Nifty Dec F: 21217 [ 21680 / 21164 ]
| Open Type |
|---|
| OAOR (Open Auction Out of Range) |
| Volumes of 13,880 contracts |
| Initial Balance |
|---|
| 74 points (21669 – 21595) |
| Volumes of 26,742 contracts |
| Day Type |
|---|
| Neutral Extreme – 516 points |
| Volumes of 2,17,416 contracts |
NF opened higher with an OL (Open=Low) start right at PDH of 21595 and went on to make a high of 21668 in the A period completing the 1 ATR objective of 21660 from yVWAP of 21513 after which it formed an inside bar in the B TPO leaving a small buying tail from 21624 to 21595 with the Initial Balance (IB) volumes being on the lower side clocking just 26742 contracts compared to the average of 32986 suggesting absence of OTF (Other Time Frame) players.
The auction gave more confirmation of only locals being present as it made marginal new highs in the C & D TPOs where it hit 21670 & 21680 respectively but could not sustain and not only got back into the IB but broke below day’s VWAP in the E period forcing all the weak longs to liquidate resulting in couple of REs to the downside in the F & G as it tagged the yPOC of 21583 which confirmed a FA (Failed Auction) at day’s high.
NF then gave a bounce back to day’s VWAP & POC in the H period but got rejected leaving a PBH at 21627 which brought in fresh initiative supply as it left couple of extension handles at 21576 and then 21552 and went on to make a trending move lower not only completing the 2 ATR target of 21385 from the FA but gave couple of more handles at 21342 & 21287 as it went on to make a low of 21164 into the close leaving a perfect Neutral Extreme Day Down testing the gap up zone from 14th Dec.
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Daily Zones
- Largest volume (POC) was traded at 21626 F and VWAP of the session was at 21439
- Value zones (volume profile) are at 21388-21626-21678
- NF confirmed a FA at 21680 on 20/12 and tagged the 2 ATR objective of 21385 on the same day
- 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 21st Dec 2023
| Up |
| 21240 – L TPO POC (20 Dec) 21287 – Ext Handle (20 Dec) 21342 – Ext Handle (20 Dec) 21399 – J TPO VWAP (20 Dec) 21439 – NeuX VWAP (20 Dec) |
| Down |
| 21215 – Closing tail (20 Dec) 21177 – IBL from 14th Dec 21131 – Singles mid (14 Dec) 21088 – Weekly POC 21034 – VPOC from 13 Dec |
BankNifty Nov F: 47480 [ 48265 / 47316 ]
| Open Type |
|---|
| OA (Open Auction) |
| Volumes of 13,839 contracts |
| Initial Balance |
|---|
| 184 points (48265 – 48081) |
| Volumes of 31,500 contracts |
| Day Type |
|---|
| Trend Down –948 points |
| Volumes of 2,08,871 contracts |
BNF opened higher and made an attempt to move away from the 4-day composite Value as it scaled above 48180 and went on to tag 15th Dec’s VPOC of 48234 while making a high of 48265 in the A period but failed to get fresh demand forcing a move back into the balance as it made new lows of 48081 in the B TPO leaving an important selling tail at the close of the Initial Balance (IB).
The auction then made a typical C side extension to 48068 which gave a bounce back to day’s VWAP in the D where it left a PBH at 48160 which was followed by new lows of 48050 & 48042 in the E & F TPOs as some demand seem to be coming back around the composite POC of 48023 which gave another push back above the day’s VWAP even making a look up above 48160 but got rejected just below VAH of 48180 leaving a fresh PBH at 48172 in the H period indicating that the 80% Rule was still on.
BNF then not only completed the swipe in the 4-day Value by leaving an extension handle at 48042 in the I TPO but made a high of 47909 in the J which meant that it was now ready to move away from this balance to the downside and it did that with a trending move for the rest of the day as it gave couple of more extension handles at 47814 & 47584 in the J & L periods before closing in a spike lower from 47460 to 47316 tagging 13th Dec’s VPOC of 47393 and stopping just above that day’s VWAP of 47291 leaving the first Trend Day Down of this series.
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Daily Zones
- Largest volume (POC) was traded at 47706 F and VWAP of the session was at 47850
- Value zones (volume profile) are at 47548-47706-48146
- 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
- (14-20 Dec 2023) – BNF formed a Neutral Extreme week to the downside after forming a balance for most part after it made a spike close on the 15th where it hit ATH of 48375 but made a move away from the Value of 47870-48006-48186 to the downside on the 20th with a Trend Day Down which saw it getting back into previous week’s 3-1-3 value & tagging the POC of 47393 and looks set to continue further as long as this week’s VWAP of 47975 is held
- (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 21st Dec 2023
| Up |
| to be updated… |
| Down |
| to be updated… |
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