Nifty Feb F: 18062 [ 18150 / 18047 ]
NF continued previous day’s imbalance close with a higher open and a probe to 18150 in the A period but settled down into an OAOR (Open Auction Out of range) forming an inside bar in the B with similar highs indicating exhaustion to the upside which was further confirmed by a PBH at 18143 in the D TPO.
The auction then continued to make a slow probe lower for the rest of the day forming a nice balance and even made a mini spike down from 18071 to 18047 holding just above the yPOC of 18045 leaving a Normal Day with completely higher Value.
Click here to view the latest profile in NF on MPLite
- The NF Open was an Open Auction Out of Range (OAOR)
- The Day Type was a Normal Day (Gaussian Curve)
- Largest volume was traded at 18117 F
- Vwap of the session was at 18103 with volumes of 61.2 L and range of 102 points as it made a High-Low of 18150-18047
- The settlement day Roll Over point (Feb 2023) is 17985
- The VWAP & POC of Jan 2023 Series is 17923 & 18132 respectively.
- The VWAP & POC of Dec 2022 Series is 18337 & 18584 respectively.
- The VWAP & POC of Nov 2022 Series is 18295 & 18335 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 18075-18117-18136
HVNs – 17676 / 17796** / 17880 / 18240
(** indicates series POC)
NF Weekly Settlement Profile (10th to 16th Feb 2023)
18062 [ 18150 / 17745 ]
- Friday – NF started the week filling up the zone between previous week’s DD (Double Distribution) HVNs of 17802 & 17905 forming an Inside Bar & a Normal Day with a close right at the prominent dPOC of 17874 with the profile looking like a puzzle piece perfectly fitting converting the DD to a Bell Curve
- Monday – The auction then made a Drive Down open from 17874 leaving an A period selling tail from 17900 to 17845 in the IB (Initial Balance) where it made a look down below the weekly VAL of 17779 while making a low of 17756 after which it made couple of attempts to make a RE down but could only manage marginal new lows of 17745 indicating sellers getting into a hole as the day ended as a ‘b’ shape profile with a close at the prominent dPOC of 17801
- Tuesday – saw a open above 17801 trapping the late sellers of previous day which was taken advantage by the buyers triggering a Double Distribution Trend Day Up resulting in new highs for the week at 17969 as NF closed above previous week’s VAH of 17923 signalling that the PLR (Path of Least Resistance) had changed to the upside with a close yet again at the prominent dPOC of 17942
- Wednesday – started with a test of previous day’s DD extension handle of 17878 as it filled up the DD zone in the A period and gave an initiative move to the upside in the B leaving an extension handle at 17917 after which it formed a balance for most part of the day once again building volumes at 17940 before giving the second initiative move on the upside from the K period into the close leaving a spike from 18000 to 18049 with the dPOC shifting to 18045 at the end
- Thursday – NF continued the imbalance with a higher open and a probe to the old weekly NeuX VWAP of 18125 as it made a high of 18150 in the A period but could not extend any further showing lack of demand and this led to a slow probe lower for the rest of the day which remained in a very narrow 102 points range closing the week just the way it started which is with a Normal Day & a nice Gaussian Curve but with completely higher Value
The weekly profile is a Neutral Extreme one to the upside with completely overlapping Value at 17769-17865-17949 with the NeuX zone being from 17983 to 18150 which could see filling up in the coming week unless initiative buying volumes are seen above 18125 and this week’s VWAP of 17922 will be the positional reference going forward.
Click here to view this week’s daily profiles in NF on MPLite
Business Areas for 17th Feb 2023:
Up
18075 – VAL from 16 Feb
18103 – VWAP from 16 Feb
18136 – VAH from 16 Feb
18169 – IB Singles Mid (25 Jan)
18204 – 5-day composite VPOC
18259 – 5-day composite VAH
Down
18045 – VPOC from 15 Feb
18000 – Spike Low (15 Feb)
17957 – VWAP from 15 Feb
17917 – Extension Handle (15 Feb)
17860 – HVN from 14 Feb
17801 – VPOC from 13 Feb
(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )
BankNifty Feb F: 41735 [ 42036/ 41665 ]
BNF also opened with a gap up of 186 points and went on to tag the LVN of 42030 from the Budget Day profile (01 Feb) as it made a high of 42036 in the first half of the A period but could not get into the Weekly selling tail from 42080 and settled down into an OAOR as the B TPO remained inside the narrow range of 164 points leaving singles at both sides of A.
