Nifty Mar F:
NF gave a freak OH tick of 11115 in the opening minute but was more of an OAIR start as it stayed around yesterday’s close & VAH. It seemed to have taken support just above the wide yPOC of 11068 as it made a low of 11072 in the ‘A’ period. The balance of previous day continued as ‘B’ made a narrow 15 point range inside bar leaving a pretty small IB (Initial Balance) if the opening tick was to be ignored. (Click here to view the profile chart for better understanding) NF then made an even smaller range of just 10 points in the ‘C’ period as it tagged PDH of 11095 and the attempt to probe higher in the ‘D’ period was rejected as NF reversed from 11097 to break below lows of ‘B’ & ‘C’ & went on to tag the IBL leaving a poor low. The next 2 periods then continued to balance in the lower part of the small profile NF was making on the day after which the ‘G’ & ‘H’ periods made a move lower to make lower lows and tagged that wide yPOC of 11068 while making a low of 11064 in the ‘H’ period and in the process repairing the poor lows. The auction did not find any new selling below the IBL inspite of multiple attempts made and was swiftly pushed back to VWAP. With this new information, the bulls made a fresh attack & the next 3 periods trended higher as NF even got above the morning freak high to make new highs of 11129 in the ‘K’ period almost matching the previous day’s range of 61 points giving an indication that the upside probe may be done. The auction gave an retracement in the last 2 periods and went on to tag VWAP and closed around it giving a Neutral Centre Day. The auction has made a balance for the last 2 days and looks ready for a imbalance move coming up on either side.
- The NF Open was a Open Auction in Range (OAIR)
- The day type was a Neutral Day (Gaussian Profile)
- Largest volume was traded at 11082 F
- Vwap of the session was at 11091 with volumes of 77 L in a session which traded a High-Low range of 11129-11064 for a range of 66 points
- NF confirmed a FA at 11033 on 06/03 and the 1 ATR move up comes to 11147.
- NF confirmed another FA at 11064 on 07/03 and the 1 ATR move up comes to 11177.
- The Trend Day VWAP & POC of 05/03 at 10946 & 10934 will be important levels for the series.
- The VWAP & POC of Feb Series is 10830 & 10856 respectively.
- The VWAP & POC of Jan Series is 10795 & 10823 respectively.
- The VWAP & POC of Dec Series is 10796 & 10741 respectively.
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 11075-11082-11104
Hypos / Estimates for the next session:
a) NF has immediate support at 11097-94 below which it can probe lower to 11079 & 11064-61
b) Sustaining above 11101 at open, the auction can move higher to 11121 & 11134-147
d) Below 11061, NF can fall to 11047-33 and 11018
d) Above 11150, the auction can move to the swing high of 11170-177 & 11190
e) Below 11018, NF can move lower to test levels of 10988-976
BankNifty Mar F:
BNF also opened with a freak open-high tick of 27740-745 but stayed around yPOC of 27670 at open and probe lower to take support at yVAL of 27634 as the auction made a low of 27626 in the ‘A’ period. As happens in an OAIR start, the ‘B’ period made an inside bar and stayed in a narrow range of 50 points. (Click here to view the profile chart for better understanding) BNF continued to balance within the IB (Initial Balance) till the ‘H’ period building volumes around yPOC of 27670 which hinted that a move away from this HVN could be coming. This move got confirmed in the ‘I’ period as BNF got above the pull back high of 27710 made in the ‘D’ period and started to move higher getting above the morning freak high of 27745. The auction continued to trend higher for the next 2 periods making a high of 27879 in the ‘K’ period. BNF then balanced in the range of ‘K’ period for the next 2 periods leaving a kind of Double Distribution Day and 2 respective HVNs at 27830 and 27683. The zone of 27745-710 separates the 2 distributions.
- The BNF Open was a Open Auction In Range (OAIR)
- The day type was a late Double Distribution Day (Up)
- Largest volume was traded at 27830 F
- Vwap of the session was at 27734 with volumes at 22.5 L in a session which traded a High-Low range of 27879-27626 for a range of 254 points
- BNF confirmed a FA at 27288 on 27/02 and tagged the 1 ATR move down at 27021.The auction got above this FA and tagged the 1 ATR move up at 27578 on 05/03. The 2 ATR move up comes to 27868 which was tagged today.
- The Trend Day VWAP of 05/03 of 27380 will be important level for the series.
- The VWAP & POC of Feb Series 27042 & 26978 respectively
- The VWAP & POC of Jan Series 27236 & 27514 respectively
- The VWAP & POC of Dec Series 26713 & 26832 respectively
For the Monthly charts & other swing levels for BankNifty & BNF click here & for the weekly charts & analysis, please click here.
Daily Zones:
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- Value zones ( volume profile) are at 27685-27830-27877
Hypos / Estimates for the next session:
a) BNF has immediate support at 27814 & if sustains below it at open can probe lower to 27745-710 and 26683-670
b) Sustaining above 27835 at open, the auction can move higher to 27880 and 27919-930
c) Below 27670, BNF gets weak for a move to 27605 and 27570
d) Above 27930, higher levels of 27975 and 28035 could be expected
e) If 27560 is broken and sustained, BNF can drop to 27486 & 27440
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