Nifty Feb F: 22005 [ 22028 / 21846 ]
| Open Type |
|---|
| OA (Open Auction) |
| Volumes of 19,607 contracts |
| Initial Balance |
|---|
| 131 points (21977 – 21846) |
| Volumes of 53,169 contracts |
| Day Type |
|---|
| Normal Variation – 182 pts |
| Volumes of 1,64,763 contracts |
NF continued previous session’s closing imbalance with a higher open but stalled right below the extension handle of 21986 as it tagged 21976 and probed lower in the IB (Initial Balance) getting back into previous day’s range and testing the K TPO singles zone from 21867 to 21790 while making a low of 21846 taking support right above an earlier supply point from 12th Feb showing change of polarity as it left a small buying tail at lows.
The auction then made an attempt to scale into the A period singles but could only manage to hit 21955 in the C side stalling right at previous week’s VWAP after which it began to coil in a narrow range building volumes at 21920 till the H TPO but left couple of PBLs (Pull Back Low) at 21889 in the D & G periods as the day’s VWAP test did not attract any fresh supply which got back the buyers in the I who made a RE (Range Extension) to the upside getting above previous week’s POC of 21996 while making a high of 22024 and followed it with marginal new highs of 22028 in the J period stopping just short of 08th Feb’s B TPO halfback of 22031.
NF then saw some profit booking by the longs causing a retracement lower in the K TPO as it made a probe back into the IB but left a PBL at 21960 holding the SOC (Scene Of Crime) of 21955 confirming that the PLR (Path of Least Resistance) remained to the upside and made a bounce back to 22022 into the close forming completely higher Value for the day.
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Daily Zones
- Largest volume (POC) was traded at 21920 F and VWAP of the session was at 21944
- Value zones (volume profile) are at 21854-21920-21977
- 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 16th Feb 2024
| Up |
| 22020 – HVN from 15 Feb 22075 – Sell Tail (08 Feb) 22110 – Swing High (08 Feb) 22140 – SOC from 02 Feb 22189 – Selling tail (02 Feb) |
| Down |
| 21985 – L TPO POC 21944 – VWAP from 15 Feb 21888 – PBL from 15 Feb 21834 – K TPO halfback 21790 – Ext Handle (14 Feb) |
BankNifty Feb F: 46385 [ 46465 / 45678 ]
| Open Type |
|---|
| OAIR (Open Auction In Range) |
| Volumes of 22,970 contracts |
| Initial Balance |
|---|
| 571 points (46250 – 45679) |
| Volumes of 81,156 contracts |
| Day Type |
|---|
| Normal Variation – 786 points |
| Volumes of 2,18,899 contracts |
to be updated…
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Daily Zones
- Largest volume (POC) was traded at 46327 F and VWAP of the session was at 46058
- Value zones (volume profile) are at 45887-46327-46368
- HVNs are at 45603 / 45998 / 46330** (** 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 16th Feb 2024
| Up |
| 45465 – Spike high (15 Feb) 46580 – K TPO POC (02 Feb) 46686 – NeuX VWAP (02 Feb) 46825 – VPOC from 02 Feb 46991 – SOC from 02 Feb 47088 – Selling tail (02 Feb) |
| Down |
| 46374 – M TPO halfback 46220 – K TPO VWAP 46058 – VWAP (15 Feb) 45900 – LVN from 15 Feb 45740 – Buy Tail (15 Feb) 45594 – PBL 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.