Nifty Aug F: 24915 [ 24939 / 24453 ]
| Open Type |
|---|
| OTD (Open Test Drive) |
| Volumes of 37,254 contracts |
| Initial Balance |
|---|
| 184 points (24637 – 24453) |
| Volumes of 1,04,310 contracts |
| Day Type |
|---|
| Trend – 487 pts |
| Volumes of 4,09,727 contracts |
NF began the new series with a bang building on previous session’s gains by first confirming an Open Test Drive start right from the RO (Roll Over) point of 24460 and then went on to forge a massive OTF (One Time Frame) probe higher all day leaving extension handles at 24576, 24637 & 24792 as it almost tagged the 18th Jul ATH of 24950 while making a high of 24939 into the close and saw a HVN forming at 24925 whcih was matching with the ATH POC too and will be the reference in the next session to continue higher.
The important downside references would be the POC at 24859 & VWAP of 24748 as this fresh imbalance looks to continue in the month of August and could get demand coming back at these levels in case of a dip.
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Daily Zones
- Largest volume (POC) was traded at 24859 F and VWAP of the session was at 24748
- Value zones (volume profile) are at 24683-24859-24938
- HVNs are at NA** (** denotes series POC)
Weekly Zones
Monthly Zones
- The settlement day Roll Over point (Aug 2024) is 24460
- The VWAP & POC of Jul 2024 Series is 24421 & 24338 respectively
- The VWAP & POC of Jun 2024 Series is 23247 & 23535 respectively
- The VWAP & POC of May 2024 Series is 22462 & 22479 respectively
Business Areas for 29th Jul 2024
| Up |
| 24925 – HVN (26 Jul) 24988 – 1 ATR (TD VWAP 24748) 25032 – 1 ATR (Ext Handle 24792) 25099 – 1 ATR (yPOC 24859) 25150 – Weekly ATR |
| Down |
| 24910 – M TPO POC (26 Jul) 24859 – POC (26 Jul) 24792 – Ext Handle (26 Jul) 24748 – TD VWAP (26 Jul) 24696 – 26 Jul Halfback |
BankNifty Jul F: 51299 [ 51389 / 50605 ]
| Open Type |
|---|
| OAIR (Open Auction) |
| Volumes of 15,249 contracts |
| Initial Balance |
|---|
| 297 points (50902 – 50605) |
| Volumes of 32,507 contracts |
| Day Type |
|---|
| Double Distribution – 784 pts |
| Volumes of 1,35,422 contracts |
BNF made an OAIR start but remained below yPOC of 50929 and probed lower in the Initial Balance testing previous day’s C side buying tail and HVN of 50669 as it made a low of 50605 and was immediately rejected leaving another buying tail indicating buyers defending this zone.
The auction then went on to make a RE (Range Extension) to the upside in the D TPO completely negating the A period selling singles of previous profile and continued the probe higher scaling above 24th Jul’s VPOC of 51227 after leaving an extension handle at 51113 and went on to make a high of 51389 stalling just below that day’s VWAP of 51396 resulting in profit booking by the longs as POC shifted in the upper distribution to 51230 which will be the reference to hold in the coming session(s) for the upmove to continue.
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Daily Zones
- Largest volume (POC) was traded at 51230 F and VWAP of the session was at 51039
- Value zones (volume profile) are at 50883-51230-51385
- HVNs are at 52392** / 52653 / 53089 (** denotes series POC)
Weekly Zones
- Weekly Charts can be viewed here
- (18 – 24 Jul) – BNF made an attempt to get into previous week’s selling tail but could only manage to tag 52835 where it confirmed a weekly FA right around the RO point of 52830 indicating that the PLR was to the downside and went on to make a big trending move lower of 1914 points completing the 1 ATR objective of 51140 while making a low of 50921 leaving a Neutral Extreme Down weekly profile with completely overlapping Value at 51739-52273-52816 with the NeuX VWAP of 52008 being the immediate supply point along with the NeuX zone of 52282 which needs to be taken out for more upside in the coming week whereas on the downside, the weekly extension handle of 50700 (13-19 Jun) along with the June series VWAP of 50519 will be the support levels and a break of which could get in the lower VPOC tag of 50269
- (11 – 16 Jul) – BNF has formed a composite ‘p’ shape normal variation profile for the week with completely inside value at 52320-52548-52668 with the VWAP at 52420 and has a responsive selling tail at top from 52721 to 52847 which will be the zone to take out for more upside in the coming week
- (04 – 10 Jul) – BNF opened the week with new ATH of 53301 but could not sustain forming a Normal Variation profile to the downside breaking below the important support of 52793 and tested previous week’s responsive tail as it made a low of 52205 holding just above the buy side level of 52190 leaving a composite ‘b’ shape kind of a profile with mostly lower Value at 52300-52631-52777 with the VWAP at 52622
- (27 Jun -03 Jul) – BNF has formed a Neutral Centre weekly profile taking support at previous week’s VWAP of 52306 where it left a responsive buying tail and went on to make new ATH of 53249 on the last day before closing right at the POC of 53089. This week’s Value was overlapping to higher at 52630-53089-53194 with the VWAP at 52793 which will be an important support for the coming week
Monthly Zones
- The settlement day Roll Over point (July 2024) is 52830
- The VWAP & POC of Jun 2024 Series is 50519 & 49947 respectively
- The VWAP & POC of May 2024 Series is 48300 & 47726 respectively
- The VWAP & POC of Apr 2024 Series is 47971 & 47994 respectively
Business Areas for 29th Jul 2024
| Up |
| 51315 – M TPO high (26 Jul) 51435 – AVWAP (23 Jul) 51550 – PBH (24 Jul) 51661 – C TPO h/b (24 Jul) 51798 – B TPO VWAP (24 Jul) 51930 – VWAP (23 Jul) |
| Down |
| 51285 – M TPO VWAP (26 Jul) 51140 – PBL (26 Jul) 51039 – VWAP (26 Jul) 50953 – AVWAP (25 Jul) 50821 – SOC (26 Jul) 50707 – PBL (26 Jul) |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.