Nifty Mar F:
NF opened higher with a gap of 40 points confirming a multi-day FA at 10850 and probed lower making a low of 10873 but stayed above previous day’s Value as it made a high of 10921 in the ‘A’ period. (Click here to view the profile chart for better understanding) Unable to scale above the morning highs, the auction then began to make a slow move lower as it one time framed (OTF) down till the ‘H’ period and briefly broke below the IBL of 10873 making a low of 10870 but could not extend much lower making similar lows of 10872 in the ‘I’ & ‘J’ period too signalling exhaustion to the downside. The ‘K’ period then got above the VWAP to close at highs & the ‘L’ period followed up breaking above IBH & making a new high of 10929 which also confirmed a FA at 10870 but this move outside the IB also got rejected as NF closed around the dPOC of 10912 giving a Normal Day which got rejected at both the ends of IB so the stage is set up for a move away from here in the coming session(s).
- The NF Open was a Open Auction
- The day type was a Normal Day
- Largest volume was traded at 10912 F
- Vwap of the session was at 10898 with volumes of 69.6 L in a session which traded a High-Low range of 10929-10870 for a range of 59 points
- NF has left a FA at 10870 on 01/03 & and the 1 ATR move up comes to 10984
- NF confirmed a multi-day FA at 10850 of 28/02 & and the 1 ATR move up comes to 10964
- NF had left a FA at 10580 on 26/12 & completed the 2 ATR move up to 10862. This FA has not been tagged and is now strong support
- The Trend Day VWAP & POC of 06/02 11046 & 11035 was broken on 08/02 and the closed below them so now they are no longer support levels
- The Trend Day VWAP & POC of 31/01 is at 10793 & 10775
- The VWAP & POC of Feb Series is 10830 & 10856 respectively.
- The VWAP & POC of Jan Series is 10795 & 10823 respectively.
- The VWAP & POC of Dec Series is 10796 & 10741 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 10890-10912-10915
Hypos / Estimates for the next session:
a) NF needs to sustain above 10922 at open to probe higher to 10945 & 10964
b) Staying below 10912-908, NF can move lower to test 10890 and 10875
c) Above 10965, NF can rise further to 10984 and 11000
d) NF gets weak below 10870 for a move to 10850-845 and 10833
e) On the upside, the auction sustaining above 11010 can rise to 11035-49 & 11067
f) If 10833 is broken & sustained then NF can fall to 10802 and 10786
BankNifty Mar F:
BNF opened with a gap up of 100 points and stayed above PDH confirming an OAOR start and probed higher in IB as it made a high of 27170 leaving singles in the ‘A’ period from 27123 to 27051. (Click here to view the profile chart for better understanding) The auction then kept rotating in the range of the ‘B’ for the next 5 periods after which an attempt was made to get into the morning singles in the ‘H’ period but got rejected as BNF made a low of 27090 indicating that buyers were still defending the tail. BNF then probed higher for the next 4 periods breaking above the IBH in the ‘K’ period and following it up with a spike higher in the ‘L’ period as BNF made a high of 27249 but could not sustain as it closed at 27201 leaving a tail at highs also from 27205 to 27249 giving a 3-1-3 profile on the daily.
- The BNF Open was a Open Auction Out of Range
- The day type was a Normal Variation Day (3-1-3 profile)
- Largest volume was traded at 27148 F
- Vwap of the session was at 27146 with volumes at 18 L in a session which traded a High-Low range of 27249-27051 for a range of 198 points
- BNF confirmed a FA at 27288 on 27/02 and tagged the 1 ATR move down at 27021. The 2 ATR move down comes to 26755.
- BNF confirmed a FA at 27384 on 12/02 and tagged the 2 ATR move down at 26736 on 15/02. This FA is now strong resistance.
- BNF confirmed a FA at 27716 on 23/1 and completed the 2 ATR move down hence is now strong resistance
- The VWAP & POC of Feb Series 27042 & 26978 respectively
- The VWAP & POC of Jan Series 27236 & 27514 respectively
- The VWAP & POC of Dec Series 26713 & 26832 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 27120-27148-27180
Hypos / Estimates for the next session:
a) BNF has immediate support at 27155-130 below which it can fall to 27090-80 & 27015
b) BNF needs to sustain above 27205 for a probe higher to 27250 and 27288-295
c) Below 27015, BNF gets weak for a move down to 26970-952 and 26900
d) Above 27295, the auction can probe higher to 27355 & 27413
e) BNF has important support at 26900 which if broken can bring 26850 & 26800
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