Nifty Dec F: 21402 [ 21474 / 21285 ]
| Open Type |
|---|
| OA (Open Auction) |
| Volumes of 12,279 contracts |
| Initial Balance |
|---|
| 123 points (21220 – 21060) |
| Volumes of 37,051 contracts |
| Day Type |
|---|
| Neutral – 189 points |
| Volumes of 1,66,585 contracts |
NF opened above PDH but could not sustain and went on to probe lower for the first part of the A period breaking below the yPOC of 21314 as it made a low of 21291 where it saw demand coming back as it went on to make new highs of 21414 in the B TPO confirming an initiative buying tail from 21335 to 21291 which was followed by a C side extension to 20th Dec’s NeuX VWAP of 21439.
The auction then made a fresh RE (Range Extension) in the D period just falling short of the 1.5 IB target of 21476 as it could only manage to hit 21474 which was followed by couple of inside bars in the E & F TPOs as the dPOC also shifted to 21444 indicating profit booking of longs plus supply coming back and they not only made a probe back into the Initial Balance in the important G period but went on to break below day’s VWAP triggering a quick liquidation break which negated the entire A period singles and made a marginal new low of 21285 in the J TPO.
The morning buyers came back strongly at these new lows and even got back above day’s VWAP in the K period as it went on to tag the dPOC of 21444 confirming a FA (Failed Auction) at lows but could not sustain leaving a PBH at 21452 and giving a retracment down to 21376 into the close leaving a Neutral Day and a balanced profile with overlapping to higher Value with a FA being in play if it manages to stay above 21414 in the next open.
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Daily Zones
- Largest volume (POC) was traded at 21443 F and VWAP of the session was at 21390
- Value zones (volume profile) are at 21361-21443-21453
- NF confirmed a FA at 21285 on 22/12 which will be in play if it sustains above 21414 and the 1 ATR objective comes to 21467
- 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
- (15-21 Dec 2023) – NF started the week with a narrow base of 110 points after which it went on to extend in a big way on either sides first hitting new ATH of 21680 where it left a daily FA marking the end of the upmove and then making a huge drop of 620 points down to 21060 testing previous week’s POC of 21088 where it left a buying tail to give a bounce back to 21379 forming a Neutral profile for the week with completely higher Value at 21295-21563-21588
- (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 26th Dec 2023
| Up |
| 21414 – IBH from 22 Dec 21452 – PBH from 22 Dec 21490 – Mid-profile singles (20 Dec) 21552 – Ext Handle (20 Dec) 21591 – H TPO VWAP (20 Dec) |
| Down |
| 21390 – VWAP from 22 Dec 21339 – HVN from 22 Dec 21285 – FA from 22 Dec 21252 – PBL from 21 Dec 21213 – HVN from 21 Dec |
BankNifty Nov F: 47575 [ 48280 / 47470 ]
| Open Type |
|---|
| OAIR (Open Auction In Range) |
| Volumes of 15,191 contracts |
| Initial Balance |
|---|
| 268 points (48090 – 47822) |
| Volumes of 38,872 contracts |
| Day Type |
|---|
| Neutral Extreme – 809 points |
| Volumes of 2,08,317 contracts |
BNF started with an OH (Open=High) right at 48105 which was the first Business Area for the day and probed lower testing previous session’s K TPO zone of singles as it made a low of 47822 taking support well above the extension handle of 47780 indicating that the buyers were defending this zone after which it made an inside bar in the B followed by a marginal C side extension to 48115.
The auction however made a fresh and good RE (Range Extension) in the D period making a look up above 20th Dec’s swing high of 48265 as it hit 48280 but yet again found supply coming back in this zone which had first surfaced on 15th Dec as it not only got back into the IB (Initial Balance) but broke below day’s VWAP in the G TPO triggering a big liquidation break and couple of REs to the downside as it even took out the Trend Day VWAP of 47605 along with the POC at 47558 while making a low of 47533 in the J period.
Having completed the 2 IB objective of 47558 to the downside, BNF then gave a bounce back to day’s VWAP in the K & L TPOs but showed rejection as it left a PBH at 47933 which meant sellers were still in control and they managed to make one more final RE lower in the M period hitting new lows for the day at 47470 leaving an ideal Neutral Extreme Day Down which filled up the low volume zones of the last 2 sessions.
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Daily Zones
- Largest volume (POC) was traded at 48019 F and VWAP of the session was at 47866
- Value zones (volume profile) are at 47638-48019-48110
- 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 and came into play yet again on 21/12 when the probe lower stalled right at this point re-validating it’s importance
- HVNs are at 45127 / 47012 / 47145 / 48022** (** 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 26th Dec 2023
| Up |
| 47592 – HVN from 22 Dec 47719 – L TPO VWAP (22 Dec) 47866 – NeuX VWAP (22 Dec) 48055 – SOC from 22 Dec 48206 – Selling tail (22 Dec) |
| Down |
| 47533 – Tail from 22 Dec 47436 – PBL from 21 Dec 47254 – C TPO POC (21 Dec) 47075 – Buy Tail (21 Dec) 46961 – FA from 06 Dec |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.