Nifty Apr F: 22612 [ 22669 / 22420 ]
| Open Type |
|---|
| ORR (Open Rejection Reverse) |
| Volumes of 19,860 contracts |
| Initial Balance |
|---|
| 187 points (22662 – 22475) |
| Volumes of 61,106 contracts |
| Day Type |
|---|
| Neutral Centre – 249 pts |
| Volumes of 2,18,360 contracts |
NF opened with a gap up hitting new highs for the week at 22662 but could not sustain triggering a big liquidation break as it confrimed an Open Rejection Reverse swiping through previous day’s range even making a look down below PDL with a RE (Range Extension) in the D period where it made a low of 22420 testing the initiative buying singles from 28th Mar.
The auction found demand coming back in this zone as it left a small but important responsive buying tail till 22455 and got back above day’s VWAP in the G TPO negating the ORR and went on to test the morning HVN of 22655 while making a RE attempt to the upside in the I period which was rejected leading to a Neutral Centre close and a second successive outside bar on daily both in terms of value and range leaving a 5-day composite with Value at 22515-22608-22639 with the VWAP at 22552.
NF has also formed a Neutral Centre weekly profile in a narrow range of just 249 points forming completely higher Value at 22532-22607-22636 with the VWAP at 22566 and has closed right at the prominent POC which is also the Roll Over point of this series and has a good chance of giving an imbalance in the coming week.
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Daily Zones
- Largest volume (POC) was traded at 22636 F and VWAP of the session was at 22565
- Value zones (volume profile) are at 22520-22636-22668
- HVNs are at 22553 (** denotes series POC)
Weekly Zones
- Weekly Charts can be viewed here
- (01-04Apr) – NF has formed a Neutral Centre weekly profile in a narrow range of just 249 points forming completely higher Value at 22532-22607-22636 with the VWAP at 22566 and has closed right at the prominent POC which is also the Roll Over point of this series and has a good chance of giving an imbalance in the coming week.
Monthly Zones
- The settlement day Roll Over point (April 2024) is 22607
- The VWAP & POC of Mar 2024 Series is 22168 & 22001 respectively
- The VWAP & POC of Feb 2024 Series is 21956 & 21930 respectively
- The VWAP & POC of Jan 2024 Series is 21581 & 21635 respectively
Business Areas for 05th Apr 2024
| Up |
| 22639 – 5-day VAH (28Mar-04Apr) 22680 – 2-day VPOC (11-12 Mar) 22719 – POC (07 Mar) 22756 – FA (07 Mar) 22784 – 1 ATR (yVWAP 22565) 22827 – 1 ATR (5-day POC 22608) |
| Down |
| 22608 – 5-day POC (28Mar-04Apr) 22552 – 5-day VWAP (28Mar-04Apr) 22515 – 5-day VAL (28Mar-04Apr) 22455 – Buy tail (04 Apr) 22420 – Buy Tail (5-day comp) 22394 – A TPO VWAP (28 Mar) |
BankNifty Apr F: 48199 [ 48323 / 47920 ]
| Open Type |
|---|
| OAOR (Open Auction Out of Range) |
| Volumes of 29,470 contracts |
| Initial Balance |
|---|
| 378 points (48323 – 47945) |
| Volumes of 65,888 contracts |
| Day Type |
|---|
| Normal (3-1-3) – 404 points |
| Volumes of 1,69,035 contracts |
BNF also opened higher above the weekly VPOC of 48152 and went on to scale above 12th Mar’s SOC (Scene Of Crime) of 48250 as it made a high of 48323 stalling below the higher VPOC of 48373 from 07th Mar where it witnessed profit booking by longs along with supply coming back resulting in a probe lower for the rest of the IB as it went on to make a low of 47945 taking support right at the 3-day composite VAH.
The auction made an attempt to enter the 3-day Value in the D period but could only manage to tag 47920 and was swiftly rejected and spent the rest of the day inside the IB forming a balance as it left a PBH at 48288 in the I TPO before settling down at the HVN of 48200 leaving a Normal Day and a 3-1-3 profile with completely higher Value.
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Daily Zones
- Largest volume (POC) was traded at 48128 F and VWAP of the session was at 48144
- Value zones (volume profile) are at 48070-48128-48279
- HVNs are at 47881 (** denotes series POC)
Weekly Zones
- Weekly Charts can be viewed here
- (28Mar-03Apr) – BNF has formed a composite ‘p’ shape profile for the week with completely higher Value at 47699-47881-48023 leaving a buying tail from 47405 to 47264 and closing around the ultra prominent POC of 47881 which will be the reference for the coming week and would need initiative volumes for a move away from this magnet. This week’s VWAP of 47779 will be the first zone of support whereas on the upside, 13th Mar’s FA of 48024 will need to show buy side activity for a probe towards the higher weekly VPOC of 48152 & HVN of 48368.
Monthly Zones
- The settlement day Roll Over point (April 2024) is 47190
- The VWAP & POC of Mar 2024 Series is 47051 & 47300 respectively
- The VWAP & POC of Feb 2024 Series is 46119 & 45700 respectively
- The VWAP & POC of Jan 2024 Series is 46353 & 48119 respectively
Business Areas for 05th Apr 2024
| Up |
| 48240 – M TPO VWAP (04 Apr) 48373 – VPOC (07 Mar) 48474 – HVN (07 Mar) 48624 – VPOC (06 Mar) 48727 – Weekly 2 IB 48853 – Monthly 1.5 IB |
| Down |
| 48177 – M TPO low (04 Apr) 48031 – PBL (04 Apr) 47891 – VPOC (03 Apr) 47778 – PBL (03 Apr) 47616 – Buying Tail (03 Apr) 47520 – 28 Mar Halfback |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.