Nifty Jan F: 21579 [ 21810 / 21562 ]
| Open Type |
|---|
| OAIR (Open Auction In Range) |
| Volumes of 9,413 contracts |
| Initial Balance |
|---|
| 110 points (21810 – 21700) |
| Volumes of 31,290 contracts |
| Day Type |
|---|
| Trend Down – 248 points |
| Volumes of 1,45,034 contracts |
NF opened in previous Value and even tagged the yPOC of 21809 but was swiftly rejected from there as it dropped by 110 points to 21700 at the start of the B period taking support right at previous profile’s responsive buying tail and gave a sharp bounce back to 21790 with the help of the dreaded C side play which as expected petered out confirimg a PBH and went on to make a fresh RE down to 21651 in the D TPO.
The auction formed an inside bar in the E before resuming the downside with new lows of 21608 in the F as it tagged the spike high from 03rd Jan and began to form a balance staying inside for the next 4 TPOs before K gave yet another decisive move away making new lows of 21586 completing the 2 IB objective of the day and followed it up with lower lows of 21567 & 21562 in the closing 2 TPOs of L & M.
NF has formed an elongated Trend Down profile on the daily but saw the dPOC shifting down to 21572 into the close which will be the opening reference for the next session for the imbalance to continue towards the 26th Dec singles from 21550 below which with the LVN of 21501 from 22nd Dec along with that day’s FA of 21440 could come into play whereas on the upside, today’s VWAP of 21670 would be the swing reference going forward.
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Daily Zones
- Largest volume (POC) was traded at 21572 F and VWAP of the session was at 21670
- Value zones (volume profile) are at 21566-21572-21705
- HVNs are at 21748** / 21890 (** denotes series POC)
Weekly Zones
- (29 Dec-04 Jan) – NF has formed a Neutral Centre weekly profile as it made a look up above previous highs but got rejected after making new ATH of 22025 and went on to make a low of 21579 taking support right above last week’s lower TPO HVN of 21570 filling up the low volumes zones and forming mostly overlapping Value at 21640-21748-21875 with a point to note that the sellers who had come in forming a base at 21890 had mostly booked profits at lower levels where it saw some short covering and fresh demand coming back.
Monthly Zones
- The settlement day Roll Over point (January 2024) is 21930
- The VWAP & POC of Dec 2023 Series is 21226 & 21377 respectively
- The VWAP & POC of Nov 2023 Series is 19562 & 19806 respectively
- The VWAP & POC of Oct 2023 Series is 19468 & 19537 respectively
Business Areas for 09th Jan 2024
| Up |
| 21587 – M TPO high (08 Jan) 21618 – LVN from 08 Jan 21670 – Trend Day VWAP (08 Jan) 21729 – SOC from 08 Jan 21771 – A TPO VWAP (08 Jan) |
| Down |
| 21579 – Closing LVN (08 Jan) 21550 – Buying Tail (26 Dec) 21501 – LVN from 22 Dec 21440 – FA from 22 Dec 21384 – VWAP from 21 Dec |
BankNifty Jan F: 47621 [ 48363 / 47567 ]
| Open Type |
|---|
| OAIR (Open Auction In Range) |
| Volumes of 8,723 contracts |
| Initial Balance |
|---|
| 233 points (48363 – 48130) |
| Volumes of 26,813 contracts |
| Day Type |
|---|
| Trend Down – 796 points |
| Volumes of 1,92,242 contracts |
BNF opened with a freak tick at 48490 but there was no volumes seen in OrderFlow above 47363 in the A period as it failed to sustain above the 2-day POC of 47353 leaving a zone of singles and went on to probe below the Value while making a low of 48130 in the B TPO after which it made a typical C side extension to 48103 triggering a move above day’s VWAP as it tagged 47320 stalling right below yVWAP indicating presence of aggressive sellers who managed to make a fresh RE lower to 48028 in the D.
The auction then remained below the IBL level of 48130 even making new lows of 47939 in the F period as it tagged the 03rd Jan’s VPOC of 47964 and got into balance mode for the next 4 TPOs which remained inside the range of F but left an important PBH at 48076 in the J TPO displaying change of polarity at previous session’s buying tail and saw a fresh selling extension handle being confirmed at 47939 as the important K period began which went on to drop further by a huge 337 points and the imbalance continued into the close leaving a Trend Day Down.
BNF made a low of 47567 testing the important B TPO VWAP of 47575 from 21st Dec and expectedly saw some profit booking by the shorts as it formed a HVN at 47627 which will be the opening reference for the next session staying below which it could go on to test 21st Dec’s initiative buying tail from 47425 to 47303 whereas on the upside, the K period singles zone from 47733 to 47939 will be the important supply zone with day’s VWAP also overlapping with the latter.
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Daily Zones
- Largest volume (POC) was traded at 47998 F and VWAP of the session was at 47937
- Value zones (volume profile) are at 47921-47998-48489
- HVNs are at 47956 / 48005** / 48555 (** denotes series POC)
Weekly Zones
- (29 Dec-03 Jan) – BNF has formed a Neutral Extreme which also reresents a Double Distribution Trend Down profile which got stalled right below previous week’s POC of 48879 on the upside and went on to fill the low volume zone till 48446 and made an initiative move with a small selling tail from 48346 to 48256 as it went on to make poor lows at 47763 forming a lower balance with the POC also shifting down to 47956. Value for the week was at 47765-47956-48542 with the important DD VWAP being at 48278 which will be the swing reference for the coming settlement.
Monthly Zones
- The settlement day Roll Over point (January 2024) is 48900
- The VWAP & POC of Dec 2023 Series is 47337 & 47918 respectively
- The VWAP & POC of Nov 2023 Series is 43837 & 43619 respectively
- The VWAP & POC of Oct 2023 Series is 43718 & 44346 respectively
Business Areas for 09th Jan 2024
| Up |
| 47627 – Closing HVN (08 Jan) 47765 – Weekly VAL 47937 – Trend Day VWAP (08 Jan) 48076 – PBH from 08 Jan 48170 – IB HVN (08 Jan) |
| Down |
| 47586 – Closing tail (08 Jan) 47425 – Buying Tail (21 Dec) 47337 – Dec Series VWAP 47238 – FA from 08 Dec 47085 – C TPO POC (07 Dec) |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.