Nifty Nov F:
NF made an OAIR which was also inside previous day’s Value indicating a quiet first part of the day & it remained inside previous day Value for the first couple of hours before giving an range extension to the upside & giving a 2IB day with the same high as yesterday thereby making an Inside Day with poor highs in NF if we combine the last 2 day’s profiles as that selling tail of 10655-10680 was negated today. However, we saw some long liquidation & fresh shorts coming into the last 45 minutes as it left a pull back high at 10670 to close below VWAP. The 2 day composite gives a perfect bell in NF & the close today is at the composite POC so we could get a trending move away from here.
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- The NF Open was a Open Auction in Range (in Value)
- The day type was a Normal Variation Day
- Largest volume was traded at 10621 F
- Vwap of the session was at 10635 with volumes of 88.6 L in a session which traded a High-Low range of 10680-10586 for 94 points
- The vwap of 29/10 at 10175 is strong support now which was broken intraday but re-captured
- We had a FA at 10111 on 31/10 which has done its 2 ATR objective & is now strong support
- The VWAP & POC of 31/10 10250 & 10248 will be important levels going forward
For the weekly and other swing levels of the Nifty go to – https://vtrender.in/monthly-and-weekly-charts-analysis(has monthly and weekly Profile charts updated to trade date 09/11)
Daily Zones:
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- Value zones (volume profile) are at 10617-10621-10663
Hypos / Estimates for the next session:
a) supply at 10670 once again showed up and is now active supply for tom session
b) 10596 is immediate supp along with 10550
c)Broader auction continues as a range
BankNifty Nov F:
BNF also had a OAIR (inside Value) start to the day with a freak high at 26094 & went on to test yVAL & as typical of a OAIR open reversed from there after making a low of 25905. We had marked 25850 as the level BNF had to break for that FA of 26080 to get effective which never happened & once BNF got back above vwap post IB, it kept one time framing up getting above 26045 giving a new multi-day FA at 25811 and leaving an extension handle at 26077 to first tag the 1 ATR of today’s FA at 26208 & then the 2 ATR target of 26230 from the first FA we had this week at 25429. BNF ended the day as a Double Distribution Day with singles at 26077-26140 which will be the levels to watch tomorrow as support & for upside above today high BNF can go for that 1 ATR move of 26470 from that negated FA of 26080.
- The BNF Open was an Open Auction in Range (in Value)
- The day type was a Double Distribution Trend Day (Up)
- Largest volume was traded at 26185 F
- Vwap of the session was at 26077 with volumes of 35.8 L in a session which traded a High-Low range of 26255-25905 for 350 points
- BNF negated the FA made at 26080 on 14/11 and the 1ATR target to the upside is 26472
- BNF confirmed a multi-day FA today at 25811 and tagged the 1 ATR target of 26208
- The FA of 13/11 at 25429 is now strong support as has tagged the 2 ATR target of 26230
- BNF has stayed above the vwap of 17/10 which was 25500 and is now support
- We had a FA at 24625 on 31/10 which has completed 1ATR of 25102 & has stayed above the 2ATR of 25575
- another FA we had on 30/10 of 25214 is now support
- 31st October’s VWAP of 24895 & POC of 24900 will be important levels going forward
For the weekly and other swing levels of the Bank Nifty go to – https://vtrender.in/monthly-and-weekly-charts-analysis/(The BN Monthly and BN weekly F charts are posted at the same link)
Daily Zones:
- Value zones ( volume profile) are at 26035-26185-26252
Hypos / Estimates for the next session:
a) auction crossed the FA at 26080 and this zone is now a supp
b) staying above 26140 the auction expected to do 26420 higher
c)Failure is below 26080 which can spark a fast drop to 25960 and 25860
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