Nifty Apr F:
NF made an OAIR start and made an attempt to move away from the prominent POC of 11640 but got stalled around 11675 as it made similar highs in both ‘A’ & ‘B’ period indicating exhaustion. (Click here to view the profile chart for better understanding) The auction then probed lower over the next 3 periods as it made a range extension lower in the ‘E’ period to tag the 1.5 move down of 11629 as it made a low of 11626. NF then made a similar low in the ‘F’ period which was also an inside bar which signalled that the down move could be getting weaker. The auction then started a trending move higher from the ‘G’ period onwards as it scaled above VWAP and went on to make a range extension to the upside in the ‘I’ period confiming a Neutral Day. NF continued to probe higher completing the 2 IB range extension in the ‘J’ period & made new highs of 11727 in the ‘K’ period just falling short of the 3 IB target as the auction saw some profit booking and closed off the highs but still much above the IBH & VWAP. Value for the day was overlapping to higher indicating that NF is still not ready to move away from the composite it is making since the start of this series & the composite Value Area is now at 11649-11721-11748 and is currently between the 2 HVNs of 11655 & 11721
- The NF Open was a Open Auction In Range(OAIR)
- The day type was a Neutral Extreme Day (Up)
- Largest volume was traded at 11660 F
- Vwap of the session was at 11671 with volumes of 71.6 L in a session which traded a High-Low range of 11727-11626 for a range of 101 points
- NF confirmed a FA at 11834 on 03/04 and tagged the 2 ATR move down of 11620 on 11/04. This FA has not yet been tagged and is strong resistance
- NF had confirmed a FA at 11432 on 26/03 and tagged the 2 ATR move of 11632 on 27/03. This FA has not been tagged & is now strong support.
- The settlement day Roll Over point is 11673
- The VWAP & POC of Mar Series is 11327 & 11448 respectively.
- The VWAP & POC of Feb Series is 10830 & 10856 respectively.
- The VWAP & POC of Jan Series is 10795 & 10823 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 11629-11660-11699
Hypos / Estimates for the next session:
a) NF needs to get above 11716-725 for a move to 11750 & 11780-785
b) NF needs to hold the 11695-680 zone else could fall to 11655-645 & 11630
c) Above 11785, the auction can probe higher to 11806-811 & 11828-834
d) Below 11630, NF could tag lower levels of 11601 and 11585-570
e) If 11835 is taken out, the auction can rise to 11858-865 and 11880
f) Break of 11570 could lead to a move down to 11552 & 11535
BankNifty Apr F:
BNF also made an Open Auction start but stayed below the previous day’s Value as it made a high of 29978 at open indicating that the PLR for the day would be down as it went on to break previous day’s low & tag the 1 ATR move of 29911 from the FA of 30335 and make a low of 29834 in the IB (Initial Balance). (Click here to view the profile chart for better understanding) The auction attempted to probe higher in the ‘D’ period after making an inside bar in the ‘C’ but got rejected at 29937 after which it made a new day low of 29815 but could not extend the IB by much which meant that there were no sellers here or that responsive buyers were coming in. BNF then probed higher for the next 5 periods making a brief move above IBH in the ‘I’ period as it tagged 30009 but was swiftly rejected back in the IB with such good momentum that it not only broke below VWAP but also went on to make a new range extension for the day as it made a low of 29792. The auction made a lower low of 29772 in the ‘J’ period but the range started to contract & the failure of BNF to even tag the 1.5 IB extension of 29762 meant that the down move was getting exhausted. BNF then probed higher for the last 3 periods as it got back above VWAP but remained below the IBH to close around the prominent POC of 29932 giving a Neutral Centre Profile which is also a nice Bell Curve.
- The BNF Open was a Open Auction In Range(OAIR)
- The day type was a Neutral Day
- Largest volume was traded at 29940 F
- Vwap of the session was at 29968 with volumes of 21.4 L in a session which traded a High-Low range of 30150-29833 for a relatively narrow range of 316 points
- BNF confirmed a FA at 29833 today. The 1 ATR move up comes to 30247
- BNF confirmed a FA at 30335 on 10/04 and tagged the 1 ATR move down of 29911 on 11/04. The 2 ATR move down comes to 29487
- The settlement day Roll Over point is 30500
- The VWAP & POC of Mar Series is 29061 & 29778 respectively.
- The VWAP & POC of Feb Series 27042 & 26978 respectively
- The VWAP & POC of Jan Series 27236 & 27514 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 29845-29940-30058
Hypos / Estimates for the next session:
a) BNF needs to sustain above 30056-75 at open for a move to 30145-168 & 30235-260
b) Staying below 30050, the auction can test 30005 & 29940-920
c) Above 30260, BNF can probe higher to 30335-345 and 30395
d) Below 29920, BNF gets weak and could tag 29840-833 and 29780
e) If 30395 is taken out, the auction can rise to 30434 & 30485-516
f) Break of 29780 could bring lower levels of 29732-711 & 29667
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