Nifty Sep F: 24906 [ 25219 / 24855 ]
| Open Type |
|---|
| OD (Open Drive) |
| Volumes of 38,318 contracts |
| Initial Balance |
|---|
| 284 points (25219 – 24935) |
| Volumes of 1,50,065 contracts |
| Day Type |
|---|
| Trend – 364 pts |
| Volumes of 4,16,285 contracts |
NF continued previous day’s probe to the downside more aggressively with an Open Drive Down from just below yPOC of 25235 and went on to break below the FA of 25113 in the A period triggering a further drop to the 1 ATR target of 24940 in the B TPO where it made a low of 24935 leaving a big IB range of 284 points.
The auction then made a RE lower to 24910 in the D and saw some profit booking by the sellers triggering a bounce back to 25020 in the G where it stalled just below day’s VWAP indicating supply coming back which resulted in multiple REs from the H to the L TPOs as it tagged 21st Aug’s VPOC of 24879 and made a low of 24855 and saw another round of profit booking as the dPOC shifted lower of 24880 leading to another small bounce to 24922 into the close leaving a Trend Down Day.
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Daily Zones
- Largest volume (POC) was traded at 24880 F and VWAP of the session was at 24983
- Value zones (volume profile) are at 24868-24880-25007
- NF confirmed a FA at 25113 on 29/08 and completed the 1 ATR objective of 25286 on the same day. This FA was revisited and broken on 06/09 with initiative selling tagging the 1 ATR target of 24940 whereas the 2 ATR comes to 24767
- HVNs are at 25339** (** denotes series POC)
Weekly Zones
- Weekly Charts can be viewed here
- (30Aug-05Sep) – NF has formed a Neutral profile with completely higher Value at 25253-25338-25414 with the VWAP at 25303 as it probed higher for the first 2 sessions hitting new ATH of 25399 & 25420 respectively but failed to get fresh demand and instead got initiative sellers at 25409 who pushed the auction lower where it took support right at previous week’s POC of 25168 and gave a bounce back to 25324 which was again met with supply resulting in a close below Value
- (23-29 Aug) – NF has formed a Double Distribution (DD) profile with completely higher value at 25121-25168-25245 with the DD zone being from 25094 to 24994 and this week’s VWAP at 25186
Monthly Zones
- The settlement day Roll Over point (Sep 2024) is 25270
- The VWAP & POC of Aug 2024 Series is 24588 & 24323 respectively
- The VWAP & POC of Jul 2024 Series is 24470 & 24338 respectively
- The VWAP & POC of Jun 2024 Series is 23247 & 23535 respectively
Business Areas for 09thSep 2024
| Up |
| 24935 – SOC (06 Sep) 24983 – VWAP (06 Sep) 25020 – PBH (06 Sep) 25059 – AVWAP (05 Sep) 25101 – Ext Handle (06 Sep) 25156 – A TPO VWAP (06 Sep) |
| Down |
| 24910 – Closing HVN (06 Sep) 24880 – POC (06 Sep) 24831 – Buy Tail (21 Aug) 24782 – Weekly VWAP (16-22 Aug) 24721 – VPOC (19 Aug) 24666 – RB POC (19 Aug) |
BankNifty Sep F: 50781 [ 51613 / 50610 ]
| Open Type |
|---|
| ORR (Open Rejection Reverse) |
| Volumes of 14,460 contracts |
| Initial Balance |
|---|
| 539 points (51613 – 51074) |
| Volumes of 71,526 contracts |
| Day Type |
|---|
| Trend – 1003 pts |
| Volumes of 1,89,018 contracts |
BNF finally gave that move to imbalance with an Open Rejection Reverse start getting rejected from previous value and breaking below the FA of 51525 along with the RO point of 51415 leaving an extension handle right there indicating sellers being in complete control as they dropped it down to 51074 in the B period.
The auction then made a typical C side extension lower but the bounce could not even tag VWAP re-confirming the presence of supply resulting in a fresh trending move lower from the H TPO to the L as it went on to tag 21st Aug’s VPOC of 50986 and 16th Aug NeuX VWAP of 50741 even testing the Aug series VWAP of 50629 while making a low of 50610 and saw big profit booking coming in triggering a bounce back to 50855 into the close.
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Daily Zones
- Largest volume (POC) was traded at 51128 F and VWAP of the session was at 51114
- Value zones (volume profile) are at 50933-51128-51555
- HVNs are at 51654** (** denotes series POC)
Weekly Zones
- Weekly Charts can be viewed here
- (29Aug-04Sep) – BNF opened the week & the new series taking support just above the weekly HVN of 51295 but has formed a narrow 573 points range balance with overlapping to higher Value at 51550-51656-51721 with an attempt to probe higher on 03rd Sep being rejected as big supply came back at the tag of the weekly VPOC of 51853 so a bigger imbalance is on the cards in the coming week for a move away from this week’s prominent POC of 51656 with the daily FA at 51525 being an immediate support
- (22-28 Aug) – BNF has formed a Gaussian Curve on the weekly timeframe with completely higher value at 51402-51514-51584 with the VWAP being at 51452 and has a lower HVN at 51295
Monthly Zones
- The settlement day Roll Over point (Sep 2024) is 51415
- The VWAP & POC of Aug 2024 Series is 50629 & 50415 respectively
- The VWAP & POC of Jul 2024 Series is 52133 & 52233 respectively
- The VWAP & POC of Jun 2024 Series is 50519 & 49947 respectively
Business Areas for 09th Sep 2024
| Up |
| 50807 – M TPO VWAP (06 Sep) 50905 – Ext Handle (06 Sep) 51033 – SOC (06 Sep) 51127 – POC (06 Sep) 51257 – AVWAP (05-Sep) 51410 – Ext Handle (06 Sep) |
| Down |
| 50760 – Buy tail (06 Sep) 50629 – Aug VWAP 50528 – SOC (16 Aug) 50415 – Aug POC 50275 – VPOC (14 Aug) 50135 – Swing Low (06 Aug) |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.