Nifty Nov F:
NF opened with a small gap up but right at the lows of that trend day down of 17th Oct plus completed the 2ATR (Initial Balance) move of 10435 from the FA of 10111 & seemed to have given a ORR open when it was swiftly pushed back into previous day range & took support just above the extension handle of 10359 in IB ( but the push back up again was met with resistance at PDH & NF again turned down & this time broke the IBL & that ext handle of 10359 but was not able to tag the 1.5 IB down which was 10336 & when it got pushed back into IB it was headed for a test of day highs which it did in the ‘K’ period but not before meeting with resistance again at that 10420 level. It has made a nice bell on daily & after such a balance we can expect NF to give a move away from this balance next & the PLR is to the upside.
- The NF Open was an Open Auction
- The day type was a Neutral Day
- Largest volume was traded at 10410 F
- Vwap of the session was at 10399 with volumes of 115.1 L in a session which traded a High-Low range of 10447-10346 for 101 points
- The vwap of 17/10 at 10612 is the resistance now for NOV
- The vwap of 29/10 at 10175 is strong support now which was broken intraday but re-captured
- We had a FA at 10111 on 31/10 which has done its 2ATR objective & is now strong support
- The VWAP & POC of 31/10 10250 & 10248 will be important levels going forward
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 10380-10410-10425
Hypos / Estimates for the next session:
a) support now strong at 10262-10242
b) 10317 is the higher support on any pullback
c) supply expected at 10452 and 10472
d) 10188 remains an imp pivot
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BankNifty Nov F:
BNF opened in the spike of yesterday & after making a new high tried to go lower but was stuck in a narrow range of just 117 points for the first hour and then made a range extension higher but gave signs of exhaustion around the 1.5 IB levels as made almost identical highs in the next 2 periods with D period retracing back the entire move of C & closing well inside IB which called for a test of lows which it did almost tagging the morning lows but then stayed above that 25214 levels on 30min charts which was the signal that the PLR was still up and from there it did one time frame upside to again cross IBH & make new highs & complete the 2IB objective before showing some exhaustion again in the end. It has formed Value higher and has made a balance after yesterday’s imbalance so we can again look forward to a trending day tomorrow though the zone of 25270-25370 seems to need a bit of filling up before making the move higher.
- The BNF Open was an Open Auction
- The day type was a Normal Variation Day
- Largest volume was traded at 25370 F
- Vwap of the session was at 25305 with volumes of 39.3 L in a session which traded a High-Low range of 25450-25178 for 271 points
- The vwap of 17/10 at 25500 is the resistance now for NOV
- We had a FA at 24625 on 31/10 which has completed 1ATR of 25102 & 2ATR comes to 25575
- stayed above the FA we had on 30/10 of 25214 for most part today
- 31st October’s VWAP of 24895 & POC of 24900 will be important levels going forward
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 25252-25370-25402
Hypos / Estimates for the next session:
a) supply seen at 25530 from earlier
b) support at 25250 and 25065 lower
c) Bias stays up above 25260 roughly and is a buy on dips
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