Nifty Feb F: 21916 [ 21951 / 21600 ]
| Open Type |
|---|
| ORR (Open Rejection Reverse) |
| Volumes of 34,081 contracts |
| Initial Balance |
|---|
| 88 points (21688 – 21600) |
| Volumes of 56,428 contracts |
| Day Type |
|---|
| Trend – 350 pts |
| Volumes of 1,85,897 contracts |
NF opened with a gap down of almost 150 points negating the buying tail of the 3-day composite as it made a probe below it hitting 21600 but could not sustain and left a small but important A period buying tail till 21617 indicating that the demand was coming back in this zone as it formed a relatively narrow IB (Initial Balance) range of 87 points. It then made a typical C side extension which gave a retracement to day’s VWAP which was defended leading to a fresh RE (Range Extension) in the D TPO where it made an attempt to get into the 3-day Value but this first attempt was rejected triggering another test of day’s VWAP in the E which was once again defended as it left a PBL at 21638.
The auction then made a re-entry into the 3-day value in G period and went on to tag the composite VWAP while making new highs of 21770 in the H which was followed by a retracement down to 21690 in the I where it left a higher PBL signalling that the PLR (Path of Least Resistance) remains to the upside and more confirmation of this came in form of an extension handle in the J TPO which led to a trending move higher in the K & L as it not only completed the 80% Rule in the 3-day value but went on to scale above 08th Feb’s Trend Day VWAP of 21897 and test the lower selling extension handle of 21950.
NF then saw some profit booking coming in causing a retracement down to 21872 holding just above the K period singles from 21867 to 21790 and gave a bounce back to 21926 into the close leaving an elongated 350 point range outside bar and a Trend Day as the probe below the 3-day balance failed to get fresh supply which was taken advantage of by the buyers but they will need to sustain above 21927 and take out the higher extension handle of 21986 to continue this imbalance in the coming session.
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Daily Zones
- Largest volume (POC) was traded at 21655 F and VWAP of the session was at 21755
- Value zones (volume profile) are at 21601-21655-21775
- HVNs are at 21813 (** denotes series POC)
Weekly Zones
- Weekly Charts can be viewed here
- (29 Jan-01 Feb) – NF opened higher this week and remained above previous week’s VWAP of 21540 throughout even making a look up above the highs of 21916 but left a daily FA at 21920 forming overlapping value on all 4 days leaving a Neutral profile and a nice Gaussian Curve with completely higher Value at 21726-21813-21869 with a very prominent POC which will act as a magnet unless we get an initiative move away from here in the coming week
- (19-25 Jan) – NF has formed a Neutral Extreme weekly profile in a relatively large range of 21916 to 21287 with mostly lower Value at 21349-21416-21583 and also represents a Double Distribution shape with the upper HVN at 21804 and a small zone of singles in the middle of the profile from 21640 to 21670 seperating the lower distribution where it has also left a small buying tail at a prior weekly VPOC of 21296 (08-14 Dec) which will be the support zone for the coming week whereas on the upside, this week’s VWAP of 21540 will need to taken out and sustained for a move towards 21804 and the mini tail from 21908
Monthly Zones
- The settlement day Roll Over point (February 2024) is 21419
- The VWAP & POC of Jan 2024 Series is 21581 & 21635 respectively
- The VWAP & POC of Dec 2023 Series is 21226 & 21377 respectively
- The VWAP & POC of Nov 2023 Series is 19562 & 19806 respectively
Business Areas for 15th Feb 2024
| Up |
| 21927 – Sell tail (14 Feb) 21986 – Ext Handle (08 Feb) 22031 – B TPO halfback 22075 – Sell Tail (08 Feb) 22110 – Swing High (08 Feb) 22140 – SOC from 02 Feb |
| Down |
| 21887 – K TPO singles (14 Feb) 21834 – K TPO halfback 21790 – Ext Handle (14 Feb) 21755 – Trend Day VWAP 21690 – PBL from 14 Feb 21655 – dPOC from 14 Feb |
BankNifty Feb F: 46090 [ 46350 / 45021 ]
| Open Type |
|---|
| OAIR (Open Auction In Range) |
| Volumes of 78,248 contracts |
| Initial Balance |
|---|
| 406 points (45426 – 45021) |
| Volumes of 92,748 contracts |
| Day Type |
|---|
| Trend – 1329 points |
| Volumes of 3,83,806 contracts |
BNF failed to make a probe below PDL inspite of the big gap down open and buyers took advantage of the same forming good short covering also & forming an elongated Trend Day Up profile of 1329 points as it not only completed the 80% Rule in the 3-day composite but went on to negate the selling extension handle of 46116 from 08th Feb to test the earlier supply zone of 46350.
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Daily Zones
- Largest volume (POC) was traded at 45715 F and VWAP of the session was at 45695
- Value zones (volume profile) are at 45037-45715-45941
- HVNs are at 45603** / 45998 / 46321 (** denotes series POC)
Weekly Zones
- Weekly Charts can be viewed here
- (01-07 Feb) – BNF has formed a Neutral Centre weekly profile as it first took support right at previous week’s VWAP of 45883 leaving a FA on 01st Feb and went on to make a trending move higher taking out the weekly selling tail of 19th-25th Jan profile and even tagged the prior week’s extension handle of 47115 but could only manage to tag 47145 as sellers came back strongly and went on to not only retrace the entire upmove but made new lows for the week at 45740 taking support just above previous week’s POC of 45717 and gave a bounce back to 46296 on the last day. Value for the week was mostly higher Value at 45897-46114-46410 with a prominent TPO HVN 45999 which will be the support for the coming week
- (29-31 Jan) – BNF took support multiple times at previous week’s VWAP of 45492 forming a Neutral Extreme weekly profile to the upside giving a move away from the prominent POC of 45717 on the last day where it went on to hit new highs of 46444 forming overlapping to higher Value at 46429-45717-45994 but this week’s NeuX VWAP of 45883 will be the important reference going forward if it has to continue higher towards the selling tail from 46720 & extension handle of 47115 in the coming week
- (19-25 Jan) – BNF has also formed a Neutral Extreme weekly profile in a range of 46892 to 44851 with completely lower Value at 44903-44997-45626 but has seen the POC shift to the lows hinting at profit booking by sellers so can give a bounce with this week’s VWAP of 45492 being an important reference for the buyers to take out in case of the upmove to continue in the new series
Monthly Zones
- The settlement day Roll Over point (February 2024) is 44999
- The VWAP & POC of Jan 2024 Series is 46353 & 48119 respectively
- The VWAP & POC of Dec 2023 Series is 47337 & 47918 respectively
- The VWAP & POC of Nov 2023 Series is 43837 & 43619 respectively
Business Areas for 15th Feb 2024
| Up |
| 46150 – HVN from 14 Feb 46299 – Sell tail (14 Feb) 46387 – Selling Tail (08 Feb) 46475 – Swing High (08 Feb) 46580 – K TPO POC (02 Feb) 46686 – NeuX VWAP (02 Feb) |
| Down |
| 46084 – M TPO VWAP 45940 – M TPO low 45801 – LVN from 14 Feb 45695 – TD VWAP (14 Feb) 45594 – PBL from 14 Feb 45450 – HVN from 14 Feb |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.