Nifty Jun F:
Yet again, there was no follow up to a Neutral Extreme profile as for the second consecutive day, NF moved away from the previous day’s HVN at open leaving a second VPOC at 11922 in 2 days after the earlier one of 11979 it left on Wednesday. The auction left singles in the ‘A’ period from 11928 to 11900 to start making a lower balance & a probable ‘b’ shape profile as it stayed inside the previous day’s range making a low of 11847 in the ‘F’ period and rotating around VWAP till the K period. (Click here to view the profile chart for better understanding) The ‘L’ period then attempted a probe higher as it made a high of 11894 but was swiftly rejected and this triggered a late spike to the downside as NF left an extension handle at 11847 making a low of 11811 in the M period as it attracted big volume at 11830 around which it closed. Spike Rules will be in play on Monday and this spike will have more importance as it has come on a Friday which means it is also a spike on the weekly time frame so can expect this imbalance to continue at the start of the next week.
- The NF Open was a Open Test Drive (OTD) – Down (on low volumes)
- The day type was a Normal Variation Day – Down (‘b’ shape profile with a spike)
- Largest volume was traded at 11830 F
- Vwap of the session was at 11870 with volumes of 81.1 L making a range of 105 points as it made a High-Low of 11916-11811
- 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 11821-11830-11878
Hypos / Estimates for the next session:
a) NF needs to get above 11850 for a probe to 11871-876 & 11895
b) Immediate support is at 11830-825 below which the auction could test 11800-795 & 11770
c) Above 11895, NF could probe higher to 11910-922 & 11937-948
d) Below 11770, lower levels of 11750-745 & 11722-710 could be tagged
e) Above 11948, the auction can rise to 11965-979 & 11998-12005
f) Break of 11710 can trigger a move lower to 11680 & 11648-640
BankNifty Jun F:
BNF rejected the previous day’s spike close as it gave a open test drive lower leaving a selling tail from 30863 to 31042 in the IB (Initial Balance). (Click here to view the profile chart for better understanding) The auction then consolidated in the lower part of the IB as multiple attempts to get in the selling tail was met with swift rejection indicating that the initiative supply of open was still active but at the same time BNF was getting some demand also in the 30730-700 zone as it was unable to tag even the 1.5 IB move down in spite of staying below the IBL and was forming a ‘b’ shape profile for the day building volumes at 30830 before the auction moved away from this HVN in the last 45 minutes giving a spike lower from 30700 to 30503 completing the 2 IB move down in a flash. Spike Rules will be in play at open for the next session.
- The BNF Open Open was a Open Test Drive (OTD) – Down (on low volumes)
- The day type was a Normal Variation Day – Down (‘b’ profile with a spike)
- Largest volume was traded at 30830 F
- Vwap of the session was at 30785 with volumes at 29.5 L in a session which traded a High-Low range of 31042-30503 for a range of 539 points
- 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 30682-30830-30892
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Hypos / Estimates for the next session:
a) BNF needs to get above 30665 for a probe higher to 30710-735 & 30800
b) Staying below 30665, the auction can test support of 30600-590 / 30510-505 & 30400
c) Above 30800, the auction can rise to 30865-885 & 30920
d) Below 30400, BNF can probe lower to 30350 & 30285-250
e) Sustaining above 30920, BNF can give a fresh leg up to 30990-31010 & 31060-90
f) Break of 30250 could trigger a move down to 30200 & 30120
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