Nifty Jun F:
NF made an OAIR start and made an attempt to probe lower which was held at 11915 just above the HVN of 11910 indicating that demand was coming in at those levels. The auction then drove higher leaving singles from 11915 t0 11952 in the ‘A’ period to confirm the entry of an initiative player as the auction made a 60 point IB. (Click here to view the profile chart for better understanding) NF then made multiple range extensions till the ‘G’ period making a high of 12034 and tagging the 2 IB move for the day as it then consolidated building volumes at 12015 and gave a dip to 11994 in the ‘I’ period. The ‘J’ period then made a fresh breakout leaving an extension handle at 12034 to resume the OTF up making a trending move into the close as NF went on to make new all time highs of 12118 giving a Trend Day on the very first day of the new calendar month. The trend day VWAP & POC of 12015 will be the level to watch in case of a dip in the coming day(s) as NF finally seems to be moving away from the 6 day composite it was forming.
- The NF Open was a Open Auction In Range (OAIR)
- The day type was a Trend Day – Up
- Largest volume was traded at 12015 F
- Vwap of the session was at 12015 with volumes at 120 L in a session of 203 points trading in a High-Low range of 12118-11915
- The Trend Day VWAP of 12015 will be important support now
- The settlement day Roll Over point is 11980
- The VWAP & POC of May Series is 11613 & 11696 respectively.
- The VWAP & POC of Apr Series is 11641 & 11592 respectively.
- The VWAP & POC of Mar Series is 11327 & 11448 respectively.
You can check the monthly charts & other swing levels for Nifty & NF here & for the weekly charts & analysis, please click here.
Daily Zones:
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- Value zones (volume profile) are at 11916-12015-12077
Hypos / Estimates for the next session:
a) NF needs to sustain above 12115 for a move to 12133-150 & 12181-194
b) Immediate support is at 12090-85 below which the auction can test 12065 / 12047-34 & 12015
c) Above 12194, NF can probe higher to 12210-228 & 12250
d) Below 12015, NF can check lower supports of 11994-980 & 11957-949
e) If 12250 is taken out, higher levels of 12272-28 & 12302 open up
f) Break of 11949 can trigger a move lower to 11915-905 & 11880-870
BankNifty Jun F:
BNF also made an OAIR start opening around the lower HVN of 31320 and attempted a probe lower as it made a low of 31250 in the ‘A’ period where it got rejected to reverse the auction to the upside and it went on to make a high of 31465 leaving a 215 point IB as the ‘B’ period made a narrow range inside bar leaving singles at both sides of the ‘A’ period. (Click here to view the profile chart for better understanding) BNF then made a ‘C’ side extension in buying tail but was rejected as it made a low of 31318 indicating that demand was coming in at that HVN zone & this led to a OTF move to the upside over the next 3 periods as the auction made a range extension to the upside making a high of 31578 in the ‘F’ period marking the 1.5 IB completion. The auction then retraced the upmove over the next 3 periods as BNF broke below VWAP giving a pull back low at 31365 in the ‘I’ period. The ‘J’ period then made a trending move to the upside as it got above VWAP and went on to make a fresh range extension to the upside as it made a high of 31599. BNF continued this imbalance in the ‘K’ period too as it left an extension handle at 31599 and went on to make a high of 31718 completing the 2 IB move to the upside. The next 2 periods ‘L’ & ‘M’ however saw balance returning to the auction as they stayed inside the range of ‘K’ making double inside bars which saw the dPOC for the day also moving higher to 31678 which will be the level to cross & sustain in the next session for more upside. The zone of 31599 to 31718 could be termed as a spike zone & will be the immediate reference for tomorrow.
- The BNF Open was a Open Auction In Range (OAIR)
- The day type was a Normal Variation Day – Up [with a spike close]
- Largest volume was traded at 31688 F
- Vwap of the session was at 31480 with volumes at 27.3 L in a session which traded a High-Low range of 31718-31250 for a range of 469 points
- The settlement day Roll Over point is 31644
- The VWAP & POC of May Series 30211 & 28940 respectively
- The VWAP & POC of Apr Series is 30037 & 29762 respectively.
- The VWAP & POC of Mar Series is 29061 & 29778 respectively.
For the Monthly charts & other swing levels for BankNifty & BNF click here & for the weekly charts & analysis, please click here.
Daily Zones:
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- Value zones (volume profile) are at 31430-31678-31704
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Hypos / Estimates for the next session:
a) BNF needs to sustain above 31688 for a move to 31736 & 31775-792
b) Immediate support is at 31608-599 below which the auction can test 31565 & 31505-480
c) Above 31792, BNF can probe higher to 31854 & 31910
d) Below 31480, BNF can move lower to 31400-392 / 31365-344 & 31315
e) If BNF sustains above 31910, higher levels of 31955-985 & 32058-82 could open up
f) Break of 31315 could trigger a move down to 31250-225 & 31152-125
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