Nifty Feb F: 21951 [ 22198 / 21877 ]
| Open Type |
|---|
| OD (Open Drive) |
| Volumes of 38,708 contracts |
| Initial Balance |
|---|
| 185 points (22065 – 21877) |
| Volumes of 68,512 contracts |
| Day Type |
|---|
| Normal Variation – 322 points |
| Volumes of 2,36,827 contracts |
NF moved away from the 4-day balance with a gap up plus an Open Drive even negating the FA (Failed Auction) of 21920 as it went on to trend higher for the first half of the day completing the 1 ATR objective of 22186 from the FA while making a high of 22198 in the E period.
The auction then saw profit booking coming in in the F TPO but gave confirmation of supply coming back as it broke the VWAP of a drive open in the G period triggering a big liquidation break down to 21921 as it took support right above the negated FA which was showing change of polarity.
NF then remained in arelatively narrow range forming a balance below day’s VWAP & POC of 22027 & 22020 respectively even leaving a PBH (Pull Back High) in the K period indicating that the sellers were in control as it gave a retracement down to 21928 in the L and saw the POC shift lower to 21945 where it eventually closed.
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Daily Zones
- Largest volume (POC) was traded at 21945 F and VWAP of the session was at 22027
- Value zones (volume profile) are at 21941-21945-22059
- NF confirmed a FA at 21920 on 01/02. This FA was taken out at open on 02/02 and the auction went on to tag the 1 ATR target of 22186 to the upside
- HVNs are at NA (** denotes series POC)
Weekly Zones
- Weekly Charts can be viewed here
- (29 Jan-01 Feb) – NF opened higher this week and remained above previous week’s VWAP of 21540 throughout even making a look up above the highs of 21916 but left a daily FA at 21920 forming overlapping value on all 4 days leaving a Neutral profile and a nice Gaussian Curve with completely higher Value at 21726-21813-21869 with a very prominent POC which will act as a magnet unless we get an initiative move away from here in the coming week
- (19-25 Jan) – NF has formed a Neutral Extreme weekly profile in a relatively large range of 21916 to 21287 with mostly lower Value at 21349-21416-21583 and also represents a Double Distribution shape with the upper HVN at 21804 and a small zone of singles in the middle of the profile from 21640 to 21670 seperating the lower distribution where it has also left a small buying tail at a prior weekly VPOC of 21296 (08-14 Dec) which will be the support zone for the coming week whereas on the upside, this week’s VWAP of 21540 will need to taken out and sustained for a move towards 21804 and the mini tail from 21908
Monthly Zones
- The settlement day Roll Over point (February 2024) is 21419
- The VWAP & POC of Jan 2024 Series is 21581 & 21635 respectively
- The VWAP & POC of Dec 2023 Series is 21226 & 21377 respectively
- The VWAP & POC of Nov 2023 Series is 19562 & 19806 respectively
Business Areas for 05th Feb 2024
| Up |
| NA |
| Down |
| NA |
BankNifty Feb F: 46236 [ 47145 / 46160 ]
| Open Type |
|---|
| OD (Open Drive) |
| Volumes of 35,068 contracts |
| Initial Balance |
|---|
| 233 points (46929 – 46696) |
| Volumes of 61,237 contracts |
| Day Type |
|---|
| Neutral Extreme – 986 points |
| Volumes of 2,93,481 contracts |
BNF gave a rare follow up to a NeuX (Neutral Extreme) profile as it not only opened higher by 288 points but continued to drive higher hitting 46929 in the A period but settled down into an OAOR forming a narrow 233 point range IB (Initial Balance) and made a typical C side extension to 46688 which got swiftly rejected triggering a fresh move higher and a RE (Range Extension) in the E TPO confirming a FA at lows and making a high of 47145 as it tagged the 17th Jan’s Trend Day VWAP of 47124.
The auction however could not sustain in this prior supply zone leaving an important responsive selling tail till 47088 as the G TPO not only got back into the IB but went on to break below day’s VWAP negating the drive open as well as the FA at 46688 leaving an extension handle right there as it first made a low of 46471 in the I period which was followed by a bounce back to 46671 in the K where it stalled right below the C side lows.
BNF then went on to complete back to back Neutral Extreme Days but this time in the opposite direction as it left a fresh extension handle at 46471 in the L TPO and went on to enter the 2-day balance (31st Jan to 01st Feb) almost completing the 80% Rule in that value as it made a low of 46160.
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Daily Zones
- Largest volume (POC) was traded at 46825 F and VWAP of the session was at 46688
- Value zones (volume profile) are at 46504-46825-47026
- BNF confirmed a FA at 45882 on 01/02 and completed the 1 ATR target of 46639 on the 02/02. The 2 ATR objective comes to 47396
- HVNs are at NA (** denotes series POC)
Weekly Zones
- Weekly Charts can be viewed here
- (29-31 Jan) – BNF took support multiple times at previous week’s VWAP of 45492 forming a Neutral Extreme weekly profile to the upside giving a move away from the prominent POC of 45717 on the last day where it went on to hit new highs of 46444 forming overlapping to higher Value at 46429-45717-45994 but this week’s NeuX VWAP of 45883 will be the important reference going forward if it has to continue higher towards the selling tail from 46720 & extension handle of 47115 in the coming week
- (19-25 Jan) – BNF has also formed a Neutral Extreme weekly profile in a range of 46892 to 44851 with completely lower Value at 44903-44997-45626 but has seen the POC shift to the lows hinting at profit booking by sellers so can give a bounce with this week’s VWAP of 45492 being an important reference for the buyers to take out in case of the upmove to continue in the new series
Monthly Zones
- The settlement day Roll Over point (February 2024) is 44999
- The VWAP & POC of Jan 2024 Series is 46353 & 48119 respectively
- The VWAP & POC of Dec 2023 Series is 47337 & 47918 respectively
- The VWAP & POC of Nov 2023 Series is 43837 & 43619 respectively
Business Areas for 05th Feb 2024
| Up |
| NA |
| Down |
| NA |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.