Nifty Dec F: 21023 [ 21130 / 20991 ]
| Open Type |
|---|
| OA (Open Auction) |
| Volumes of 5,740 contracts |
| Initial Balance |
|---|
| 37 points (21130 – 21093) |
| Volumes of 16,374 contracts |
| Day Type |
|---|
| Trend Down – 139 points |
| Volumes of 89,183 contracts |
NF opened higher even scaling above yesterday’s FA of 21119 while recording new ATH of 21130 in the A period but failed to get fresh demand and settled down into an Open Auction forming an ultra narrow range of just 37 points in the Initial Balance as it made a low of 21093 taking support right above previous day’s Gaussian Value.
The auction then made a C side extension to the downside almost swiping through previous Value as it made a low of 21065 and made the customary retracement to day’s VWAP via a swift bounce in the D period but stalled around the dPOC of 21111 as it left a PBH at 21114 and went on to make a fresh extension lower in the H TPO where it not only completed the pending 80% Rule but completed the 2 IB target of 21056 while making a low of 21043.
NF then gave a small bouce back to21085 leaving a fresh PBH right at day’s VWAP in the J period indicating that the sellers were in control and this resulted in a big drop lower in the K & L TPOs which saw the completion of the 3 IB objective of 21019 while making new lows of 20991 before giving a small bouce back to 21033 into the close leaving a Trend Day Down with both range & value forming an outside bar.
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Daily Zones
- Largest volume (POC) was traded at 21111 F and VWAP of the session was at 21062
- Value zones (volume profile) are at 21031-21111-21121
- NF confirmed a FA at 21119 on 11/12 and the 1 ATR objective comes to 20993. This FA was re-visited on 12/12 but failed to get any demand leaving an initiative selling tail and a probe lower to 20991 completing the 1 ATR objective to the downside.
- NF confirmed a FA at 21106 on 08/12 and tagged the 1 ATR objective of 20975 on same day. This FA got revisted on 11/12 so is no longer a valid reference
- HVNs are at 20377 / 21032** (** denotes series POC)
Monthly Zones
- The settlement day Roll Over point (December 2023) is 20270
- The VWAP & POC of Nov 2023 Series is 19562 & 19806 respectively
- The VWAP & POC of Oct 2023 Series is 19468 & 19537 respectively
- The VWAP & POC of Sep 2023 Series is 19736 & 19672 respectively
Business Areas for 13th Dec 2023
| Up |
| 21027 – Closing HVN (12 Dec) 21062 – VWAP from 12 Dec 21111 – dPOC from 12 Dec 21155 – 1 ATR from 21027 21201 – 1 ATR from 21073 |
| Down |
| 21004 – Buying tail (12 Dec) 20977 – SOC from 08 Dec 20931 – LVN from 05 Dec 20896 – VPOC from 05 Dec 20845 – HVN from 05 Dec |
BankNifty Nov F: 47308 [ 47600 / 47237 ]
| Open Type |
|---|
| OAIR (Open Auction In Range) |
| Volumes of 9,588 contracts |
| Initial Balance |
|---|
| 220 points (47600 – 47380) |
| Volumes of 24,079 contracts |
| Day Type |
|---|
| Normal Variation – 362 points |
| Volumes of 1,10,926 contracts |
BNF made an OAIR start making an attempt to probe above previous Value but failed to find fresh demand as it tagged 47600 triggering the 80% Rule which it completed with the help of an extension handle at 47504 in the B period and went on to make a low of 47380 after which it continued with the habit of making a C side move dropping down to 47300 where it tested the 08th Dec buying extension handle of 47311.
The auction then made the typical probe back to VWAP post the C side leaving a nice responsive buying tail at the lows but could only manage to form similar highs at 47526 & 47523 in the D & E TPOs suggesting supply coming back at this yPOC zone after which it remained mostly in the IB range leaving couple of PBHs at 47480 & 47445 in the G & I periods confirming that the PLR remained to the downside.
The J TPO then made a move away from the IB making new lows for the day at 47270 completing the 1.5 IB objective and BNF made a mini spike lower to 47237 into the close leaving a HVN at 47295 suggesting some profit booking coming in by the sellers as it formed completely lower Value on the daily timframe.
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Daily Zones
- Largest volume (POC) was traded at 47431 F and VWAP of the session was at 47419
- Value zones (volume profile) are at 47297-47431-47467
- BNF confirmed a FA at 46961 on 08/12 and tagged the 1 ATR objective of 47437 on same day. The 2 ATR target comes to 47913
- HVNs are at 45127 / 47012** / 47147 (** denotes series POC)
Monthly Zones
- The settlement day Roll Over point (December 2023) is 44720
- The VWAP & POC of Nov 2023 Series is 43837 & 43619 respectively
- The VWAP & POC of Oct 2023 Series is 43718 & 44346 respectively
- The VWAP & POC of Sep 2023 Series is 44808 & 44438 respectively
Business Areas for 13th Dec 2023
| Up |
| 47364 – SOC from 12 Dec 47445 – PBH from 12 Dec 47548 – Selling Tail (12 Dec) 47650 – Selling tail (11 Dec) 47789 – Weekly ATR |
| Down |
| 47295 – Closing HVN (12 Dec) 47171 – NeuX VWAP (08 Dec) 47087 – POC from 08 Dec 46961 – FA from 06 Dec 46831 – SOC from 07 Dec |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.