Nifty May F:
NF gave yet another OAIR start and remained in a narrow range of just 29 points in the IB (Initial Balance) with very poor volumes suggesting that only locals were there in the market and hence there would only be small rotations unless the volumes increased. (Click here to view the profile chart for better understanding) The auction probed lower in the ‘C’ & ‘D’ periods breaking below the IBL but did not find any new selling nor any increase in volumes due to which NF reversed its probe to the upside and made small rotations higher till the ‘G’ period as it got above IBH but here also got immediately rejected due to lack of fresh demand at new highs and went on to break below VWAP and tagged the IBL as it made a higher low of 11165 which again saw rejection after which the ‘I’ period made an inside bar with the lowest volumes for the day indicating that the coiling could have been over & the auction was ready for a big afternoon move on a weekly expiry day. NF did not disappoint as it made a huge trending move in the ‘J’ period making new highs as it moved above IBH to confirm a FA at 11165 & then left an extension handle at 11204 giving a quick rise as it completed the 3 IB move up of 11253 in the same period. The auction continued to probe higher in ‘K’ as it made a new high of 11287 as the imbalance to the upside stalled and NF gave a late afternoon pull back low of 11218 in the ‘L’ period as it took support just above VWAP after which it went on to complete a Neutral Extreme profile to the upside as it spiked higher into the close making new highs of 11309 negating that FA of 11300.
- The NF Open was a Open Auction In Range (OAIR)
- The day type was a Neutral Extreme Day – Up (3 IB)
- Largest volume was traded at 11180 F
- Vwap of the session was at 11210 with volumes of 105.8 L in a session of 158 points trading in a High-Low range of 11310-11152
- NF confirmed a new FA at 11165 on 16/05 and tagged the 1 ATR move of 11293. The 2 ATR move up comes to 11421
- NF confirmed a FA at 11695 on 06/05 and has tagged the 2 ATR target of 11480. This FA has not been tagged & is now strong resistance
- NF confirmed a FA at 11376 on 10/05 and tagged the 2 ATR of 11143. This FA is on ‘T+5’ Days
- NF confirmed a FA at 11397 on 09/05 and the tagged 2 ATR move lower at 11165. This FA is on ‘T+6’ Day
- The settlement day Roll Over point is 11722
- The VWAP & POC of Apr Series is 11641 & 11592 respectively.
- The VWAP & POC of Mar Series is 11327 & 11448 respectively.
- The VWAP & POC of Feb Series is 10830 & 10856 respectively.
You can check the monthly charts & other swing levels for Nifty & NF here & for the weekly charts & analysis, please click here.
Daily Zones:
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- Value zones (volume profile) are at 11160-11190-11250
Hypos / Estimates for the next session:
a) Staying above 11285 at open NF can move higher to tag 11306 & 11328-330
b) Sustaining below 11270, the auction could test 11246-242 & 11218-204
c) Above 11330, NF can rise to 11349-358 & 11373-376
d) Below 11204, the auction could fall to 11180 & 11165-155
e) If NF stays above the FA of 11376, it can tag 11397 and 11419-421
f) Break of 11155 can bring lower levels of 11138 & 11120 into play
BankNifty May F:
BNF gave a reverse replica of the previous day’s profile as it opened in the spike & remained in a very narrow range leaving an IB range of just 75 points and was balancing around the HVN of 28640 for most part of the day. (Click here to view the profile chart for better understanding) The previous day was a 3 IB Down Day and hence the downside looked limited today & there were 2 failed attempts to make a range extension lower and another one to the upside but the lack of volumes held BNF from moving away from the balance till the ‘J’ period when the auction finally managed to make a successful range extension and completed the 3 IB move up for the day in the same period itself. BNF continued to probe higher after giving a pull back low at 28741 in the ‘L’ period to make highs of 29050 leaving a mirror Neutral Extreme profile but this time to the upside and almost in the same range as previous day.
- The BNF Open was a Open Auction In Range (OAIR)
- The day type was a Neutral Extreme Day – Up (3 IB)
- Largest volume was traded at 28645 F
- Vwap of the session was at 28725 with volumes of 28.3 L in a session which traded a High-Low range of 29050-28571 for a range of 479 points
- BNF confirmed a weekly FA at 29198 on 15/05. The 1 ATR move down comes to 28384
- BNF confirmed a FA at 29418 on 08/05 & has tagged the 1 ATR move of 29000 . The 2 ATR move down from this FA comes to 28581 which got tagged today.
- BNF confirmed a weekly FA at 29945 on 07/05. The 1 ATR move down of 29136 was tagged on 08/05. The 2 ATR move lower comes to 28327
- The settlement day Roll Over point is 29760
- The VWAP & POC of Apr Series is 30037 & 29762 respectively.
- The VWAP & POC of Mar Series is 29061 & 29778 respectively.
- The VWAP & POC of Feb Series 27042 & 26978 respectively
For the Monthly charts & other swing levels for BankNifty & BNF click here & for the weekly charts & analysis, please click here.
Daily Zones:
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- Value zones (volume profile) are at 28590-28645-28825
Hypos / Estimates for the next session:
a) BNF sustaining above 28997 could tag 29050-112 & 29169-200
b) Staying below 28922-890, the auction can probe lower to 28832 & 28741-704
c) Above 29200, BNF could rise to 29280 & 29364-377
d) Below 28704, the auction can test lower levels of 28645 & 28595-570
e) If 29377 is taken out, BNF can attempt to take out 29419-445 & 29550-590
f) Break of 28570 could lead a move down to 28512 & 28436-408
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