The auction then made a typical C side extension lower to 41850 where it got swiftly rejected from just above the Spike high of previous session triggering a bounce back above VWAP in the D period where it could only manage to leave a PBH at 41961 after which it made a slow probe lower for the rest of the day completing the 2 IB target of 41709 while making a low of 41665 into the close stalling just above the yVWAP of 41659 leaving a 3-1-3 profile with completely higher Value.
Click here to view the latest profile in BNF on MPLite
- The BNF Open was an Open Auction Out of Range (OAOR)
- The Day Type was a Normal Variation Day – Down (3-1-3 profile)
- Largest volume was traded at 41946 F
- Vwap of the session was at 41868 with volumes of 31.6 L and range of 372 points as it made a High-Low of 42036-41665
- The settlement day Roll Over point (Feb 2023) is 41864
- The VWAP & POC of Jan 2023 Series is 41965 & 42320 respectively.
- The VWAP & POC of Dec 2022 Series is 43030 & 43128 respectively.
- The VWAP & POC of Nov 2022 Series is 42150 & 42959 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 41804-41946-42009
HVNs – 40600 / 40726 / 41482 / 41650** / 42115
(** indicates series POC)
BNF (Feb) Weekly Settlement Profile (10th to 16th Feb 2023)
41735 [ 42036 / 41230 ]
- Friday – BNF opened the week with a gap down of 200 points but made an OL (Open=Low) start at 41510 just above previous week’s POC of 41504 and formed a very narrow 229 point range Normal Day and an inside bar closing at the prominent dPOC of 41653
- Monday – made an initiative move away from previous profile with an A period selling tail from 41569 to 41733 as it completed the 80% Rule in the weekly Value with the help of an extension handle at 41510 in the B TPO where it made a low of 41309 but settled down into a balance for the rest of the day leaving a ‘b’ shape profile hinting that the sellers were not able to finish the job they started as it made a failed attempt to make a RE lower in the G period where it made new lows for the week at 41230 but left a small responsive buying tail and closed near the prominent dPOC of 41382
- Tuesday – The auction started the day with a balance in previous Value for the first half after which it made an initiative move to the upside from the H period onwards and left an extension handle at 41549 to form a Double Distribution Trend Day Up hitting new highs for the week at 41788 but saw the dPOC shift higher to 41679 displaying profit booking
- Wednesday – saw filling up of the DD zone for most part of the day as it formed a nice Gaussian Curve with a prominent POC at 41625 before giving a late move to the upside and a mini-spike from 41768 to 41850
- Thursday – The imbalance continued with a higher open & a probe to 42036 in the A period but BNF stalled just below the weekly selling tail from 42080 triggering a OTF (One Time Frame) probe lower for most part of the day as it not only closed the gap but went on to enter the spike zone & make a low of 41665 leaving a 3-1-3 profile for the day with completely higher Value
The weekly profile is a Neutral one with completely overlapping Value at 41392-41644-41788 and the attempt it made to move away from the balance failed on both sides indicating that both the buyers & the sellers were evenly matched and one of them will need to give way for the imbalance to begin on the higher timeframe.
Click here to view this week’s daily profiles in BNF on MPLite
Business Areas for 17th Feb 2023:
Up
41785 – HVN from 16 Feb
41868 – VWAP (16 Feb)
41961 – PBH from 16 Feb
42080 – Weekly Selling Tail
42255 – Extension Handle (25 Jan)
42390 – B TPO LVN (25 Jan)
42475 – Weekly NeuX VWAP (20-25 Jan)
Down
41712 – Buying tail (16 Feb)
41625 – VPOC from 15 Feb
41530 – Buying Tail (15 Feb)
41421 – SOC (14 Feb)
41311 – Buying Tail (14 Feb)
41148 – HVN from 03 Feb
41022 – SOC from 03 Feb
(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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