, the auction can rise to 11085 / 11104-118 & 11136-141
f) Break of 10734 can trigger a move lower to 10702 / 10689-684 & 10662
BankNifty Aug F: 27796 [ 28015 / 27510]
BNF continued the trend of giving a gap down at open which was the norm for last 4 days as it opened with a huge 500 point gap lower and stayed below the FA of 28051 leading to a drive lower as it tagged the 1 ATR move lower of 27603 from the FA in the A period itself and went on to make new lows of 27510 in the ‘B’ period giving a 800+ point fall from previous close along with a large IB range of 505 points. The auction then remained inside this range for all day leaving a Normal Day with completely lower Value. The PLR remains down till the selling tail from 27953 to 28327 remains for a test of 27500 & the 2 ATR objective of 27156 from the negated FA of 28051.
- The BNF Open was an Open Auction Out of Range plus Drive Down (OAOR + D)
- The day type was a Normal Day
- Largest volume was traded at 27800 F
- Vwap of the session was at 27733 with volumes of 43.4 L in a session which traded in a range of 505 points making a High-Low of 28015-27510
- BNF opened & stayed below the FA of 28050 and completed the 1 ATR move lower of 27603. The 2 ATR move down comes to 27156
- The Trend Day VWAP of 19/07 at 30085 is now positional supply point.
- The higher Trend Day VWAP of 18/07 & 08/07 at 30598 & 30995 remain important references going forward
- The settlement day Roll Over point is 29250
- The VWAP & POC of Jul Series is 30425 & 30586 respectively.
- The VWAP & POC of Jun Series is 30914 & 30961 respectively.
- The VWAP & POC of May Series 30211 & 28940 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 27625-27800-27855
Hypos / Estimates for the next session:
a) BNF has immediate supply in the zone 27845-875 above which it could test 27925-955 & 28015
b) Staying below 27784, the auction can test 27730 / 27675-660 & 27625-610
c) Above 28015, BNF can probe higher to 28100-105 & 28210
d) Below 27610, lower levels of 27536-525 & 27486-440 could come into play
e) Sustaining above 28210, BNF can give a fresh move up to 28268 / 28315-327 & 28375-400
f) Break of 27440 could trigger a move down 27390-350 & 27288-258
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