Nifty Jul F: 24509 [ 24607 / 24378 ]
| Open Type |
|---|
| OAOR (Open Auction) |
| Volumes of 42,933 contracts |
| Initial Balance |
|---|
| 185 points (24563 – 24378) |
| Volumes of 92,773 contracts |
| Day Type |
|---|
| Normal (p shape) – 229 pts |
| Volumes of 2,35,289 contracts |
NF continued the previous session’s Trend Day imbalance by opening lower and went on to make a look down below 12th Jul’s DD profile as it made a low of 24378 where it saw profit booking by initiative sellers & some demand coming back which resulted in the laggard shorts getting trapped as it trended higher for the first couple of hours getting back into previous day’s range and tested the first extension handle of 24590 while making a high of 24607 in the D period.
However, the sellers held this zone and the rest of the day remained in a narrow range with the G TPO testing the morning singles leaving a PBL at 24470 before settling down around the POC of 24506 leaving a ‘p’ shape profile for the day
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Daily Zones
- Largest volume (POC) was traded at 24506 F and VWAP of the session was at 24506
- Value zones (volume profile) are at 24480-24506-24568
- NF confirmed a FA at 24510 on 18/07 and completed the 2 ATR objective of 24836 on the same day. This FA was revisited on the 19/07 & broken again on 22/07 so is no longer a valid reference.
- HVNs are at 24201 / 24350** (** denotes series POC)
Weekly Zones
- Weekly Charts can be viewed here
- (12 – 18 Jul) – NF opened the week taking support at previous VAH of 24385 and left an extension handle at 24476 indicating that the PLR remained to the upside as it made higher highs on all 4 days of the week even leaving a FA at 24504 on the last day before leaving another extension handle at 24699 and closing in a spike from 24746 to 24837 and saw the weekly POC shift higher from 24621 to 24809 hinting at some profit booking by the longs. This week’s Value was completely higher at 24562-24809-24835 with the VWAP at 24620 which will be an important support for the last week
- (05 – 11 Jul) – NF has formed a narrow range balance & a Neutral Centre weekly profile taking support just above previous week’s prominent POC of 24201 filling up the upper half with the Value at 24256-24353-24385 while the VWAP is at 24348
- (28 Jun – 04 Jul) – NF has formed a Neutral Extreme profile to the upside leaving a FA at lows of 24082 which will be the swing reference for this series and has formed mostly higher Value at 24084-24201-24329 with this week’s VWAP at 24251 which will be the important support level going forward
Monthly Zones
- The settlement day Roll Over point (July 2024) is 24110
- The VWAP & POC of Jun 2024 Series is 23247 & 23535 respectively
- The VWAP & POC of May 2024 Series is 22462 & 22479 respectively
- The VWAP & POC of Apr 2024 Series is 22402 & 22457 respectively
Business Areas for 23rd Jul 2024
| Up |
| 24519 – M TPO high (22 Jul) 24552 – Weekly IBL 24590 – Ext Handle (19 Jul) 24637 – TD VWAP (19 Jul) 24680 – Ext Handle (19 Jul) 24735 – Ext Handle (19 Jul) |
| Down |
| 24506 – POC (22 Jul) 24470 – Buy Tail (22 Jul) 24424 – IB Tail mid (22 Jul) 24378 – PDL 24339 – VWAP (11 Jul) 24267 – POC (10 Jul) |
BankNifty Jul F: 52270 [ 52640 / 52132 ]
| Open Type |
|---|
| ORR (Open Rejection Reverse) |
| Volumes of 23,000 contracts |
| Initial Balance |
|---|
| 462 points (52394 – 51932) |
| Volumes of 50,988 contracts |
| Day Type |
|---|
| Normal (‘p’ shape) – 503 pts |
| Volumes of 1,06,225 contracts |
BNF also opened lower testing the SOC (Scene Of Crime) of 51982 from 11th Jul and found demand coming back triggering a short covering probe back into previous day’s range & value as it completed the 80% Rule with a tyical C side extension to 52435 which marked the end of the upside for the day as it coiled for the remaining part forming a ‘p’ shape profile with completely overlapping Value and a close around the prominent POC of 52300 which will be the opening reference for the next session.
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Daily Zones
- Largest volume (POC) was traded at 52303 F and VWAP of the session was at 52336
- Value zones (volume profile) are at 52191-52303-52393
- HVNs are at 52653** / 53089 (** denotes series POC)
Weekly Zones
- Weekly Charts can be viewed here
- (11 – 16 Jul) – BNF has formed a composite ‘p’ shape normal variation profile for the week with completely inside value at 52320-52548-52668 with the VWAP at 52420 and has a responsive selling tail at top from 52721 to 52847 which will be the zone to take out for more upside in the coming week
- (04 – 10 Jul) – BNF opened the week with new ATH of 53301 but could not sustain forming a Normal Variation profile to the downside breaking below the important support of 52793 and tested previous week’s responsive tail as it made a low of 52205 holding just above the buy side level of 52190 leaving a composite ‘b’ shape kind of a profile with mostly lower Value at 52300-52631-52777 with the VWAP at 52622
- (27 Jun -03 Jul) – BNF has formed a Neutral Centre weekly profile taking support at previous week’s VWAP of 52306 where it left a responsive buying tail and went on to make new ATH of 53249 on the last day before closing right at the POC of 53089. This week’s Value was overlapping to higher at 52630-53089-53194 with the VWAP at 52793 which will be an important support for the coming week
Monthly Zones
- The settlement day Roll Over point (July 2024) is 52830
- The VWAP & POC of Jun 2024 Series is 50519 & 49947 respectively
- The VWAP & POC of May 2024 Series is 48300 & 47726 respectively
- The VWAP & POC of Apr 2024 Series is 47971 & 47994 respectively
Business Areas for 23rd Jul 2024
| Up |
| tp be updated… |
| Down |
| to be updated… |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.