NF made it a hat-trick of OAIR starts but remained below the yPOC of 17536 confirming that the previous day’s buyers had all booked out as it went on to negate the buying singles from 17468 to 17417 in the IB as it left a new A period selling tail from 17469 to 17518 indicating that the supply was back.
The auction then contracted till the E TPO forming inside bars on every 30 minutes before it made an attempt to get into the A period tail but could only manage to leave a PBH at 17480 triggering a fresh probe lower resulting in couple of REs in the I & J TPOs where it tagged the 28th Feb VPOC of 17406 while making a low of 17380 and saw the dPOC shift lower to 17400 leaving a Normal Variation Day Down with completely lower Value.
On the bigger timeframe, we have a nice 4-day composite forming with Value at 17407-17448-17509 and the biggest HVN for the current series developing at 17448 so it needs to be seen if we get initiative volumes in the coming session(s) for a move away from this balance. (Click here to view the Vtrender Chart of the composite)
Click here to view the latest profile in NF on Vtrender Charts
- The NF Open was an Open Auction In Range (OAIR)
- The Day Type was a Normal Variation Day – Down (‘b’ shape profile)
- Largest volume was traded at 17400 F
- Vwap of the session was at 17432 with volumes of 73 L and range of 138 points as it made a High-Low of 17518-17380
- The settlement day Roll Over point (Mar 2023) is 17635
- The VWAP & POC of Feb 2023 Series is 17717 & 17839 respectively.
- The VWAP & POC of Jan 2023 Series is 17923 & 18132 respectively.
- The VWAP & POC of Dec 2022 Series is 18337 & 18584 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 17386-17400-17451
NF (Mar) Weekly Settlement Profile (24th Feb to 02nd Mar 2023)
17623 [ 18147 / 17556 ]
NF continued the downside imbalance with an initiative selling tail from 17661 to 17700 on Friday where it formed a DD kind of a profile probing below previous week’s low as it tagged 17510 with the dPOC shifting down to 17558 which then held all week which saw a balance forming over the last 4 days leaving a composite ‘b’ shape profile for this settlement week which was a Normal Variation (Down) with completely lower Value at 17388-17448-17518 and will need fresh volumes to move away from this zone.
Click here to view this week’s settlement profile in NF on Vtrender Charts
Business Areas for 03rd Mar 2023:
Up
17400 – dPOC from 02 Mar
17448 – Weekly POC
17480 – Selling Tail (02 Mar)
17536 – VPOC from 01 Mar
17592 – VWAP from 24 Feb
17635 – Mar series RO point
Down
17388 – Weekly VAL
17349 – 28 Feb tail
17304 – HVN from 17 Oct
17260 – Monthly VPOC
17223 – Extension Handle (17 Oct)
17168 – Monthly 1.5 IB
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Mar F: 40627 [ 40970/ 40550 ]
BNF opened with a probe above PDH but could only manage to hit 40970 stalling just below the 21st Feb’s VPOC of 40975 signalling return of supply which was further confirmed as it left an A period selling tail at the yPOC of 40908 and formed a narrow range balance for the first half of the day taking support at yVWAP of 40792.
The sellers however were able to push lower late in the day as they left an extension handle at 40755 in the I period and went on to spike lower to 40550 into the close leaving a late DD (Double Distribution) type profile but saw the dPOC shift lower to 40657 indicating some profit booking.
Click here to view the latest profile in BNF on Vtrender Charts- The BNF Open was an Open Auction (OA)
- The Day Type was a late Double Distribution Trend Day – Down (DD)
- Largest volume was traded at 40657 F
- Vwap of the session was at 40757 with volumes of 31.1 L and range of 420 points as it made a High-Low of 40970-40550
- The settlement day Roll Over point (Mar 2023) is 40365
- The VWAP & POC of Feb 2023 Series is 40880 & 41462 respectively.
- The VWAP & POC of Jan 2023 Series is 41965 & 42320 respectively.
- The VWAP & POC of Dec 2022 Series is 43030 & 43128 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 40550-40657-40760
BNF (Mar) Weekly Settlement Profile (24th Feb to 02nd Mar 2023)
40627 [ 40970 / 39982 ]
BNF opened the week with an A period selling tail on Friday from 40622 to 40421 right below previous week’s VWAP of 40624 forming a ‘b’ shape profile & continued lower hitting new lows on Monday but got some initiative demand coming back seen in the buying tail from 40093 to 39982 reversing the PLR for the week to the upside as it went on to make higher highs & higher lows for the remaining 3 days filling up previous week’s low volume zone but stalled right at 21st Feb’s VPOC of 40975 giving a retracement back to 40550 into the close. This week’s profile is a Neutral Centre one with Value completely inside at 40106-40494-40680 and has 2 HVNs at 40800 & 40490 so will need a move away from either of them for a probe away from this contraction.
Click here to view this week’s settlement profile in BNF on Vtrender Charts
Business Areas for 03rd Mar 2023:
Up
to be updated…
Down
to be updated…
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
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