Nifty Aug F: 24161 [ 24390 / 24125 ]
| Open Type |
|---|
| OAIR (Open Auction) |
| Volumes of 18,952 contracts |
| Initial Balance |
|---|
| 67 points (24390 – 24322) |
| Volumes of 44,704 contracts |
| Day Type |
|---|
| Trend Down – 265 pts |
| Volumes of 2,27,964 contracts |
NF made an OAIR start forming a very narrow range of just 67 points in the Initial Balance as it remained below previous VWAP and on the downside took support above the buying singles from 24310 as it made a typical C side extension to 24312 but the bounce to VWAP did not get any fresh demand and it stalled right at the AVWAP of 24364 indicating supply coming back.
The auction then went on to make a trending move lower making multiple REs from the F to the J TPOs completing the 80% Rule in the 4-day composite (05th to 08th Aug) making a low of 24125 and saw the dPOC shift lower to 24158 into the close signalling profit booking by the sellers as it left a Trend Day Down.
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Daily Zones
- Largest volume (POC) was traded at 24158 F and VWAP of the session was at 24253
- Value zones (volume profile) are at 24135-24158-24327
- HVNs are at 24271 / 24342** / 24930 / 24996 (** denotes series POC)
Weekly Zones
- Weekly Charts can be viewed here
- (02-08 Aug) – NF opened with a gap down of 200+ points on Friday well below the POC & VWAP of previous week and left an A period selling tail and formed lower value which was followed by another big gap down of 323 points on Monday where it went on to form a Trend Day Down making a low of 29312 and remained in this range for the rest of the week leaving a FA at 24398 on Wednesday and completing the 1 ATR of 24121 on Thursday where it closed with a mini spike leaving a Double Distribution (DD) Trend Down profile for the week with completely lower Value at 24075-24271-24387 and the DD zone from 24398 to 24700 which could see filling up in the coming week if the FA of 24398 gets negated with this week’s VWAP of 24296 being an important supply point in between whereas on the downside, the HVNs of 24088 & 24063 would be the immediate support levels below which the responsive buying tails of 24012 & 23950 could come into play
- (26Jul – 01Aug) – NF has formed a composite ‘p’ shape profile on the weekly timeframe representing weak Market Structure as after starting last Friday with a big Trend Day Up of 487 points it remained in a narrow range for the rest of the days indicating poor trade facilitation at these new ATH levels. Value for the week was completely higher at 24853-24996-25042 and the auction will need to show initiative buying above 25042 in the coming week to continue higher with this week’s VWAP of 24909 being the swing reference on the downside below which it could go in for a test of the Trend Day VWAP of 24748 and the Halfback of 24696 along with extension handles of 24637 & 24576
Monthly Zones
- The settlement day Roll Over point (Aug 2024) is 24460
- The VWAP & POC of Jul 2024 Series is 24470 & 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 14th Aug 2024
| Up |
| 24168 – M TPO high (13 Aug) 24213 – J TPO EH (13 Aug) 24253 – Trend Day VWAP (13 Aug) 24291 – G TPO EH (13 Aug) 24369 – PBH (13 Aug) 24404 – 2-day VPOC (09-12 Aug) |
| Down |
| 24158 – POC (13 Aug) 24111 – Swing Low (08 Aug) 24063 – HVN (06 Aug) 24012 – Buy tail (06 Aug) 23950 – Buy tail (05 Aug) 23912 – Swing Low (05 Aug) |
BankNifty Aug F: 50052 [ 50746 / 50005 ]
| Open Type |
|---|
| OAIR (Open Auction) |
| Volumes of 14,085 contracts |
| Initial Balance |
|---|
| 218 points (50730 – 50512) |
| Volumes of 37,386 contracts |
| Day Type |
|---|
| Trend Down – 724 pts |
| Volumes of 1,79,534 contracts |
BNF also opened below previous day’s VWAP and showed 0s on the buy side at yPOC of 50730 which was clear that there was no demand coming in which was taken advantage of by the sellers who forced marginal REs in the C & D TPOs but gave a bounce back to day’s VWAP but left a PBH in the E TPO attracting fresh supply from the F period onwards.
The auction then got into the 4-day composite value (05th to 08th Aug) in the G TPO triggering the 80% Rule and completed it to the dot while making a low of 50005 into the close and with the objective being completed saw profit booking by the sellers as the dPOC shifted to 50055 into the close leaving a Trend Day Down.
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Daily Zones
- Largest volume (POC) was traded at 50055 F and VWAP of the session was at 50337
- Value zones (volume profile) are at 50007-50055-50499
- HVNs are at 50225** / 51422 (** denotes series POC)
Weekly Zones
Monthly Zones
- The settlement day Roll Over point (Aug 2024) is 51845
- The VWAP & POC of Jul 2024 Series is 52133 & 52233 respectively
- The VWAP & POC of Jun 2024 Series is 50519 & 49947 respectively
- The VWAP & POC of May 2024 Series is 48300 & 47726 respectively
Business Areas for 14th Aug 2024
| Up |
| 50088 – M TPO high 50241 – HVN (13 Aug) 50368 – 13 Aug Halfback 50480 – F TPO VWAP (13 Aug) 50590 – B TPO VWAP (13 Aug) 50730 – VPOC (12 Aug) |
| Down |
| 50011 – Buy tail (13 Aug) 49923 – VPOC (06 Aug) 49815 – Swing Low (06 Aug) 49660 – Multi-day FA (06 Jun) 49507 – Closing tail (05 Jun) 49371 – 1 ATR (yPOC 50055) |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.