Nifty Nov F:
NF had a small gap open & stayed above the composite VAH of 10650 & probed higher repairing the poor highs of 10680 of last 2 days & tagging the selling tail of the trend day down of 17th Oct. It also tried to extend IBH but immediately got rejected as there was no new demand above 10705 reversing the day’s auction to the downside where it again took support just above that VAH of the composite making a low of 10652 before bouncing back to tag 10698 & again meeting sellers who then drove price lower breaking VWAP and making new low for the day confirming a FA at day’s high of 10709 but the new low which tagged the HVN of 10640 was also swiftly rejected with NF getting back into IB & then rallying in the last 30 mins almost tagging the IBH again but closed near the dVAH. We have made a nice bell profile on daily & Value has been higher so PLR looks to be up & we have a probable multiday FA at 10636 if we get above 10705 at open next week.
-
- The NF Open was a Open Rejection Reverse
- The day type was a Normal Day (Bell Curve)
- Largest volume was traded at 10670 F
- Vwap of the session was at 10675 with volumes of 95.5 L in a session which traded a High-Low range of 10709-10636 for 73 points
- NF confirmed a FA today at 10709 and the 1 ATR target is 10566
- NF also has a good chance of leaving a multi-day FA at 10636 if gets above 10705-710 on 19/11 and the 1 ATR target for that FA comes to 10779
- 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 16/11)
Daily Zones:
-
- Value zones (volume profile) are at 10662-10670-10694
Hypos / Estimates for the next session:
a) Bullish above 10670F and 10720F
b) Intra day supply at 10775
c) Break away from the range can target 10860/ 10880
BankNifty Nov F:
BNF looked like giving a Open Test Drive up as it opened just above the yPOC & probed higher to make new highs & then extended the first 30 mins but volumes kept falling & this stalled the rise after which BNF started probing lower & took support just above the singles of Thursday’s DD singles of 26140-26077 before settling down to make a bell profile on daily with a prominent POC at 26255 & the close was also right there. The range in BNF today was the lowest in 3 months & we can expect a bigger range to follow. The PLR is still up & the DD singles also are intact so a probe upto the 26470 level is still on which is the 1ATR move from that failed FA of 26080.
- The BNF Open was an Open Auction
- The day type was a Normal Variation Day (Bell Curve)
- Largest volume was traded at 26255 F
- Vwap of the session was at 26237 with volumes of 31.1 L in a session which traded a High-Low range of 26334-26145 for 189 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 and closed above it
- 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 26200-26255-26290
Hypos / Estimates for the next session:
a) The auction is bullish above 26070
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
For more tradeable ideas and intraday trading strategies based on MarketProfile and the OrderFlow live charts with OrderFlow analysis Live, subscribe to the trading room. The Vtrender Trading Room hosts India’s largest MarketProfile community live every trading session from 9.15 am to 3.30 pm.
If not a Trading Room member you can get immediate access at – https://in.explara.com/e/vtrender–trading–room/checkout