Nifty Nov F: 19841 [ 19898 / 19801 ]
| Open Type |
|---|
| OA (Open Auction) |
| Volumes of 8,960 contracts |
| Initial Balance |
|---|
| 43 points (19844 – 19801) |
| Volumes of 18,043 contracts |
| Day Type |
|---|
| Normal Variation – 97 points |
| Volumes of 74,641 contracts |
NF not only made a higher open but went on to scale above the FA of 19813 and found some fresh demand coming in as it left an A period buying tail from 19815 to 19801 & hit new highs of 19844 in the B TPO forming a narrow 43 point range Initial Balance which was followed by a typical C side extension to 19848 giving an immediate retracement to day’s VWAP where it took support at 19825.
The auction then made subdued D & E periods coiling further within the C side range but stayed above VWAP which meant that the PLR (Path of Least Resistance) was to the upside and more confirmation of this came via an extension in the F TPO which was followed by a even bigger one in the G as it completed the 2 IB target of 19888 and went on to tag 16th Nov’s HVN of 19895 while making a high of 19898.
However, NF saw some profit booking by the buyers triggering a quick drop down to 19825 in the H period after which it remained in it’s range for the rest of the day forming a nice balance and a 3-1-3 profile with a nice balance in middle along with similar tails at both ends closing right at the dPOC of 19840.
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Daily Zones
- Largest volume (POC) was traded at 19839 F and VWAP of the session was at 19846
- Value zones (volume profile) are at 19825-19839-19859
- NF confirmed a FA at 19813 on 20/11 and the 1 ATR objective on the downside comes to 19690. This FA got negated at open on 21/11 and closed above it opening the 1 ATR upside target of 19936
- NF confirmed a FA at 19385 on 06/11 and tagged the 2 ATR objective of 19704 on 15/11
- HVNs are at 19129 / 19213 / 19486** (** denotes series POC)
Monthly Zones
- The settlement day Roll Over point (November 2023) is 18964
- The VWAP & POC of Oct 2023 Series is 19468 & 19537 respectively
- The VWAP & POC of Sep 2023 Series is 19736 & 19672 respectively
- The VWAP & POC of Aug 2023 Series is 19440 & 19424 respectively
Business Areas for 22nd Nov 2023
| Up |
| 19850 – L TPO POC (21 Nov) 19879 – Selling tail (21 Nov) 19908 – LVN from 16 Nov 19936 – 2 ATR (FA 19813) 19976 – Swing High (17 Oct) |
| Down |
| 19839 – dPOC from 21 Nov 19813 – FA from 20 Nov 19781 – Gap mid (20 Nov) 19750 – VPOC (20 Nov) 19718 – Swing Low (20 Nov) |
BankNifty Nov F: 43791 [ 43897 / 43655 ]
| Open Type |
|---|
| OAIR (Open Auction In Range) |
| Volumes of 8,274 contracts |
| Initial Balance |
|---|
| 127 points (43891 – 43763) |
| Volumes of 23,723 contracts |
| Day Type |
|---|
| Neutral Centre – 242 points |
| Volumes of 95,023 contracts |
BNF opened higher and made a look up above the 2-day composite VAH of 43881 but could not sustain and probed lower for the rest of the Initial Balance (IB) breaking below the 2-day POC of 43789 while making a low of 43763 in the B period after which it began to coil with the range contracting till the F TPO.
The auction then made an attempt to extend the IB on the upside in the G period where it made new highs of 43897 but once again did not get any demand above the 2-day Value and made an entry back into it triggering the 80% Rule which it completed with a swipe lower in the H TPO where it made a low of 43655 taking support just above the VAL of 43653 and giving an equally quick rebound to day’s VWAP leaving a PBH at 43838 in the I period.
The closing TPOs from J to M remained inside the I period range once again coiling as BNF built the highest volumes of the day at 43803 and closed around it leaving a Neutral Centre profile which looked like was filling up the 2-day balance making it a smoother Gaussian Curve so now we have the 3-day composite Value at 43686-43795-43880 and are currently right in the middle so will need some initiative volumes in the coming session(s) for a move away from here. (Click here to view the composite only on Vtrender Charts)
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Daily Zones
- Largest volume (POC) was traded at 43803 F and VWAP of the session was at 43809
- Value zones (volume profile) are at 43781-43803-43865
- BNF confirmed a FA at 43897 on 21/11 and the 1 ATR objective on the downside comes to 43544.
- HVNs are at 42928 / 43184 / 43832** (** denotes series POC)
Monthly Zones
- The settlement day Roll Over point (November 2023) is 42564
- The VWAP & POC of Oct 2023 Series is 43718 & 44346 respectively
- The VWAP & POC of Sep 2023 Series is 44808 & 44438 respectively
- The VWAP & POC of Aug 2023 Series is 44493 & 44550 respectively
Business Areas for 22nd Nov 2023
| Up |
| 43838 – PBH from 21 Nov 43920 – B TPO VWAP (17 Nov) 44010 – Selling Tail (17 Nov) 44124 – 1 ATR from yPOC (43803) 44262 – HVN from 16 Nov |
| Down |
| 43795 – 3-day POC (17-21 Nov) 43686 – 3-day VAL (17-21 Nov) 43555 – VPOC from 07 Nov 43423 – Gap mid-point (03 Nov) 43304 – VPOC from 02 Nov |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.