Nifty Jan F: 22133 [ 22150 / 21995 ]
| Open Type |
|---|
| OAOR (Open Auction Out of Range) |
| Volumes of 17,935 contracts |
| Initial Balance |
|---|
| 109 points (22104 – 21995) |
| Volumes of 42,463 contracts |
| Day Type |
|---|
| Normal – 155 points |
| Volumes of 1,03,458 contracts |
NF continued the upside imbalance with a gap up open of 103 points scaling above 01st Jan’s Swing high of 22025 as it went on to record new ATH of 22104 in the first half of the A period but settled down into an OAOR (Open Auction Out of Range) causing the B TPO to do a rebel as it made a quick probe lower closing the entire gap while making a low right at PDH of 21995 leaving an initiative selling tail from 22074 to 22104.
The auction rejected this entry into previous day’s range leaving a buying tail till 22025 at the end of C side indicating that the PLR (Path of Least Resistance) was very much to the upside and made a slow OTF (One Time Frame) probe higher getting accepted in the A period singles which was followed by quick retracement first to day’s VWAP where it left a PBL at 22058 in the J period and then a RE (Range Extension) to the upside resulting in new highs of 22128.
NF then formed a quiet inside bar in the K TPO and went on to spike higher to 22150 into the close completing the weekly 1 ATR obejctive from previous week’s POC of 21703 to the dot leaving a Normal Day and a ‘p’ shape profile with completely higher Value hence the dPOC of 22085 along with the buying tail from 22025 will be the important levels to watch on the downside in the coming session(s).
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Daily Zones
- Largest volume (POC) was traded at 22085 F and VWAP of the session was at 22084
- Value zones (volume profile) are at 22045-22085-22123
- HVNs are at 21755** / 21890 (** denotes series POC)
Weekly Zones
- (05-11 Jan) – NF has formed a Normal Variation profile to the downside which made a look down below previous lows but left an initaitive buying tail on the daily timeframe from 21528 to 21501 forming a nice balance over the 5 days with Value being completely inside at 21635-21703-21797 and this week’s VWAP also around the middle at 21690 where it closed and will need initiative volumes at one end in the coming week for a fresh imbalance to begin
- (29 Dec-04 Jan) – NF has formed a Neutral Centre weekly profile as it made a look up above previous highs but got rejected after making new ATH of 22025 and went on to make a low of 21579 taking support right above last week’s lower TPO HVN of 21570 filling up the low volumes zones and forming mostly overlapping Value at 21640-21748-21875 with a point to note that the sellers who had come in forming a base at 21890 had mostly booked profits at lower levels where it saw some short covering and fresh demand coming back.
Monthly Zones
- The settlement day Roll Over point (January 2024) is 21930
- The VWAP & POC of Dec 2023 Series is 21226 & 21377 respectively
- The VWAP & POC of Nov 2023 Series is 19562 & 19806 respectively
- The VWAP & POC of Oct 2023 Series is 19468 & 19537 respectively
Business Areas for 16th Jan 2024
| Up |
| 22144 – Closing tail (15 Jan) 22183 – Weekly 2 IB 22213 – Monthly 1.5 IB 22269 – 1 ATR (yPOC 22085) 22317 – 1 ATR (22133) |
| Down |
| 22123 – M TPO low (15 Jan) 22084 – VWAP from 15 Jan 22025 – Buying Tail (15 Jan) 21976 – Closing tail (12 Jan) 21947 – HVN from 12 Jan |
BankNifty Jan F: 48306 [ 48380 / 47933 ]
| Open Type |
|---|
| OA (Open Auction) |
| Volumes of 21,939 contracts |
| Initial Balance |
|---|
| 287 points (48220 – 47933) |
| Volumes of 47,972 contracts |
| Day Type |
|---|
| Normal Variation – 447 points |
| Volumes of 1,31,903 contracts |
to be updated…
to be updated…
to be updated…
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Daily Zones
- Largest volume (POC) was traded at 48109 F and VWAP of the session was at 48185
- Value zones (volume profile) are at 48105-48109-48307
- HVNs are at 47956** / 48007 / 48555 (** denotes series POC)
Weekly Zones
- (04-10 Jan) – BNF has once again formed a Neutral Extreme Down weekly profile which first filled up the low volume zone of previous week and then went on repair the poor lows with a sharp move lower testing the swing lows of 47303 (21-28 Dec) while tagging 47201 before giving a bounce back to 47666 into the close. Value for the week was completely overlapping at 47670-48076-48601 with the main supply reference being at the NeuX VWAP of 47970
- (29 Dec-03 Jan) – BNF has formed a Neutral Extreme which also reresents a Double Distribution Trend Down profile which got stalled right below previous week’s POC of 48879 on the upside and went on to fill the low volume zone till 48446 and made an initiative move with a small selling tail from 48346 to 48256 as it went on to make poor lows at 47763 forming a lower balance with the POC also shifting down to 47956. Value for the week was at 47765-47956-48542 with the important DD VWAP being at 48278 which will be the swing reference for the coming settlement.
Monthly Zones
- The settlement day Roll Over point (January 2024) is 48900
- The VWAP & POC of Dec 2023 Series is 47337 & 47918 respectively
- The VWAP & POC of Nov 2023 Series is 43837 & 43619 respectively
- The VWAP & POC of Oct 2023 Series is 43718 & 44346 respectively
Business Areas for 16th Jan 2024
| Up |
| to be updated… |
| Down |
| to be updated… |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.