Nifty Feb F: 22003 [ 22110 / 21901 ]
| Open Type |
|---|
| OAOR (Open Auction Out of Range) |
| Volumes of 14,906 contracts |
| Initial Balance |
|---|
| 91 points (22109 – 22019) |
| Volumes of 30,919 contracts |
| Day Type |
|---|
| Normal Variation – 209 pts |
| Volumes of 1,32,898 contracts |
NF opened higher making an attempt to move away from the developing 3-day balance it was forming but got stalled right at 02nd Feb’s SOC (Scene Of Crime) at 22107 as it made a high of 22110 and got aggressive supply coming back forcing a probe back into the composite value while making a low of 22019 in the B period taking temporary support at PDH.
The auction then made a probe higher to day’s VWAP in the C side but could only leave a PBH at 22077 confriming that the sellers were in control and they managed to make multiple REs (Range Extension) lower till the F TPO almost completing the 80% Rule in the 3-day value while hitting 21901 where it left a small responsive buying tail and saw profit booking by the shorts as the dPOC shifted lower to 21930 marking the end of the downside.
NF then made a rotation higher from the I to the K periods scaling above VWAP to leave a PBH at 22038 before contracting the range further as both the day’s POC & VWAP merged at 21998 into the close leaving a 3-1-3 profile for the day and on the higher timeframe added to the 3-day balance making it smoother with the updated Value at 21907-21996-22060 and looks good for a move away from here in the coming session(s).
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Daily Zones
- Largest volume (POC) was traded at 21998 F and VWAP of the session was at 21998
- Value zones (volume profile) are at 21948-21998-22085
- HVNs are at 21813 (** 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 08th Feb 2024
| Up |
| 22010 – M TPO h/b 22055 – C TPO POC (07 Feb) 22088 – A TPO POC (07 Feb) 22140 – SOC from 02 Feb 22189 – Selling tail (02 Feb) |
| Down |
| 21998 – POC from 07 Feb 21960 – PBL from 07 Feb 21915 – Buy tail (07 Feb) 21860 – C TPO POC (06 Feb) 21828 – A TPO POC (06 Feb) |
BankNifty Feb F: 46131 [ 46296 / 45901 ]
| Open Type |
|---|
| OAOR (Open Auction Out of Range) |
| Volumes of 24,640 contracts |
| Initial Balance |
|---|
| 217 points (46296 – 46079) |
| Volumes of 48,039 contracts |
| Day Type |
|---|
| Normal Variation – 395 points |
| Volumes of 1,80,645 contracts |
BNF also opened higher but stalled right below 05th Feb’s selling tail from 46328 as it tagged 46296 and attracted sellers to come back which they did pushing it down to 46079 in the IB (Initial Balance) forming a narrow 217 point range but left an A period singles at top indicating that the PLR (Path of Least Resistance) was to the downside.
The auction then began to coil making a rare inside bar in the C side and a double inside in D period leaving similar lows which was then taken out by a swift RE in the E TPO as it swiped through previous value making a low of 45901 narrowly missing on completing the 80% Rule to 45880 with the dPOC also shifting down to 45992 signalling profit booking by morning shorts as a small responsive buying tail was also confirmed.
BNF then made a probe higher negating the extension handle of 46074 first in the I period and then went on to scale above day’s VWAP into the closing TPOs triggering a short covering move to 46249 into the close as it left yet another 3-1-3 profile on the daily but has formed a nice Gaussian Curve over the last 3 days with the composite Value at 45908-45999-46155 and like NF looks good for a fresh imbalance to start in the coming session(s).
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Daily Zones
- Largest volume (POC) was traded at 46114 F and VWAP of the session was at 46104
- Value zones (volume profile) are at 46022-46114-46248
- HVNs are at 45998** / 46321 (** denotes series POC)
Weekly Zones
- Weekly Charts can be viewed here
- (01-07 Feb) – BNF has formed a Neutral Centre weekly profile as it first took support right at previous week’s VWAP of 45883 leaving a FA on 01st Feb and went on to make a trending move higher taking out the weekly selling tail of 19th-25th Jan profile and even tagged the prior week’s extension handle of 47115 but could only manage to tag 47145 as sellers came back strongly and went on to not only retrace the entire upmove but made new lows for the week at 45740 taking support just above previous week’s POC of 45717 and gave a bounce back to 46296 on the last day. Value for the week was mostly higher Value at 45897-46114-46410 with a prominent TPO HVN 45999 which will be the support for the coming week
- (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 08th Feb 2024
| Up |
| 46155 – 3D_VAH (05-07 Feb) 46328 – Selling tail (05 Feb) 46471 – Ext Handle (02 Feb) 46580 – K TPO POC (02 Feb) 46686 – NeuX VWAP (02 Feb) 46825 – VPOC from 02 Feb |
| Down |
| 46092 – M TPO low (07 Feb) 45944 – PBL from 07 Feb 45805 – Buying tail (06 Feb) 45717 – Weekly VPOC 45592 – 2-day VAL (29-30 Jan) 45453 – 2-day tail (29-30 Jan) |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.