Nifty Jan F: 22029 [ 22138 / 21964 ]
| Open Type |
|---|
| OAIR (Open Auction In Range) |
| Volumes of 9,338 contracts |
| Initial Balance |
|---|
| 68 points (22122 – 22039) |
| Volumes of 22,465 contracts |
| Day Type |
|---|
| Neutral Centre – 173 points |
| Volumes of 1,03,215 contracts |
NF rejected the spike close of previous session and opened inside the Value even breaking below theVWAP of 22084 negating the bullishness as it made a low of 22039 in the opening minutes and made a slow probe higher for the rest of the IB (Initial Balance) making a high of 22122 in the B period stalling just below yVAH of 22123 after which it made marginal new highs of 22124 in the C followed by another marginal RE to 22138 in the D but could not attract fresh demand.
The auction then got back into the IB in the E TPO and went on to break below day’s VWAP in the F triggering a fresh move lower as it first got into the A period singles in G and then went on to make couple of big RE’s to the downside in the H & I TPOs confirming a FA (Failed Auction) at highs and almost completing the 1 ATR objective of 21954 while making a low of 21964.
The test of 12th Jan’s closing tail brought in some profit booking and gave a typical bounce back to day’s VWAP as NF left a PBH at 22064 in the important K period signalling that the sellers were still on control and closed right at the dPOC of 22027 leaving a Neutral Centre Day with overlapping to lower Vaule but a fresh swing reference of 22138 below which the PLR (Path of Least Resistance) in the coming session(s) would be on the downside with the 2-day composite throwing up a nice balance with Value at 22036-22084-22128 which will be the zone to watch on the upside.
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Daily Zones
- Largest volume (POC) was traded at 22027 F and VWAP of the session was at 22057
- Value zones (volume profile) are at 22003-22027-22092
- NF confirmed a FA at 22138 on 16/01 and almost tagged the 1 ATR objective of 21954 on the same day. The 2 ATR target comes to 21770
- 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 17th Jan 2024
| Up |
| 22037 – 2-day VAL (15-16 Jan) 22069 – SOC from 16 Jan 22138 – FA from 16 Jan 22183 – Weekly 2 IB 22213 – Monthly 1.5 IB |
| Down |
| 22000 – Buying Tail (16 Jan) 21954 – 1 ATR (FA 22138) 21904 – PBL from 12 Jan 21872 – Trend Day VPOC (12 Jan) 21839 – Mid-profile singles (12 Jan) |
BankNifty Jan F: 48225 [ 48440 / 48078 ]
| Open Type |
|---|
| OAIR (Open Auction In Range) |
| Volumes of 9,754 contracts |
| Initial Balance |
|---|
| 220 points (48412 – 48162) |
| Volumes of 31,046 contracts |
| Day Type |
|---|
| Neutral – 447 points |
| Volumes of 1,32,841 contracts |
BNF made an open in previous Value taking support just above yVWAP of 48185 as it made a low of 48192 and probed higher making a look up above the mini spike of previous close making a high of 48412 but followed it with the dreaded C side extension to 48440 which did not attract any fresh demand and the auction ended up confriming a FA (Failed Auction) at highs as it went on to swipe through previous Value completing the 80% Rule while making a low of 48078 but left a small responsive tail at lows getting back into the IB (Initial Balance) and closing right at the dPOC of 48218.
The day’s profile was a Neutral Centre one with a FA at 48440 and overlapping value hence giving a nice 2-day Gaussian Curve with the Value at 48151-48227-48374 with the PLR (Path of Least Resistance) to the downside towards the 1 ATR & 2 ATR objectives of 47913 & 47386 respectively in the coming session(s).
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Daily Zones
- Largest volume (POC) was traded at 48218 F and VWAP of the session was at 48278
- Value zones (volume profile) are at 48188-48218-48369
- BNF confirmed a FA at 48440 on 16/01 and the 1 & 2 ATR objectives come to 47913 & 47386 respectively
- HVNs are at 47956 / 48007 / 48157** / 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 17th 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.