Nifty Dec F:
As mentioned in the Friday’s report – ‘On the upside, a move above 10850 can take it to recent highs of 10882 & above 10885 it can tag the VPOC of 10908 & 10926.‘, NF opened with a small gap of 35 points above that 10850 level making a OL start of 10855 & in the opening probed higher to tag the previous week highs of 10882 but then there was no new demand & NF got stuck in a narrow range leaving a buying tail at 10865-10820 and traded most of the day between 10902-10875 before it gave a dip to leave a pull back low at 10868 again indicating that the morning tail is being defended, it then went on to make new highs for the day tagging that VPOC of 10908 & making a high of 10924 before closing just above the dVAH. NF has moved away from the 2-day balance it made late last week & Value was non-overlap plus higher for the day though the range & volumes were on the lower side. NF has immediate support at 10885-880 levels below which important support for this week will be 10865 & till these levels hold the path of least resistance in NF is to probe higher.
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- The NF Open was a Open Auction Out of Range
- The day type was a Normal Variation Day (Up)
- Largest volume was traded at 10885 F
- Vwap of the session was at 10890 with volumes of just 68.8 L in a session which traded a High-Low range of 10924-10855 for a narrow range of just 69 points
- The VWAP & POC of Nov Series 10480 & 10580 respectively. It tagged the VWAP on 11/12 but closed above it
- The VWAP & POC of 31/10 10250 & 10248 will be important levels going forward
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 10868-10885-10905
Hypos / Estimates for the next session:
a) Support for the auction has risen to 10885
b) Supply will be at 10950 still
c) 10813 is support 2 which should bring back buyers
BankNifty Dec F:
BNF looked like a Open Test Drive when it gapped up a 100 points, tagged that VPOC of 26970 & probed higher confirming a multi-day FA at 26770 & went on to tag the 1 ATR target which was 27058 all in the opening 5 mins but then volumes simply died down after it & BNF also was confined to a small range of less than 100 points for most part of the day even as it left a buying tail of 27021-26880 in the morning. BNF went on to get above IBH but could not even tag the 1.5 IB making a ‘p’ profile. BNF did give a dip in the afternoon to break below VWAP & the previous week high of 27029 & tested the morning buying tail to give a pull back low of 26994 from where it proceeded to get back above VWAP & IBH to make new day highs at 27129 but got swiftly rejected from there to leave a small selling tail on top & closed at the POC of the ‘p’ profile & will be the zone to watch tomorrow at open to see if it gets accepted above it to continue the probe upside.
- The BNF Open was a Open Auction Out of Range
- The day type was a Normal Variation Day (‘p’ profile)
- Largest volume was traded at 27085 F
- Vwap of the session was at 27060 with a new record low volumes this series of just 18.6 L in a session which traded a High-Low range of 27129-26960 for 169 points
- BNF had confirmed a multi-day FA today at 26770 and tagged the 1 ATR target of 27058. The 2 ATR move from this FA comes to 27346
- BNF negated the FA of 27029 it left on 13/12 without tagging the 1 ATR move down & closed above it today so can do a 1 ATR move to the upside which comes to 27330
- BNF had left a FA at 26453 on 10/12 and tagged the 2 ATR target of 25927 on 11/12. It got back above this FA on 12/12 at T+2 days & completed the 2 ATR move at 26976 on the upside on 13/12. This is now important support.
- BNF had confirmed a multi-day FA on 05/12 at 26745 and tagged the 2 ATR target of 26237 on 06/12. BNF tagged & closed above this FA on 12/12 which was T+5 Days and tagged the 1 ATR move up of 26999 on 13/12
- 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 1 ATR of 25102 & has stayed above the 2 ATR of 25575
- The VWAP & POC of Nov Series 25686 & 26218 (Spot) respectively
- 31st October’s VWAP of 24895 & POC of 24900 will be important levels going forward
For the Monthly charts & other swing levels for BankNifty & BNF click here & for the weekly charts & analysis, please click here.
Daily Zones:
- Value zones ( volume profile) are at 27041-27085-27095
Hypos / Estimates for the next session:
a) The BNF has support at 26980
b) Supply may still come at 27156 higher
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