Nifty Aug F: 24711 [ 24765 / 24624 ]
| Open Type |
|---|
| OAIR (Open Auction) |
| Volumes of 14,709 contracts |
| Initial Balance |
|---|
| 135 points (24759 – 24624) |
| Volumes of 56,510 contracts |
| Day Type |
|---|
| Normal (‘p’ shape) – 141 pts |
| Volumes of 1,50,366 contracts |
NF made a sedate start on poor volumes but stayed above previous POC indicating that the PLR (Path of Least Resistance) was to the upside and went on to scale higher in the B period testing the value zone of 02nd Aug while making a high of 24759 but made the dreaded C side extension to 24765 stalling just below the 2 SD objective of 24769 (Swing Low of 14th Aug).
The auction then remained in the B TPO range for rest of the day forming a ‘p’ shape profile & a Normal Day with completely higher Value and a close at the prominent POC of 24711 which will be the reference for the next open for a probe higher to the higher VPOC of 24836 or the lower one at 24596.
Click here to view the latest profile in NF on Vtrender Charts
Daily Zones
- Largest volume (POC) was traded at 24711 F and VWAP of the session was at 24712
- Value zones (volume profile) are at 24704-24711-24748
- HVNs are at 24271 / 24342** / 24930 / 24996 (** denotes series POC)
Weekly Zones
- Weekly Charts can be viewed here
- (09-14 Aug) – The weekly profile is a Neutral Extreme one to the downside with a selling tail at top from 24500 to 24530 and an extension handle at 24240 as it made lows of 24122 building volumes at 24175 into the close leaving overlapping to higher Value at 24237-24403-24528 and this week’s VWAP of 24317 will be an important supply point for the rest of the series.
- (02-08 Aug) – NF opened with a gap down of 200+ points on Friday well below the POC & VWAP of previous week and left an A period selling tail and formed lower value which was followed by another big gap down of 323 points on Monday where it went on to form a Trend Day Down making a low of 29312 and remained in this range for the rest of the week leaving a FA at 24398 on Wednesday and completing the 1 ATR of 24121 on Thursday where it closed with a mini spike leaving a Double Distribution (DD) Trend Down profile for the week with completely lower Value at 24075-24271-24387 and the DD zone from 24398 to 24700 which could see filling up in the coming week if the FA of 24398 gets negated with this week’s VWAP of 24296 being an important supply point in between whereas on the downside, the HVNs of 24088 & 24063 would be the immediate support levels below which the responsive buying tails of 24012 & 23950 could come into play
- (26Jul – 01Aug) – NF has formed a composite ‘p’ shape profile on the weekly timeframe representing weak Market Structure as after starting last Friday with a big Trend Day Up of 487 points it remained in a narrow range for the rest of the days indicating poor trade facilitation at these new ATH levels. Value for the week was completely higher at 24853-24996-25042 and the auction will need to show initiative buying above 25042 in the coming week to continue higher with this week’s VWAP of 24909 being the swing reference on the downside below which it could go in for a test of the Trend Day VWAP of 24748 and the Halfback of 24696 along with extension handles of 24637 & 24576
Monthly Zones
- The settlement day Roll Over point (Aug 2024) is 24460
- The VWAP & POC of Jul 2024 Series is 24470 & 24338 respectively
- The VWAP & POC of Jun 2024 Series is 23247 & 23535 respectively
- The VWAP & POC of May 2024 Series is 22462 & 22479 respectively
Business Areas for 21st Aug 2024
| Up |
| 24711 – POC (20 Aug) 24756 – PBH (20 Aug) 24791 – VWAP (02 Aug) 24836 – VPOC (02 Aug) 24887 – Weekly 2 IB 24941 – Weekly ATR |
| Down |
| 24682 – Buy Tail (20 Aug) 24641 – A TPO POC (20 Aug) 24596 – VPOC (19 Aug) 24546 – Buy tail (19 Aug) 24508 – Ext Handle (16 Aug) 24470 – HVN (16 Aug) |
BankNifty Aug F: 50892 [ 51081 / 50506 ]
| Open Type |
|---|
| OAIR (Open Auction) |
| Volumes of 7,997 contracts |
| Initial Balance |
|---|
| 374 points (50880 – 50506) |
| Volumes of 43,633 contracts |
| Day Type |
|---|
| Normal Variation – 575 pts |
| Volumes of 1,51,374 contracts |
BNF also made a sedate start on very low volumes but like NF stayed above previous POC and the absence of supply empowered the buyers to drive it higher from the B period onwards as they even made multiple REs (Range Extension) till the H TPO getting into the gap zone from 05th Aug and making a high of 51081 completing the 1.5 IB objective/
The auction however saw the POC shifting higher to 50990 signalling profit booking which not only marked the end of the OTF (One Time Frame) but triggered a probe lower into the close to day’s VWAP of 50878 leaving a ‘p’ shape profile with completely higher Value.
Click here to view the latest profile in BNF on Vtrender Charts
Daily Zones
- Largest volume (POC) was traded at 50883 F and VWAP of the session was at 50878
- Value zones (volume profile) are at 50831-50883-51050
- BNF confirmed a FA at 49960 on 16/08 and completed the 1 ATR objective of 50591 on the same day. The 2 ATR target is at 51213
- HVNs are at 49954 / 50258** / 51422 (** denotes series POC)
Weekly Zones
- Weekly Charts can be viewed here
- (08-14 Aug) – BNF has formed a Neutral profile this week with completely inside Value at 49895-49954-50591 after a look up into previous week’s DD singles saw supply coming back as it made a high of 50998 and formed a HVN at 50867 from where it formed a Trend Day Down on Tuesday hitting a low of 50005 & dropped further down to 49865 at open on Wednesday breaking below the VPOC of 49923 and saw profit booking by the sellers as the POC shifted down to 49954 and can come back again on a bounce near this week’s VWAP of 50397
Monthly Zones
- The settlement day Roll Over point (Aug 2024) is 51845
- The VWAP & POC of Jul 2024 Series is 52133 & 52233 respectively
- The VWAP & POC of Jun 2024 Series is 50519 & 49947 respectively
- The VWAP & POC of May 2024 Series is 48300 & 47726 respectively
Business Areas for 21st Aug 2024
| Up |
| 50903 – M TPO high (20 Aug) 51050 – Sell tail (20 Aug) 51213 – 2 ATR (FA 49960) 51338 – Gap singles (02 Aug) 51422 – VPOC (02 Aug) 51509 – VWAP (02 Aug) |
| Down |
| 50883 – POC (20 Aug) 50794 – B TPO VWAP (20 Aug) 50632 – A TPO VWAP (20 Aug) 50505 – VPOC (19 Aug) 50401 – NeuX VWAP (16 Aug) 50261 – E TPO POC (16 Aug) |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.