Nifty Jan F: 21945 [ 21995 / 21731 ]
| Open Type |
|---|
| OA (Open Auction) |
| Volumes of 15,815 contracts |
| Initial Balance |
|---|
| 129 points (21860 – 21731) |
| Volumes of 42,842 contracts |
| Day Type |
|---|
| Trend – 264 points |
| Volumes of 1,50,912 contracts |
NF made a gap up open well above yVWAP of 21699 and not only negated the selling tail from previous session but went on to leave a fresh buying extension handle at 21788 along with an A period buying tail from 21775 to 21733 as it went on to make a high of 21860 at the close of the Initial Balance (IB) and followed it up with couple of REs (Range Extension) in the C & D TPOs tagging the weekly HVN of 21890 while making a high of 21897 which also marked the entry into the 3-day composite of 28th Dec to 01st Jan.
The auction took a small pause to catch its breath after the quick 220 point upmove from previous close staying in a narrow range till the G period leaving a PBL at 21852 in the F after which it resumed the probe higher with a fresh RE in the H TPO which was followed by a bigger one in the I where it tagged the 3-day composite VPOC of 21931 while making a high of 21957.
NF made one final RE in the K period completing the 2 IB target of 21990 as it made a high of 21995 stalling just below the BRN (Big Round Number) of 22000 and saw some good profit booking coming in which triggered a retracement down to 21904 in the L where it confirmed a closing PBL (Pull Back Low) before getting back to 21976 into the close leaving a Trend Day Up with a close around the HVN of 21947 which will be the opening reference for the next session with today’s VWAP of 21882 now being the swing support for the upside to continue.
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Daily Zones
- Largest volume (POC) was traded at 21872 F and VWAP of the session was at 21882
- Value zones (volume profile) are at 21835-21872-21967
- HVNs are at 21754** / 21890 (** denotes series POC)
Weekly Zones
- (05-11 Jan) – NF has formed a Normal Variation profile to the downside which made a look down below previous lows but left an initaitive buying tail on the daily timeframe from 21528 to 21501 forming a nice balance over the 5 days with Value being completely inside at 21635-21703-21797 and this week’s VWAP also around the middle at 21690 where it closed and will need initiative volumes at one end in the coming week for a fresh imbalance to begin
- (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 15th Jan 2024
| Up |
| 21956 – M TPO VWAP (12 Jan) 22004 – Selling tail (01 Jan) 22058 – 1 ATR (yPOC 21872) 22091 – 1 ATR from 21899 22150 – Weekly 1 ATR (21703) |
| Down |
| 21928 – M TPO low (12 Jan) 21882 – Trend Day VWAP (12 Jan) 21839 – Mid-profile singles (12 Jan) 21788 – Ext Handle (12 Jan) 21734 – Selling tail (11 Jan) |
BankNifty Jan F: 47840 [ 48047 / 47568 ]
| Open Type |
|---|
| OAIR (Open Auction In Range) |
| Volumes of 9,957 contracts |
| Initial Balance |
|---|
| 232 points (47800 – 47568) |
| Volumes of 35,260 contracts |
| Day Type |
|---|
| Normal Variation – 478 points |
| Volumes of 1,34,253 contracts |
BNF opened higher and even made a look up above the 2-day VAH of 47685 while tagging 47709 but got rejected back dropping lower to test the 2-day POC of 47591 while making a low of 47568 which was right at the first downside business area given for the day which was held triggering a big move higher starting with an extension handle at 47709 in the B TPO as it went on to climb into the selling singles from 47740 to 47822 from previous session.
The auction then made couple of REs (Range Extension) in the C & D periods tagging the higher business area of 47915 while hitting 47945 and made a retracement back to day’s VWAP where it left a PBL (Pull Back Low) at 47774 in the F TPO indicating that the upside probe is still not over and it went on to make couple of fresh REs in the I & K periods tagging 09th Jan’s VPOC of 48017 & also completing the 2 IB target of 48031 while making a high of 48047.
BNF however could not clear this previous supply zone and left a small responsive tail at the top triggering a quick liquidation drop in the L TPO even breaking below day’s VWAP for the first time since B period as it made a low of 47741 diaplying change of polarity at earlier supply point before closing around day’s VWAP of 47832 leaving a ‘p’ shape profile for the day with completely higher Value.
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Daily Zones
- Largest volume (POC) was traded at 47886 F and VWAP of the session was at 47832
- Value zones (volume profile) are at 47741-47886-47954
- HVNs are at 47956** / 48007 / 48555 (** denotes series POC)
Weekly Zones
- (04-10 Jan) – BNF has once again formed a Neutral Extreme Down weekly profile which first filled up the low volume zone of previous week and then went on repair the poor lows with a sharp move lower testing the swing lows of 47303 (21-28 Dec) while tagging 47201 before giving a bounce back to 47666 into the close. Value for the week was completely overlapping at 47670-48076-48601 with the main supply reference being at the NeuX VWAP of 47970
- (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 15th Jan 2024
| Up |
| 47886 – dPOC from 12 Jan 48024 – Selling tail (12 Jan) 48117 – Selling tail (09 Jan) 48195 – IB HVN (08 Jan) 48295 – C TPO POC (08 Jan) |
| Down |
| 47832 – VWAP from 12 Jan 47709 – Ext Handle (12 Jan) 47598 – Buying Tail (12 Jan) 47435 – 2-day VAL (10-11 Jan) 47321 – Buying Tail (10 Jan) |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.