Nifty Jul F: 24521 [ 24593 / 24383 ]
| Open Type |
|---|
| OA (Open Auction) |
| Volumes of 28,604 contracts |
| Initial Balance |
|---|
| 93 points (24476 – 24383) |
| Volumes of 70,368 contracts |
| Day Type |
|---|
| Double Distribution – 211 pts |
| Volumes of 2,60,938 contracts |
NF moved away from the inside bar of previous session as it took support at the weekly VAH of 24385 & formed higher value in the IB (Initial Balance) getting accepted in the A period selling singles from 10th Jul and followed it up with an extension handle at 24476 in the D TPO as it went on to record new ATH of 24587 but saw profit booking coming in as it made a retracement back to 24486 in the E and formed a balance for the rest of the day.
The auction made an attempt to extend higher in the J & K TPOs but could only manage marginal new highs of 24594 & 24592 hinting at weak hands which triggered a liquidation break down to day’s VWAP of 24500 into the close leaving a Double Distribution (DD) Trend Day Up
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Daily Zones
- Largest volume (POC) was traded at 24522 F and VWAP of the session was at 24500
- Value zones (volume profile) are at 24503-24522-24593
- HVNs are at 24201 / 24350** (** denotes series POC)
Weekly Zones
- Weekly Charts can be viewed here
- (05 – 11 Jul) – NF has formed a narrow range balance & a Neutral Centre weekly profile taking support just above previous week’s prominent POC of 24201 filling up the upper half with the Value at 24256-24353-24385 while the VWAP is at 24348
- (28 Jun – 04 Jul) – NF has formed a Neutral Extreme profile to the upside leaving a FA at lows of 24082 which will be the swing reference for this series and has formed mostly higher Value at 24084-24201-24329 with this week’s VWAP at 24251 which will be the important support level going forward
Monthly Zones
- The settlement day Roll Over point (July 2024) is 24110
- The VWAP & POC of Jun 2024 Series is 23247 & 23535 respectively
- The VWAP & POC of May 2024 Series is 22462 & 22479 respectively
- The VWAP & POC of Apr 2024 Series is 22402 & 22457 respectively
Business Areas for 15th Jul 2024
| Up |
| 24522 – POC (12 Jul) 24556 – SOC (12 Jul) 24593 – ATH 24655 – 1 ATR (EH 24476) 24701 – 1 ATR (yPOC 24522) |
| Down |
| 24515 – M TPO h/b 24476 – Ext Handle (12 Jul) 24430 – SOC (12 Jul) 24389 – Buy Tail (12 Jul) 24339 – VWAP (11 Jul) |
BankNifty Jun F: 52367 [ 52847 / 52270 ]
| Open Type |
|---|
| OA (Open Auction) |
| Volumes of 20,124 contracts |
| Initial Balance |
|---|
| 319 points (52599 – 52280) |
| Volumes of 50,114 contracts |
| Day Type |
|---|
| Neutral – 577 pts |
| Volumes of 1,62,798 contracts |
BNF took support at previous session’s buying reference of 52254 while making a low of 52280 in the A period and went on to complete the 80% Rule in the 3-day composite value (05-09 July) with the help of a big RE in the D TPO where it made a high of 52847 but did not find any demand above the RO point of 52830 leaving a responsive selling tail till 52699.
The auction then coiled between the HVN of 52704 & day’s VWAP till the K TPO before breaking down and recording marginal new lows for the day at 52270 leaving a Neutral Day with overlapping Value on both sides.
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Daily Zones
- Largest volume (POC) was traded at 52396 F and VWAP of the session was at 52523
- Value zones (volume profile) are at 52284-52396-52607
- HVNs are at 52634** / 53089 (** denotes series POC)
Weekly Zones
- Weekly Charts can be viewed here
- (04 – 10 Jul) – BNF opened the week with new ATH of 53301 but could not sustain forming a Normal Variation profile to the downside breaking below the important support of 52793 and tested previous week’s responsive tail as it made a low of 52205 holding just above the buy side level of 52190 leaving a composite ‘b’ shape kind of a profile with mostly lower Value at 52300-52631-52777 with the VWAP at 52622
- (27 Jun -03 Jul) – BNF has formed a Neutral Centre weekly profile taking support at previous week’s VWAP of 52306 where it left a responsive buying tail and went on to make new ATH of 53249 on the last day before closing right at the POC of 53089. This week’s Value was overlapping to higher at 52630-53089-53194 with the VWAP at 52793 which will be an important support for the coming week
Monthly Zones
- The settlement day Roll Over point (July 2024) is 52830
- The VWAP & POC of Jun 2024 Series is 50519 & 49947 respectively
- The VWAP & POC of May 2024 Series is 48300 & 47726 respectively
- The VWAP & POC of Apr 2024 Series is 47971 & 47994 respectively
Business Areas for 15th Jul 2024
| Up |
| 52405 – L TPO VWAP (12 Jun) 52557 – HVN (12 Jul) 52704 – HVN (12 Jul) 52853 – 1 ATR (PDL 52270) 52955 – PBL (04 Jul) 53053 – 04 Jul Halfback |
| Down |
| 52364 – M TPO VWAP (12 Jul) 52254 – J TPO VWAP (11 Jul) 52075 – HVN (11 Jul) 51982 – SOC (11 Jul) 51852 – VPOC (24 Jun) 51711 – VWAP (24 Jun) |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.