NF continued the Trend Day imbalance with a lower open and a further probe down to 16918 in the IB (Initial Balance) leaving an A period selling tail from 16963 to 17039 but for the first time in 4 sessions did not extend on the downside and instead left a SOC at 17963 and made a C side extension higher to 17079 and followed it up with another RE in the D TPO to 17115 stalling just below the 2-day composite POC of 17122.
The auction then made a deep retracement over the next 3 TPOs breaking below VWAP but left an important PBL at 16975 in the G period just above the morning SOC indicating demand coming back and this led to a fresh move higher resulting in new highs of 17130 in the K period which was swiftly rejected leaving a small responsive selling tail at top triggering a probe back to VWAP leaving a well balanced profile on the daily with completely lower Value.
Click here to view the latest profile in NF on Vtrender Charts
- The NF Open was an Open Drive – Down (OD on lower volumes)
- The Day Type was a Normal Variation Day – Up (NV)
- Largest volume was traded at 17033 F
- Vwap of the session was at 17029 with volumes of 115.4 L and range of 212 points as it made a High-Low of 17130-16918
- 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 16975-17033-17087
NF (Mar) Weekly Settlement Profile (10th to 16th Mar 2023)
17047 [ 17574 / 16918 ]
The weekly settlement profile is a Neutral Extreme one to the downside after it moved away from last week’s auction with a lower open & confirmed a FA at highs of 17574 & went on to tag the weekly 1 ATR objective of 17165 and as long as closes below it on daily basis can go for the 2 ATR target of 16756 in the coming week. Value for the week was completely lower at 16927-17122-17289 and the profile also resembles a DD (Double Distribution) with a low volume zone area between the 2 HVNS of 17122 & 17448 which could get filled in case NF sustains above 17165 and manages to take out this week’s VWAP of 17220.
Click here to view this week’s settlement profile in NF on Vtrender Charts
Business Areas for 17th Mar 2023:
Up
17052 – Closing HVN (16 Mar)
17115 – Selling tail (16 Mar)
17169 – dPOC from 15 Mar
17229 – Selling Tail (15 Mar)
17265 – Selling tail (14 Mar)
17304 – Extension Handle (13 Mar)
Down
17033 – dPOC from 16 Mar
16975 – PBL from 16 Mar
16930 – Buying Tail (16 Mar)
16896 – HVN from 03 Oct 2022
16848 – 2 Weekly ATR from 17666
16820 – Monthly Range target
(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: 39396 [ 39598 / 38831 ]
BNF also opened with a probe lower not only making new lows for the series but getting into the 13th Oct’s untouched Value area tagging the HVN of 39084 and breaking below the reference of 38996 and looked set to tag the VPOC of 38792 as it made a low of 38831 in the IB after leaving an initiative selling tail 39029 to 39281.
The C side however had other plans as it completely negated the A period tail and followed up with new highs of 39478 in the D TPO where the auction stalled at previous day’s HVN of 39465 triggering a reaction down to 38952 where it left a PBL in the G before resuming the upmove as it made an OTF higher till the K period where it hit new highs for the day at 39598 stalling just below the yVWAP of 39633 marking the end of the upside leaving a responsive selling tail till 39484 & got the dPOC to shift higher to 39442 into the close leaving a balanced profile for the day with completely lower Value.
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 (NV)
- Largest volume was traded at 39442 F
- Vwap of the session was at 39212 with volumes of 63.1 L and range of 767 points as it made a High-Low of 39598-38831
- BNF confirmed a FA at 41765 on 09/03 & completed the 2 ATR objective on the downside of 40732 on 10/03.
- 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 39068-39442-39484
BNF (Mar) Weekly Settlement Profile (10th to 16th Mar 2023)
39396 [ 41050 / 38831 ]
BNF not only opened lower this weekly settlement but left an initiative selling tail from 40834 to 41050 as it dropped by a huge 2219 points to hit a low of 38831 over the 5 days with the help of couple of Trend Day Down profiles on Monday & Wednesday with the respective VWAPs of 40185 & 39633 which will be important references on the upside for the coming week. The weekly profile resembles a DD down with completely lower Value & a low volume zone between the 2 HVNs of 39620 to 40674 which could get filled up in case the auction stays above the immediate reference of 39633 on the upside with the weekly VWAP of 39839 being another important level to watch.
Click here to view this week’s settlement profile in BNF on Vtrender Charts Business Areas for 17th Mar 2023: Up 39442 – dPOC from 16 Mar 39541 – Selling tail mid 39633 – VWAP from 15 Mar 39771 – LVN from 15 Mar 39865 – PBH from 15 Mar 39995 – IB singles mid (15 Mar) Down 39366 – LVN from 16 Mar 39212 – VWAP from 16 Mar 39120 – PBL from 16 Mar 38952 – PBL (16 Mar) 38860 – Buying tail (16 Mar) 38792 – VPOC from 13 Oct
(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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