Nifty Dec F: 21527 [ 21594 / 21415 ]
| Open Type |
|---|
| OAIR (Open Auction In Range) |
| Volumes of 9,617 contracts |
| Initial Balance |
|---|
| 100 points (21515 – 21415) |
| Volumes of 35,373 contracts |
| Day Type |
|---|
| Normal Variation – 180 points |
| Volumes of 1,25,220 contracts |
NF made an almost OL (Open=Low) start at 21480 and probed higher scaling above the HVN of 21490 but fell just short of the yPOC of 21520 as it made a high of 21515 indicating lack of fresh demand which was taken advantage of by the sellers as they not only broke below PDL while making a low of 21440 in the A period but made a look down below 15th Dec’s PBL of 21430 while hitting 21415 in the B.
The auction then did a rebel in the C side as it got back above day’s VWAP leaving a SOC (Scene Of Crime) at 21457 marking the change of character and more confirmation of this came in the D period which made higher highs triggering an OTF (One Time Frame) probe till the K TPO where it not only tagged 15th Dec’s VPOC of 21564 but went on to record new ATH of 21594 but yet again saw big profit booking coming in as the dPOC shifted higher to 21583.
The shifting of the dPOC caught the laggard longs on the wrong foot causing a quick liquidation drop down to 21512 into the close as NF took support right at the day’s VWAP leaving an Outside Bar both in terms of range & value with an equal fight between sellers and buyers who have their levels marked at today’s POC & VWAP of 21583 & 21513 respectively.
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Daily Zones
- Largest volume (POC) was traded at 21583 F and VWAP of the session was at 21513
- Value zones (volume profile) are at 21485-21583-21591
- HVNs are at 20377 / 21032** (** denotes series POC)
Weekly Zones
- (08-14 Dec 2023) – NF left a Neutral Extreme weekly profile to the upside after making an attempt to move away from previous week’s prominent POC of 21032 to the downside which got stalled as it left similar lows of 20902 & 20900 while forming a 4-day balance with the composite POC at 21088 and the failed attempt to the downside triggered an initiative move higher on the last day as it left a buying tail from 21228 to 21177 and went on to hit new ATH of 21355 into the close. Value for the week was overlapping to higher at 20925-21088-21124 with the VWAP at 21101 and will be the new swing reference on the downside
- (01-07 Dec 2023) – The first week of the current series was a Trend One up with an initiative buying tail from 20345 to 20292 followed by another zone of singles from 20640 to 20402 as it went on to make a high of 21046 leaving a small selling tail at the top and saw the POC shift near the top to 21032 suggesting profit booking by the longs. Value was completely higher at 20697-21032-21045 with the Trend Up VWAP at 20800
- (Oct-Nov 2023) – NF had left 4 weekly VPOCs on the downside at 19077, 19248, 19800 & 20189 before the December series began indicating that the major trend was already to the upside
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Monthly Zones
- The settlement day Roll Over point (December 2023) is 20270
- The VWAP & POC of Nov 2023 Series is 19562 & 19806 respectively
- The VWAP & POC of Oct 2023 Series is 19468 & 19537 respectively
- The VWAP & POC of Sep 2023 Series is 19736 & 19672 respectively
Business Areas for 20th Dec 2023
| Up |
| 21541 – L TPO VWAP (19 Dec) 21583 – dPOC from 19 Dec 21630 – 1 ATR (WVWAP 21485) 21660 – 1 ATR (yVWAP 21513) 21688 – 1 ATR from 21541 |
| Down |
| 21513 – VWAP from 19 Dec 21457 – SOC from 19 Dec 21415 – PDL 21384 – HVN from 15 Dec 21356 – Buying Tail (15 Dec) |
BankNifty Nov F: 48009 [ 48228 / 47784 ]
| Open Type |
|---|
| OA (Open Auction) |
| Volumes of 9,530 contracts |
| Initial Balance |
|---|
| 215 points (48000 – 47784) |
| Volumes of 24,866 contracts |
| Day Type |
|---|
| Normal Variation –443 points |
| Volumes of 1,17,697 contracts |
BNF made an OH (Open=High) start at 48000 and probed lower giving a move away from the 3-day Value hitting 47798 in the A period after which it made marginal new lows of 47784 in the B TPO taking support just above the 3-day buying tail of 47780 indicating buyers defending this zone.
