Nifty Mar F: 22264 [ 22329 / 22034 ]
| Open Type |
|---|
| OAIR (Open Auction In Range) |
| Volumes of 18,266 contracts |
| Initial Balance |
|---|
| 136 points (22170 – 22034) |
| Volumes of 46,427 contracts |
| Day Type |
|---|
| Normal Variation – 295 pts |
| Volumes of 1,78,685 contracts |
NF made an OAIR start and took support in previous session’s K period tail indicating that demand was coming back as it made an OTF (One Time Frame) probe higher till the G TPO while negating the extension handles of 22155 & Trend Day VWAP of 22226 and went on to test yesterday’s E singles from 22260 to 22333 while making a high of 22329.
The inability of the auction to take out 22333 meant that the supply was coming back in this zone which could be seen in the responsive tail at top triggering a retracement back to day’s VWAP as it left a PBL at 22209 in the J period before settling down to close right at the POC of 22266 leaving an inside day with mostly overlapping value.
NF has done a fill up job in the low volume zone of prior session with the bigger trend still being to the downside and this mini balance can lead to another imbalance in the coming session as it moves towards completing the lower objectives of the weekly VPOC (09-15 Feb) of 21900 along with the daily (14 Feb) one at 21799.
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Daily Zones
- Largest volume (POC) was traded at 22266 F and VWAP of the session was at 22213
- Value zones (volume profile) are at 22181-22266-22326
- NF confirmed a FA at 22022 on 29/02 and completed the 2 ATR objective of 22456
- HVNs are at 22393 / 22443** / 22497 / 22596 (** denotes series POC)
Weekly Zones
- Weekly Charts can be viewed here
- (08-14 Mar) – NF has formed a Double Distribution Trend Down profile on the weekly as it left an initiative selling tail at previous week’s VAH and went on to probe lower swiping through the Value Areas of last couple of weeks tagging the 23-29 Feb’s VPOC of 22113 and made a low of 22025 taking support just above the daily FA of 22022 from 29th Feb. Value for the week was overlapping on both sides at 22286-22442-22593 with the VWAP at 22316 which will be the immediate supply point for the new week
- (01-07 Mar) – NF opened the week with an initiative probe to the upside right from the Mar RO point of 22188 as it left a buying tail from 22259 to 22180 and went on to record similar highs of 22547 & 22545 triggering a round of profit booking as it made a retracement down to 22322 taking support just above previous week’s VAH of 22293 and saw demand coming back resulting in a fresh imbalance and new ATH of 22620 but lack of fresh buying led to another round of profit booking as the auction came down to 22526 before closing the week at 22552 leaving a Normal Variation profile with completely higher Value at 22335-22443-22551 with the VWAP at 22452.
Monthly Zones
- The settlement day Roll Over point (March 2024) is 22188
- The VWAP & POC of Feb 2024 Series is 21956 & 21930 respectively
- The VWAP & POC of Jan 2024 Series is 21581 & 21635 respectively
- The VWAP & POC of Dec 2023 Series is 21226 & 21377 respectively
Business Areas for 15th Mar 2024
| Up |
| 22280 – PBH (14 Mar) 22233 – Ext Handle (13 Mar) 22371 – Ext Handle (13 Mar) 22408 – C TPO VWAP (13 Mar) 22447 – A TPO VWAP (13 Mar) |
| Down |
| 22258 – M TPO halfbak 22209 – PBL (14 Mar) 22152 – Ext Handle (14 Mar) 22104 – Buy Tail (14 Mar) 22069 – IB tail mid (14 Mar) |
BankNifty Mar F: 46996 [ 47447 / 46791 ]
| Open Type |
|---|
| ORR (Open Rejection Reverse) |
| Volumes of 23,381 contracts |
| Initial Balance |
|---|
| 301 points (47062 – 46791) |
| Volumes of 41,882 contracts |
| Day Type |
|---|
| Normal Variation – 656 points |
| Volumes of 1,76,943 contracts |
BNF gave a rare follow down to a Neutral Extreme (NeuX) profile as it made a low of 46791 in the opening minutes but saw some late sellers get stuck in this previous demand zone from 01st Mar triggering a sharp bounce as it left an A period buying tail and not only got back into previous day’s range but climbed above the NeuX VWAP of 47298 to test the IBH of 47425 while making a high of 47447 in the E TPO.
The auction marked the end of the OTF (One Time Frame) forming an inside bar in the F period and confirmed reversal from the G TPO onwards as it made lower lows till the L negating the entire rise since open and took support right at the buying singles of 46920 before closing around the POC of 47024.
BNF still looks weak on the higher timeframe with the FA of 47684 still in play so can expect a test of the Roll Over point of 46610 & 2 ATR target of 46442 in the coming session(s) with today’s selling footprints of 47199 & 47335 as upside references.
Click here to view the latest profile in BNF on Vtrender Charts
Daily Zones
- Largest volume (POC) was traded at 47024 F and VWAP of the session was at 47121
- Value zones (volume profile) are at 46920-47024-47267
- BNF confirmed a FA at 47684 on 13/03 and tagged the 1 ATR objective of 47063 on the same day. The 2 ATR target comes to 46442
- HVNs are at 47521** / 48217 (** denotes series POC)
Weekly Zones
- Weekly Charts can be viewed here
- (07-14 Mar) – BNF has formed an inside bar on the weekly with overlapping to lower value at 47000-47518-47593 and is a Trend Down one which has moved away to the downside from the prominent POC of 47518 so this week’s VWAP of 47600 will now be the swing reference for the coming week
- (01-06 Mar) – BNF left a Trend Up weekly profile hitting the 2 IB target of 48343 forming completely higher value at 47444-47567-48229 with a closing HVN at 48217 which will be the immediate reference on the upside in the coming week staying above which it could go for the higher VPOC of 48480 and HVN of 48864 from the weekly profile of 11th to 17th Jan whereas on the downside, this week’s VWAP of 47694 will be an important swing support.
Monthly Zones
- The settlement day Roll Over point (March 2024) is 46610
- The VWAP & POC of Feb 2024 Series is 46119 & 45700 respectively
- The VWAP & POC of Jan 2024 Series is 46353 & 48119 respectively
- The VWAP & POC of Dec 2023 Series is 47337 & 47918 respectively
Business Areas for 15th Mar 2024
| Up |
| 47024 – POC (14 Mar) 47199 – I TPO halfback 47335 – G TPO VWAP 47475 – D TPO VWAP (13 Mar) 47684 – FA (13 Mar) |
| Down |
| 46942 – M TPO low 46780 – A TPO h/b (01 Mar) 46649 – Closing tail (29-Feb) 46504 – HVN (29-Feb) 46383 – VWAP (29-Feb) |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.