Nifty Nov F:
NF opened in the spike close of yesterday (10245-10306) & tested the extension handle of 10245 where it got buyers & from there went on to test previous day high making a new high of 10315 just as IB got done and as we had a 3IB day yesterday, the set up was ideal for a short post first hour with a stop above IBH+filter and it worked like a charm with NF trending lower with OTF down for next couple of hours breaking the morning lows & making a new low of 10230 before giving a pull back of 10280 & then resuming its OTF down once again making a new low of 10195 & closing below dVAL. The trend day POC & VWAP at 10185 & 10175 are the important supports it needs to hold to give a bounce. NF left a FA today at 10315 & 1ATR from there comes to 10153.
- The NF Open was an Open Auction In Range (in spike)
- The day type was a Neutral Day
- Largest volume was traded at 10262 F
- Vwap of the session was at 10260 with volumes of 111.5 L in a session which traded a High-Low range of 10315-10195 for 120 points
- The vwap of 17/10 at 10612 is the resistance now for NOV
- The vwap of 29/10 at 10175 is the immediate support now
- FA at 10315 today
For the weekly and other swing levels of the Nifty go to – https://vtrender.com/support-and-resistance-levels-nifty-bank-nifty-futures/(has monthly and weekly Profile charts updated to trade date 26/10)
Daily Zones:
- Value zones ( volume profile) are at 10234-10262-10292
Hypos / Estimates for the next session:
a) supply at 10262-10272
b) support is still at 10185-10175on any drop
c) the 10185- 10235 zone needs a more through 2 way auction
d) Any move which sustains above 10262 can put this up to 10366
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BankNifty Nov F:
BNF also opened in yesterday’s spike & tested the spike low plus extension handle of 24980 where it got support & reversed to the upside getting above previous day high & was expected to tag the 1ATR from the FA of 24906 which was at 25250 but the upmove got stalled at 25214 where BNF left another probable FA as it was swiftly pushed back into the IB range. It went on to confirm the FA at 25214 as it broke the IBL making a new day low of 24910 before giving a pull back as it formed a balance. It then formed a ledge at 25095 which was the level to cross for bulls & their inability to do so pushed the BNF to make new lows late in the afternoon and should have tagged the 1ATR from the new FA of 25214 which was at 24737 if not for the trend day vwap of 24780 from where it gave a bounce of 150+ points as can be expected when the trend day vwap is tagged for the first time. BNF still closed below the IBL & VAL which means bulls have a job at their hands first to push back BNF above 24960 and then above that ledge of 25095 for any upmove to resume else it looks good to tag that HVN of 24610 if 24780 does not hold tomorrow.
- The BNF Open was an Open Auction In Range (in spike)
- The day type was a Neutral Day
- Largest volume was traded at 25080 F
- Vwap of the session was at 25020 with volumes of 39.5 L in a session which traded a High-Low range of 25214-24767 for 618 points
- The vwap of 17/10 at 25500 is the resistance now for NOV
- FA at 25214 today
For the weekly and other swing levels of the Bank Nifty go to – https://vtrender.com/support-and-resistance-levels-nifty-bank-nifty-futures/(The BN Monthly and BN weekly F charts are posted at the same link)
Daily Zones:
- Value zones ( volume profile) are at 24930-25080-25152
Hypos / Estimates for the next session:
a) supply at 25060/ 080 now
b) support at 24760 still very important
c) Break of 24760 will send it down to 24600 F again
d) Above 25080 should see it run back upto 25268
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