NF rejected previous session’s spike close as it opened lower but remained in a very narrow range of just 29 points in the A period and began the B TPO by making new lows for the day at 17557 where it got swiftly rejected from yVAL triggering a big range expansion to the upside as it left an extension handle at 17599 and made multiple REs higher till the H TPO completing the 1.5 IB objective of 17715 to the dot.
The auction failed to find fresh demand in this initiative selling zone from 10th Mar resulting in a long liquidation drop down to 17603 in the J period as it left a small responsive tail at the top but also held the B TPO extension handle and closed right at the dPOC of 17648 leaving a Normal Variation Day up with overlapping to higher Value.
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- The NF Open was an Open Auction In Range (OAIR)
- The Day Type was a Normal Variation Day – Up (NV)
- Largest volume was traded at 17648 F
- Vwap of the session was at 17642 with volumes of 78.7 L and range of 159 points as it made a High-Low of 17715-17557
- The settlement day Roll Over point (Apr 2023) is 17230
- The VWAP & POC of Mar 2023 Series is 17200 & 17069 respectively.
- The VWAP & POC of Feb 2023 Series is 17717 & 17839 respectively.
- The VWAP & POC of Jan 2023 Series is 17923 & 18132 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 17603-17648-17683
NF (Apr) Weekly Settlement Profile (31st Mar to 06th Apr 2023)
17644 [ 17715 / 17270 ]
The weekly settlement profile which started with a Double Distribution (DD) Trend Day Up with an open above the immediate weekly VPOC of 17267 has made one DD on the higher timeframe also moving away from previous week’s Gaussian Curve with an initiative buying tail from 17326 to 17213 and has formed completely higher Value at 17272-17443-17563 with another mid-profile singles from 17530 to 17486 with a close around the upper HVN of 17648 which will be the opening reference for the coming week staying above which NF could go for the higher weekly VPOC of 17760 and the TPO HVN of 17820 from the week dated 03rd to 09th Mar.
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow ) BNF opened lower making a look down below previous Value but could only manage 40990 getting swiftly rejected reversing the probe to the upside and even left an extension handle in the B period at 41112 and made couple of REs (Range Extension) in the C & D TPOs as it made a high of 41425 tagging the Gap mid-point from 10th Mar to the dot. The auction could not extend any further triggering a retracement lower till the J period where it tested the extension handle of 41112 but left a PBL at 41106 indicating demand coming back before leaving a PBH at 41233 forming a Normal Day with mostly higher Value. For the Monthly charts & other swing levels for BankNifty & BNF click here & for the weekly charts & analysis, please click here. BNF opened with a big gap up well above the weekly VPOC of 40319 and continued to probe higher in the holiday shortened week as it made higher highs on all 4 days scaling above the higher weekly VPOC of 40938 forming a Normal Variation Weekly profile with completely higher Value at 40839-41047-41417 closing around the HVN of 41136 which will be the immediate reference for the coming week as acceptance above it will keep it on for the probe to the higher weekly VPOC of 41780. Click here to view this week’s settlement profile in BNF on Vtrender Charts
Business Areas for 10th Apr 2023:
Up
41233 – PBH from 06 Apr
41340 – PBH from 06 Apr
41425 – Gap mid-point (10 Mar)
41550 – Buying Tail (08 Mar)
41628 – weekly 3 IB
41780 – Weekly VPOC (03-09 Mar)
Down
41106 – PBL from 06 Apr
41010 – Buying Tail (06 Apr)
40937 – VPOC from 03 Apr
40815 – Closing HVN (31 Mar)
40716 – VPOC from 31 Mar
40629 – Buying Tail (31 Mar)
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow ) 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://www.explara.com/e/vtrendertradingroomlive
Click here to view this week’s settlement profile in NF on Vtrender Charts
Business Areas for 10th Apr 2023:
Up
17648 – dPOC from 06 Apr
17693 – Selling tail (06 Apr)
17760 – Weekly VPOC
17802 – Weekly 3IB
17839 – Feb POC
17872 – Selling Tail (09 Mar)
Down
17620 – LVN from 06 Apr
17580 – IB HVN (06 Apr)
17545 – PBL-2 from 05 Apr
17502 – IB singles mid
17446 – VPOC from 03 Apr
17404 – VAL from 03 Apr
BankNifty Apr F: 41169 [ 41425 / 40990 ]
HVNs – 40290 / 41047** (** indicates series POC)
BNF (Apr) Weekly Settlement Profile (31st Mar to 06th Apr 2023)
41169 [ 41425 / 40446 ]
