NF made an OAIR (Open Auction In Range) start near the yPOC of 17862 & made an attempt to probe higher in the A period but could only manage to hit 17878 failing to get new demand at previous highs as it formed yet another very narrow IB range of just 53 points and formed similar lows of 17825 in the B & C TPOs.
The auction then made a definite move down in the D period leaving an extension handle at 17825 testing previous day’s buying tail while making a low of 17782 in the E TPO and gave a small bounce back to 17821 in the F stalling just below the extension handle indicating that the downside was still not done.
The G period then made new lows of 17775 breaking below PDL briefly but was swiftly rejected suggesting lack of supply and this led to return of buyers who then formed an OTF (One Time Frame) move higher for the rest of the day even making new highs of 17890 into the close leaving a Neutral Extreme Day Up but also saw the dPOC shift higher to 17873 as some profit booking came in.
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 Neutral Extreme Day – Up (NV)
- Largest volume was traded at 17873 F
- Vwap of the session was at 17837 with volumes of 68.1 L and range of 114 points as it made a High-Low of 17890-17775
- NF confirmed a multi-day FA at 17653 on 11/04 & tagged the 1 ATR objective of 17828 on 12/04. The 2 ATR target comes to 18003
- NF confirmed a multi-day FA at 17715 on 12/04 & tagged the 1 ATR objective of 17872 on the same day. The 2 ATR target comes to 18029
- 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 17806-17873-17876
NF (Apr) Weekly Settlement Profile (07th to 13th Apr 2023)
17879 [ 17890 / 17653 ]
The weekly settlement profile remained in a very narrow range of just 236 points thanks to a holiday at the start and is a Neutral Extreme One to the upside with completely higher Value at 17746-17861-17876 after NF stalled just below the weekly VPOC of 17760 on Monday triggering a quick probe lower into the close where it took support at 17653 just above previous week’s HVN of 17648 leaving a Neutral Centre Day and confirmed a multiday FA there as it opened higher on Tuesday but remained in a very narrow range confriming another multiday FA at 17715 with a higher open on Wednesday where it tagged both the 1 ATR objectives of 17828 & 17872 from the 2 FAs respectively. Thursday saw some profit booking coming in by the longs as the auction moved lower in the first half of the day but failed to get fresh selling below PDL triggering a trending move higher in the second half as it went on to make new highs for the week at 17890 closing the week with a Neutral Extreme Day Up. This week’s VWAP of 17786 will be an important reference on the downside for the rest of the series along with Thursday’s VWAP of 17837 whereas on the upside, 06th Mar’s VPOC of 17927 along with the 2 ATR objective of 17972 from the weekly VPOC of 17082 would be the immediate objectives.
Click here to view this week’s settlement profile in NF on Vtrender Charts
Business Areas for 17th Apr 2023:
Up
17886 – Closing HVN (13 Apr)
17927 – VPOC from 06 Mar
17972 – Wkly 2 ATR from 17082
18003 – 2 ATR from FA (17653)
18053 – Monthly 2 IB
18075 – Weekly ATR (17653)
Down
17873 – dPOC from 13 Apr
17837 – VWAP from 13 Apr
17786 – Weekly VWAP
17754 – Prev Week IBH
17715 – Multi-day FA
17683 – VPOC from 10 Apr
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Apr F: 42189 [ 42230 / 41580 ]
BNF made an OH (Open = High) start at 41721 and dropped lower to 41580 in the opening minutes where it took support just above previous VWAP of 41573 indicating demand coming back giving a swift move higher as it not only scaled above the weekly VPOC of 41780 but made a high of 41867 in the A period stalling below the 09th Mar HVN of 41895 and saw some profit booking by the buyers.
The auction then made a slow probe lower in search for demand again getting accepted in the A period buying singles and made a low of 41635 in the E period where it found buyers coming back near the yPOC of 41644 after which it remained above PDH leaving an important PBL right there in the G TPO signalling that the PLR (Path of Least Resistance) was to the upside.
The slow pace continued this time to the upside till the I period where BNF made marginal new highs of 41875 but changed gears soon after as it left couple of extension handles at 41875 & 41933 which helped it not only tag the 6th Mar Swing High of 42000 in the K TPO but made way for a huge spike higher from 42039 to 42230 into the close as it completed the 1 ATR objective of 42211 from the weekly FA of 40866 and saw big profit booking coming in causing the dPOC to shift higher to 42194.
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 Normal Variation Day – Up (with a Spike close)
- Largest volume was traded at 42194 F
- Vwap of the session was at 41894 with volumes of 33.1 L and range of 650 points as it made a High-Low of 42230-41580
- BNF confirmed a FA at 39580 on 27/03 & completed the 2 ATR objective of 40868 on 31/03. This FA has not been tagged & is now a positional reference.
- The settlement day Roll Over point (Apr 2023) is 40290
- The VWAP & POC of Mar 2023 Series is 38910 & 39444 respectively.
- The VWAP & POC of Feb 2023 Series is 40880 & 41462 respectively.
- The VWAP & POC of Jan 2023 Series is 41965 & 42320 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 41761-42194-42229
BNF (Apr) Weekly Settlement Profile (07th to 13th Apr 2023)
42189 [ 42230 / 41580 ]
BNF opened the week with a balanced profile filling up the previous week’s Value on Monday but gave a move away starting a fresh imbalance to the upside from Tuesday onwards where it left an A period buying tail confirming a weekly FA at 40866 and went on to form a Neutral Extreme Up profile for this settlement with the profile also resemling a DD (Double Distribution) with a small responsive buying tail at lows from 40941 to 40886 and the mini DD singles from 41239 to 41290 forming mostly higher Value at 41311-42194-42229 and will have the spike zone of 42039 to 42230 as the immediate reference for the coming week.
Click here to view this week’s settlement profile in BNF on Vtrender Charts Business Areas for 17th Apr 2023: Up 42211 – 1 ATR from wFA (40866) 42320 – Jan Monthly VPOC 42462 – IB singles mid (16 Feb) 42527 – 16 Feb Swing High 42611 – 1 ATR from yPOC 42732 – LVN from 2-day comp (23-24 Jan) Down 42194 – dPOC from 13 Apr 42110 – Closing singles mid (13 Apr) 42008 – Spike Low (13 Apr) 41895 – Mid-profile tail (13 Apr) 41790 – HVN from 13 Apr 41680 – HVN from 13 Apr
(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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