Nifty Jun F:
NF opened with a gap up of 50 points and stayed above PDH (Previous Day High) in the ‘A’ period but could not extend the range to the upside as it made a relatively narrow range of 54 points in the IB (Initial Balance). (Click here to view the profile chart for better understanding) The auction then made a range extension to the downside in the ‘D’ period and continued the OTF (one time frame) probe down till the G period as it made a low of 11885 completing the 2 IB move down after which it gave a bounce to VWAP in the ‘I’ period as it left a pull back high at 11930. NF then made a fresh range extension in the ‘J’ period making new lows for the day at 11875 but did not sustain below the morning lows of 11885 as both the ‘K’ & ‘L’ period made similar lows of 11885 which indicated that the probe lower is getting exhausted and this led to a sharp bounce in the last 45 minutes as the auction got above VWAP making a high of 11947 before closing at 11934. Value for the day was overlapping to higher with the dPOC also shifting higher to 11913 which will be immediate support for the next session.
- The NF Open was a Open Auction Out of Range (OAOR)
- The day type was a Normal Variation Day (Down)
- Largest volume was traded at 11913 F
- Vwap of the session was at 11925 with volumes of 82.8 L making a range of 119 points as it made a High-Low of 11994-11875
- The Trend Day VWAP of 11953 will be important supply point from now on EOD basis.
- The Trend Day VWAP of 12015 will be important support now. This VWAP was broken today & NF closed below it so it is no longer support and will be a new supply point now
- The settlement day Roll Over point is 11980
- The VWAP & POC of May Series is 11613 & 11696 respectively.
- The VWAP & POC of Apr Series is 11641 & 11592 respectively.
- The VWAP & POC of Mar Series is 11327 & 11448 respectively.
You can check the monthly charts & other swing levels for Nifty & NF here & for the weekly charts & analysis, please click here.
Daily Zones:
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- Value zones (volume profile) are at 11886-11913-11960
Hypos / Estimates for the next session:
a) NF needs to get above 11944 for a probe higher to 11970 & 11991-994
b) Sustaining below 11930-922, the auction test levels of 11890-880 & 11860-856
c) Above 11995, NF could move higher to 12016 & 12030-53
d) Below 11855, NF can check lower supports of 11832-825 & 11800-795
e) Above 12053, the auction can probe higher to 12072-74 & 12094
f) Break of 11795 can trigger a move lower to 11770 & 11750-745
BankNifty Jun F:
BNF opened with a big gap up of 180 points and continued to probe higher as it hit 31392 in the ‘A’ period tagging the extension handle of 31378 it had left on 06/06 but once again got fresh supply coming in here as the auction broke below the opening price to make new lows in the ‘A’ period and closed around the lows as well. The ‘B’ period was in a narrow range of just 59 points but made a lower high & a lower low confirming a big selling tail from 31255 to 31392 at the top of the profile today which confirmed that there was some good initiative selling today at open. (Click here to view the profile chart for better understanding) The auction then continued to trend lower till the ‘G’ period making multiple range extensions down & tagging the 2 IB move of 31000 as it made a low of 30867 where it took support & went on to make a balance leaving a ‘b’ shaped profile for the day as it closed around the VWAP with the Value for the day completely overlapping previous Value and the composite POC at 31020 which will be the level to hold for a probe of that selling tail in the coming session.
- The BNF Open was a Open Auction Out of Range (OAOR)
- The day type was a Normal Variation Day (Down) [‘b’ profile]
- Largest volume was traded at 30950 F
- Vwap of the session was at 31052 with volumes at 28.8 L in a session which traded a High-Low range of 31392-30866 for a range of 526 points
- The Trend Day VWAP of 31237 will be important supply point from now on EOD basis.
- The settlement day Roll Over point is 31644
- The VWAP & POC of May Series 30211 & 28940 respectively
- The VWAP & POC of Apr Series is 30037 & 29762 respectively.
- The VWAP & POC of Mar Series is 29061 & 29778 respectively.
For the Monthly charts & other swing levels for BankNifty & BNF click here & for the weekly charts & analysis, please click here.
Daily Zones:
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- Value zones (volume profile) are at 30867-30950-31162
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Hypos / Estimates for the next session:
a) BNF has immediate supply at 31105 above which it can probe higher to 31160-190 & 31255-288
b) BNF has immediate support at 31020 below which it could test lower levels of 30976-952 & 30875-866
c) Above 31290, the auction can rise to 31344-395 & 31450-480
d) Below 30865, BNF can fall to 30818 & 30776-755
e) If BNF sustains above 31480, higher levels of 31536-555 & 31618-640 could open up
f) Break of 30755 could trigger a move down to 30674-643 / 30575-543 & 30510-505
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