Nifty Nov F: 20131 [ 20144 / 19980 ]
| Open Type |
|---|
| OAOR (Open Auction Out of Range) |
| Volumes of 13,291 contracts |
| Initial Balance |
|---|
| 68 points (20048 – 19980) |
| Volumes of 28,523 contracts |
| Day Type |
|---|
| Trend Day – 164 points |
| Volumes of 1,18,269 contracts |
NF continued previous session’s imbalance close giving a rare follow up to a Neutra Extreme (NeuX) profile as it opened with a gap up at 20000 and settled down into an OAOR forming a narrow 68 point range Initian Balance (IB) between 19980 and 20048 stalling just below the H TPO POC of 20049 from 22nd Sep 2023 and made similar highs in the C side displaying lack of demand.
The auction then made a probe into the A period singles in search of buyers and left a PBL at 20015 in the D TPO signalling return of buyers and more confirmation of the same came in form of an extension handle at 20048 in the E as it went on to make new highs of 20068 which was followed by another round of consolidation over the next 3 periods building volumes at 20066.
NF then left the second extension handle of the day at 20074 in the I period and went on to form an OTF (One Time Frame) probe higher into the close as it not only completed the 2 IB target of 20116 but made a high of 20144 stalling just below the highs of 21st Sep leaving a Trend Day Up.
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Daily Zones
- Largest volume (POC) was traded at 20066 F and VWAP of the session was at 20066
- Value zones (volume profile) are at 19986-20066-20094
- NF confirmed a FA at 19827 on 28/11 and tagged the 2 ATR objective of 20034 on 29/11
- 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 30th Nov 2023
| Up |
| 20135 – Tail from 29 Nov 20176 – 1 ATR (yPOC 20066) 20219 – Closing PBH (20 Sep) 20249 – VPOC (20 Sep) 20294 – Selling Tail (20 Sep) |
| Down |
| 20117 – Ext Handle (29 Nov) 20074 – Ext Handle (29 Nov) 20048 – Ext Handle (29 Nov) 20015 – Buying Tail (29 Nov) 19969 – Gap mid (29 Nov) |
BankNifty Nov F: 44662 [ 44721 / 44022 ]
| Open Type |
|---|
| ORR (Open Rejection Reverse) |
| Volumes of 12,127 contracts |
| Initial Balance |
|---|
| 187 points (44209 – 44022) |
| Volumes of 39,026 contracts |
| Day Type |
|---|
| Trend Day – 700 points |
| Volumes of 1,51,218 contracts |
BNF opened higher and made an initial probe lower as it took support just above the yPOC of 44019 while making a low of 44022 where it got fresh demand and confirmed a late Open Rejection Reverse (ORR) by leaving an extension handle at 44141 and making new highs of 44209 in the Initial Balance (IB).
The auction then took a pause in the C & D periods building volumes at 44160 and saw buyers defend the 44141 level indicating that the PLR (Path of Least Resistance) was to the upside and gave more proof of the same by making a huge 200 point RE (Range Extension) in the E TPO which also marked the completion of the 2 IB target of the day which was at 44397.
Another period of consolidation was seen as BNF left a PBL at 44301 in the G period which was followed by new highs of 44449 in the H as it stalled just below 16th Nov’s VPOC of 44459 and gave another small retracment down to 44367 in the K before launching into the final assault which saw it leave 2 more extension handles at 44449 & 44579 going up by another 350 points as it made new highs of 44721 into the close leaving the biggest range of the series & an elognated Trend Day Up.
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Daily Zones
- Largest volume (POC) was traded at 44160 F and VWAP of the session was at 44346
- Value zones (volume profile) are at 44136-44160-44574
- BNF confirmed a FA at 43897 on 21/11 and tagged 1 ATR objective of 43544 on 22/11. The auction closed above this FA on 28/11 hence negating this as a sell side reference
- 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 30th Nov 2023
| Up |
| 44695 – M TPO VWAP (29 Nov) 44774 – Selling Tail (18 Oct) 44869 – Weekly VPOC (12-18 Oct) 44947 – Swing High (17 Oct) 45087 – Swing High (12 Oct) |
| Down |
| 44660 – Closing singles (29 Nov) 44579 – Ext Handle (29 Nov) 44449 – Ext Handle (29 Nov) 44346 – Trend Day VWAP (29 Nov) 44209 – Ext Handle (29 Nov) |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.