NF made an OAIR (Open Auction In Range) start continuing to balance in the 3-day composite for most part of the day as it first made a C side extension higher to 17165 which got rejected triggering the 80% Rule in the composite Value of 17141 to 17050 leaving similar lows of 17053 & 17052 in the F & G periods indicating limited downside.
The auction then went on to complete the 80% Rule to the upside and went on to make multiple new REs (Range Extension) to the upside forming a Neutral Extreme Day Up and making a high of 17239 stalling just below the 23rd Mar NeuX VWAP of 17243 which will be the immediate reference on the upside as the new series begins.
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 (NeuX)
- Largest volume was traded at 17083 F
- Vwap of the session was at 17132 with volumes of 116.7 L and range of 187 points as it made a High-Low of 17239-17052
- 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 17070-17083-17162
NF (Apr) Weekly Settlement Profile (24th to 29th Mar 2023)
17213 [ 17239 / 17022 ]
The weekly settlement profile remained in a narrow 216 point range forming a nice Gaussian Curve & a Neutral Extreme Up one with overlapping to lower Value at 17063-17082-17154 and the close around the highs hinting that NF wants to move away from this balance so will need to get above the weekly VPOC of 17267 & sustain else it could continue to remain in this range with this week’s VWAP of 17121 & POC of 17082 acting as magnets.
Click here to view this week’s settlement profile in NF on Vtrender Charts
Business Areas for 31st Mar 2023:
Up
17229 – Selling tail (29 Mar)
17267 – Weekly VPOC (17-23 Mar)
17312 – HVN from 23 Mar
17350 – 4-day comp VAH (14-17 Mar)
17400 – Weekly Ext Handle
17434 – TD VWAP from 13 Mar
Down
17215 – Closing singles (29 Mar)
17180 – Ext Handle (29 Mar)
17132 – NeuX VWAP (29 Mar)
17083 – dPOC from 29 Mar
17050 – 3-day comp VAL (24-28 Mar)
17000 – HVN from 20 Mar
(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: 40221 [ 40311 / 39869 ]
BNF confirmed a move away from the 3-day balance it had formed by first opening higher & then leaving an initiative buying tail from 39952 to 39869 as it made a high of 40021 in the IB after which it went on to make a big C side extension to 40194 making new highs for the week but stalling just below 23rd Mar’s NeuX VWAP of 40203 triggering a pull back down to 39962 in the G TPO.
The A period tail being defended however meant that the buyers were still in and they managed to reverse the probe once again to the upside even making new RE’s in the J & K periods before closing in a spike higher to 40311 leaving a 3-1-3 profile for the day with completely higher value and has the weekly VPOC of 40319 & the 23rd Mar’s one at 40449 as the immediate references on the upside.
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 (3-1-3 profile)
- Largest volume was traded at 40069 F
- Vwap of the session was at 40101 with volumes of 30.5 L and range of 441 points as it made a High-Low of 40311-39869
- BNF confirmed a FA at 39580 on 27/03 & completed the 1 ATR objective of 40224 on 29/03. The 2 ATR target on the upside comes to 40868.
- 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 39992-40069-40215
BNF (Apr) Weekly Settlement Profile (24th to 29th Mar 2023)
40221 [ 40311 / 39577 ]
BNF has also formed a Neutral Extreme weekly settlement profile to the upside but like NF has formed a nice balance with a prominent POC at 39756 which was a result of the first 3 days of the week showing overlapping Value but the confirmation of a daily FA at 39580 on 27th Mar gave a move to the 1 ATR objective of 40224 on Wednesday signalling the move away from balance. Value for the week was completely inside at 39641-39756-40064 with the VWAP at 39921 which will be the important reference as the new series begins with 40319 (previous week’s VPOC), 40692 (Weekly Extension Handle) and the higher weekly VPOC of 40938 being the initial objectives on the upside.
Click here to view this week’s settlement profile in BNF on Vtrender Charts Business Areas for 31st Mar 2023: Up 40246 – Selling tail (29 Mar) 40319 – Weekly VPOC 40449 – VPOC from 23 Mar 40590 – HVN from 13 Mar 40700 – Ext Handle (13 Mar) 40868 – 2 ATR from FA (39580) Down 40212 – Closing LVN (29 Mar) 40101 – VWAP from 29 Mar 39996 – HVN from 29 Mar 39855 – 3-Day composite VAH 39756 – 3-Day composite VPOC 39580 – FA from 27 Mar
(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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