Here are the profile charts of the FEB series with emphasis on the last 5 sessions
First the chart of BNF which shows the short covering on the 18th of the Month clearly and the anomaly repair done on the 20th.
Following that we had a drive from 10460 again.
So we know that 10420- 10460 will hold as strong support in this week till expiry.
Now on the higher side there is a little bit of a tail at 10644, suggesting sellers again getting active at those prices higher.
The Profile graph seems to suggest a 10640- 10420 range to play in the next three days with a mild bullish bias.
The trading startegy would be to buy all dips till 10420 holds ( 10420 as final sl) and exit closer to 10620/ 10640 untill the closing hours of Wed.
The Profile chart of the Nifty is the same as that of the BNF
We again see short covering on the 18th, a touch of the anomaly on the 20th and a drive again on the 21st.
So from the chart 6102- 6120 appears as a strong support and more likelihood of an expiry above that number.
On the higher side we are not witnessing evidence of a continuation above 6170 yet.
If the Profile manages to close above 6170 today then we can look at a run to 6236 in the next 2 sessions.
Again a Buy on dip till 6102/ 6120 holds.
Here is the vwap chart of the BNF for this series
10752 is the UPPER 3 SD band and the max displacement for this series on current volumes.
The 10390 VAH of the chart suggests that sellers are out of it for now and we should close above this number .
6222 is the upper objective in NF and represents the max displacement of price at current volumes
We are auctioning near VAH of 6145 and only a close above 6170 can take us higher as I suggested previously.
6075 is the series vwap and dpoc and looks to expire well above it.
I will update if any changes happen between now and close