Nifty Feb F: 22070 [ 22272 / 22022 ]
| Open Type |
|---|
| OA (Open Auction) |
| Volumes of 8,725 contracts |
| Initial Balance |
|---|
| 52 points (22272 – 22220) |
| Volumes of 21,014 contracts |
| Day Type |
|---|
| Double Distribution – 249 pts |
| Volumes of 1,33,217 contracts |
NF made a higher open but settled down into an Open Auction as the probe above 19th Feb’s Swing high of 22260 could only manage marginal new highs of 22265 & 22272 in the A & B periods respectively clearly indicating lack of demand in this zone also confirmed by the narrow 52 point range in the Initial Balance (IB).
The auction then probed lower in search of buyers making a C side extension to 22198 and followed it with another RE to 22184 in the D TPO but this entry into previous Value was met by some demand as it left a small responsive buying tail and got back above day’s VWAP making higher highs till the H period stopping just short of the IBH of 22272.
The lack of demand at higher levels brought back the sellers into play who came back more aggressively leaving couple of extension handles at 22184 & 22142 swiping through previous value and then going on to negate the triumvirate of the B period buying tails over last 3 sessions as it made a low of 22022 and the bounce back stalled right at yPOC of 22118 before it made another probe lower in the M TPO back to 22030 leaving a Double Distribution Trend Day Down.
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Daily Zones
- Largest volume (POC) was traded at 22238 F and VWAP of the session was at 22159
- Value zones (volume profile) are at 22190-22238-22271
- HVNs are at 21813 (** denotes series POC)
Weekly Zones
- Weekly Charts can be viewed here
- (29 Jan-01 Feb) – NF opened higher this week and remained above previous week’s VWAP of 21540 throughout even making a look up above the highs of 21916 but left a daily FA at 21920 forming overlapping value on all 4 days leaving a Neutral profile and a nice Gaussian Curve with completely higher Value at 21726-21813-21869 with a very prominent POC which will act as a magnet unless we get an initiative move away from here in the coming week
- (19-25 Jan) – NF has formed a Neutral Extreme weekly profile in a relatively large range of 21916 to 21287 with mostly lower Value at 21349-21416-21583 and also represents a Double Distribution shape with the upper HVN at 21804 and a small zone of singles in the middle of the profile from 21640 to 21670 seperating the lower distribution where it has also left a small buying tail at a prior weekly VPOC of 21296 (08-14 Dec) which will be the support zone for the coming week whereas on the upside, this week’s VWAP of 21540 will need to taken out and sustained for a move towards 21804 and the mini tail from 21908
Monthly Zones
- The settlement day Roll Over point (February 2024) is 21419
- The VWAP & POC of Jan 2024 Series is 21581 & 21635 respectively
- The VWAP & POC of Dec 2023 Series is 21226 & 21377 respectively
- The VWAP & POC of Nov 2023 Series is 19562 & 19806 respectively
Business Areas for 22nd Feb 2024
| Up |
| 22090 – HVN from 21 Feb 22142 – Ext Handle (21 Feb) 22184 – Ext Handle (21 Feb) 22238 – dPOC from 21 Feb 22286 – Swing High (15 Jan) |
| Down |
| 22068 – LVN from 21 Feb 22020 – Closing HVN (15 Feb) 21985 – L TPO POC 21944 – VWAP from 15 Feb 21888 – PBL from 15 Feb |
BankNifty Feb F: 47024 [ 47400 / 46900]
| Open Type |
|---|
| OA (Open Auction) |
| Volumes of 18,265 contracts |
| Initial Balance |
|---|
| 288 points (46933 – 46464) |
| Volumes of 51,861 contracts |
| Day Type |
|---|
| Normal Variation – 499 points |
| Volumes of 2,23,046 contracts |
BNF also made a higher open but started with an OH (Open=High) at 47400 as it made a probe back into previous day’s range testing the spike zone from 47225 to 47161 while making a low of 47120 in the A period which was followed by a bounce back above day’s VWAP in the B as it went on to tag 47392 but failed to take out the open triggering a big liquidation drop resulting in a C side probe to 46970 and marginal new lows of 46964 in the D as buyers came back to defend previous VWAP of 46951.
The auction then reversed the probe to the upside getting back above VWAP in the E period and making higher highs of 47263 & 47330 in the G & H TPOs respectively but similar highs of 47325 in the I gave an indication that demand once again was drying up in this zone and this triggered a drop lower into the close even resulting a small spike from 46964 to 46900 taking support just above previous session’s RB POC of 46890.
BNF has formed overlapping to higher value giving a nice 2-day ‘p’ shape profile with Value at 46921-47054-47224 and could spend some more time filling up this composite before making a fresh move away from here in the coming session(s). Click here to view the composite only on Vtrender Charts
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Daily Zones
- Largest volume (POC) was traded at 47066 F and VWAP of the session was at 47144
- Value zones (volume profile) are at 46992-47066-47240
- HVNs are at 45603 / 45998 / 46331** (** denotes series POC)
Weekly Zones
- Weekly Charts can be viewed here
- (01-07 Feb) – BNF has formed a Neutral Centre weekly profile as it first took support right at previous week’s VWAP of 45883 leaving a FA on 01st Feb and went on to make a trending move higher taking out the weekly selling tail of 19th-25th Jan profile and even tagged the prior week’s extension handle of 47115 but could only manage to tag 47145 as sellers came back strongly and went on to not only retrace the entire upmove but made new lows for the week at 45740 taking support just above previous week’s POC of 45717 and gave a bounce back to 46296 on the last day. Value for the week was mostly higher Value at 45897-46114-46410 with a prominent TPO HVN 45999 which will be the support for the coming week
- (29-31 Jan) – BNF took support multiple times at previous week’s VWAP of 45492 forming a Neutral Extreme weekly profile to the upside giving a move away from the prominent POC of 45717 on the last day where it went on to hit new highs of 46444 forming overlapping to higher Value at 46429-45717-45994 but this week’s NeuX VWAP of 45883 will be the important reference going forward if it has to continue higher towards the selling tail from 46720 & extension handle of 47115 in the coming week
- (19-25 Jan) – BNF has also formed a Neutral Extreme weekly profile in a range of 46892 to 44851 with completely lower Value at 44903-44997-45626 but has seen the POC shift to the lows hinting at profit booking by sellers so can give a bounce with this week’s VWAP of 45492 being an important reference for the buyers to take out in case of the upmove to continue in the new series
Monthly Zones
- The settlement day Roll Over point (February 2024) is 44999
- The VWAP & POC of Jan 2024 Series is 46353 & 48119 respectively
- The VWAP & POC of Dec 2023 Series is 47337 & 47918 respectively
- The VWAP & POC of Nov 2023 Series is 43837 & 43619 respectively
Business Areas for 22nd Feb 2024
| Up |
| 47066 – dPOC (21 Feb) 47170 – L TPO high (21 Feb) 47250 – LVN from 21 Feb 47354 – B TPO POC (21 Feb) 47492 – Weekly HVN 47655 – VPOC from 17 Jan |
| Down |
| 46990 – Closing HVN 46890 – J TPO POC (20 Feb) 46755 – Ext Handle (20 Feb) 46622 – Buy Tail (20 Feb) 46493 – B TPO VWAP (19 Feb) 46374 – M TPO halfback (20 Feb) |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.