The C side then gave more confirmation of auction turning to the upside as it got back above day’s VWAP but got stalled right at the 3-day VAL of 47899 while making a high of 47907 and formed a narrow range inside bar in the D period as the supply seemed to be getting absorbed before it went on to make a big move in the E TPO getting back into the composite Value triggering the 80% Rule which it promptly completed in the H where it made a high of 48143 and saw the dPOC shifting to 48124 signalling profit booking.
BNF then made a small dip lower to 48035 in the I period taking support just above the 3-day POC of 48023 which meant that the upside was still not done and followed it by making a fresh RE in the J hitting new highs of 48228 just missing the 15th Dec’s VPOC of 48234 hinting at sellers being active in this zone as it formed a uncharacteristic narrow range inside bar in the K TPO and got back into the 3-day value in the L making a look down below day’s VWAP while making a low of 47961 before closing the day at 48009 forming an outside bar for the day and leaving a smoother 4-day Gaussian Curve with Value at 47917-48006-48180 hence will need initiative volumes at 48006 which is also now the series POC for a move away from this balance. (Click here to view the composite only on Vtrender Charts)
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Daily Zones
- Largest volume (POC) was traded at 48124 F and VWAP of the session was at 48005
- Value zones (volume profile) are at 48076-48124-48226
- BNF confirmed a FA at 46961 on 08/12 and tagged the 2 ATR objective of 47913 on 14/12. This FA has not been tagged and is now a positional reference
- HVNs are at 45127 / 47012 / 47145 / 48006** (** denotes series POC)
Weekly Zones
- (07-13 Dec 2023) – It was time for consolidation after the trending move in the previous week as BNF formed a relatively narrow range 3-1-3 profile for the week with overlapping to higher Value at 47125-47393-47621 and will need initiative activity to negate one of the tails to get back to imbalance mode in the coming week
- (01-06 Dec 2023) – The first week of the December series was an elongated triple distribution trend up one with an initiative buying tail from 44942 to 44762 signalling a move away from the larger timeframe balance it had been forming with the help of two more zone of singles, first one from 45856 to 45602 and then from 46860 to 46724 as it went on to record new ATH of 47494 but came in form of the dreaed C side extension on 05th Dec triggering a profit booking round as BNF closed the week right at the POC of 46927 with the VWAP at 46416 which will be the swing reference for longs going forward
- (Oct-Nov 2023) – BNF had left a lone VPOC on the downside in October at 43170 before moving away from this on the upside in November forming a Double Distribution Trend Up profile with a prominent TPO POC at 44048 and the volume POC at 44607
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Monthly Zones
- The settlement day Roll Over point (December 2023) is 44720
- The VWAP & POC of Nov 2023 Series is 43837 & 43619 respectively
- The VWAP & POC of Oct 2023 Series is 43718 & 44346 respectively
- The VWAP & POC of Sep 2023 Series is 44808 & 44438 respectively
Business Areas for 20th Dec 2023
| Up |
| 48054 – L TPO VWAP (19 Dec) 48137 – Sell side SOC (19 Dec) 48234 – VPOC from 15 Dec 48375 – Swing High (15 Dec) 48496 – 1 ATR (HVN 47955) |
| Down |
| 47946 – E TPO VWAP (19 Dec) 47860 – Buy side SOC (19 Dec) 47780 – 4-day buying tail 47650 – 4-day composite low 47532 – Weekly HVN (07-13 Dec) |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.