Nifty Aug F: 24798 [ 24806 / 24685 ]
| Open Type |
|---|
| OAIR (Open Auction) |
| Volumes of 11,911 contracts |
| Initial Balance |
|---|
| 70 points (24755 – 24685) |
| Volumes of 33,669 contracts |
| Day Type |
|---|
| Normal Variation – 122 pts |
| Volumes of 1,19,193 contracts |
NF made another low volume OAIR start but important took support just above previous day’s A period buying tail indicating no supply coming in and made a probe higher in the B TPO followed by yet another C side extension as it tagged the 02nd VWAP of 24791 while making a high of 24794.
The auction then got into coil mode for most part of the day building on previous Value before seeing a late surge in volumes into the close causing a small spike from 24794 to 24806 which also saw the dPOC shift higher to 24800. We have a nice 2-day balance in NF with the composite value at 24699-24710-24765 so the closing imbalance to the upside is expected to continue towards the VPOCs of 24836 & 25035 as long as it stays above 24765.
Click here to view the latest profile in NF on Vtrender Charts
Daily Zones
- Largest volume (POC) was traded at 24800 F and VWAP of the session was at 24754
- Value zones (volume profile) are at 24735-24800-24804
- 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 22nd Aug 2024
| Up |
| 24794 – Spike zone (21 Aug) 24836 – VPOC (02 Aug) 24887 – Weekly 2 IB 24941 – Weekly ATR 24974 – SOC 25035 – VPOC (01 Aug) |
| Down |
| 24765 – 2-day VAH (20-21 Aug) 24711 – 2-day POC (20-21 Aug) 24682 – Buy Tail (20 Aug) 24641 – A TPO POC (20 Aug) 24596 – VPOC (19 Aug) 24546 – Buy tail (19 Aug) |
BankNifty Aug F: 50807 [ 50890 / 50463 ]
| Open Type |
|---|
| OAIR (Open Auction) |
| Volumes of 15,878 contracts |
| Initial Balance |
|---|
| 330 points (50890 – 50560) |
| Volumes of 52,022 contracts |
| Day Type |
|---|
| Normal – 427 pts |
| Volumes of 2,04,077 contracts |
BNF continued the probe lower from previous session’s second half which saw the profit booking by buyers as it searched for fresh demand and remained below yPOC of 50883 leaving an initiative selling tail and getting accepted in the A period buying tail from yesterday as it made a low of 50560 in the Initial Balance (IB).
The auction then made a RE (Range Extension) in the D TPO tagging the VPOC of 50505 while making a low of 50463 and left a small responsive buying tail signalling return of some buying which triggered a sharp bounce above VWAP as it tested the IB tail but could only manage to tag 50781 as the sellers also wanted to hold on resulting in another swipe down to 50476 in the I period as the buying tail got tested and was held too which paved way for a short covering move into the close back to 50849 as BNF left a well balanced Normal Day forming value in previous tail and looks set to continue higher towards 50937 / 51050 & 51213 in the coming session.
Click here to view the latest profile in BNF on Vtrender Charts
Daily Zones
- Largest volume (POC) was traded at 50611 F and VWAP of the session was at 50667
- Value zones (volume profile) are at 50507-50611-50737
- 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 / 51616** / 51422 (** denotes series POC)
Weekly Zones
- Weekly Charts can be viewed here
- (16-21 Aug) – BNF opened the week with a probe lower but took support just above previous week’s POC of 49954 confirming a FA at 49960 which marked the change of PLR to the upside as it not only completed the 1 ATR objective of 50591 but went on to make a look up above last week’s high while hitting 51081 but could not sustain in this supply zone giving a retracement down to 50463 into the last day of the week forming a nice balanced weekly profile with overlapping to higher Value at 50425-50630-50867 and VWAP at 50617 staying above which can expect a test of the selling tail from 51338 in the coming week
- (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 22nd Aug 2024
| Up |
| 50849 – Sell Tail (21 Aug) 50937 – AVWAP (04 Jul) 51050 – Sell tail (20 Aug) 51213 – 2 ATR (FA 49960) 51338 – Gap singles (02 Aug) 51422 – VPOC (02 Aug) |
| Down |
| 50782 – M TPO low (21 Aug) 50667 – VWAP (21 Aug) 50528 – PBL (21 Aug) 50401 – NeuX VWAP (16 Aug) 50261 – E TPO POC (16 Aug) 50140 – SOC (16 Aug) |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.