Nifty Nov F:
NF made another OAIR start as has been this week’s theme and volumes were again on the lower side which kept coming down post open. With not much conviction from both sides though sellers were showing some intent today, NF made yet another balance this time making a nice bell shape profile on daily with overlapping to higher value with a close around the dPOC so can expect a move away from here in the next session.
- The NF Open was an Open Auction in Range
- The day type was a Normal Variation Day
- Largest volume was traded at 10617 F
- Vwap of the session was at 10611 with volumes of 90.1 L in a session which traded a High-Low range of 10644-10571 for 73 points
- The vwap of 17/10 at 10612 was the resistance for NOV which was tagged today for the third time & finally closed above it.
- The vwap of 29/10 at 10175 is strong support now which was broken intraday but re-captured
- We had a FA at 10111 on 31/10 which has done its 2ATR objective & is now strong support
- The VWAP & POC of 31/10 10250 & 10248 will be important levels going forward
For the weekly and other swing levels of the Nifty go to – https://vtrender.in/monthly-and-weekly-charts-analysis(has monthly and weekly Profile charts updated to trade date 09/11)
Daily Zones:
- Value zones (volume profile) are at 10594-10617-10630
Hypos / Estimates for the next session:
a) supply seen at 10638 on Friday
b) 10520 zone today again has seen buyers previously
c)The auction is in balance currently within the zone
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BankNifty Nov F:
BNF opened in the lower distribution of the Tuesday’s DD & got rejected there leaving singles & then made value all day in the DD region which was the low volume zone of Tuesday. We made a ‘P’ profile today with a tiny spike at close indicating that BNF wants to probe higher for sellers. On daily BNF has made an inside bar with one of the lowest volumes since 15th Jan 2018 so we will need to watch which side it breaks on Monday. In Market Profile, we move away from a area / zone once it is fully auctioned & looks like BNF has been in the final stages of making a composite bell & is getting ready to give a trending move away from this balance in the coming week.
- The BNF Open was an Open Auction in Range
- The day type was a Normal Variation Day
- Largest volume was traded at 25840 F
- Vwap of the session was at 25787 with volumes of 21.6 L in a session which traded a High-Low range of 25880-25630 for 250 points
- BNF has left a FA on 6/11 at 25940 and the 1ATR down from there comes to 25491
- BNF has closed above the vwap of 17/10 which was 25500 and is now support
- We had a FA at 24625 on 31/10 which has completed 1ATR of 25102 & has stayed above the 2ATR of 25575
- another FA we had on 30/10 of 25214 is now support
- 31st October’s VWAP of 24895 & POC of 24900 will be important levels going forward
For the weekly and other swing levels of the Bank Nifty go to – https://vtrender.in/monthly-and-weekly-charts-analysis/(The BN Monthly and BN weekly F charts are posted at the same link)
Daily Zones:
- Value zones ( volume profile) are at 25737-25840-25850
Hypos / Estimates for the next session:
a) supply seen at 25900-25940 from earlier and is still persisting
b) immediate support at 25750
c)Broad 2 way balance in the multi day Time Frame
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.
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