Nifty Feb F: 22228 [ 22325 / 22207 ]
| Open Type |
|---|
| OA (Open Auction In Range) |
| Volumes of 11,392 contracts |
| Initial Balance |
|---|
| 64 points (22299 – 22235) |
| Volumes of 30,177 contracts |
| Day Type |
|---|
| Neutral Extreme – 118 pts |
| Volumes of 1,20,520 contracts |
NF gave a rare follow up to a NeuX (Neutral Extreme) profile by opening higher and even made a freak tick at 22344 but there were no volumes above 22299 as it settled down into an OAOR (Open Auction Out of Range) forming a narrow 64 point range Initial Balance (IB) with the B period staying completely inside A.
The auction then made the dreaded C side extension to the upside which was immediately rejected and the small range ensured that it went on to make new lows for the day at 22232 taking support just above the L TPO singles from previous session and went on to make a look up above C highs making marginal new highs of 22325 in the D period but once again it failed to attract any fresh demand and got back into the IB.
NF then remained in a narrow range forming a balance for the day but left an important PBH at 22300 in the H TPO which was also the IBH bringing in some supply who went on to make a fresh RE lower to 22223 in the I period and gave another bouce from this zone of singles back to 22280 in the K where once again sellers came back forcing new lows of 22207 into the close leaving a Neutral Extreme Day Down with a FA (Failed Auction) at top but with completely higher value forming a balanced profile which is uncharacteristic of a NeuX profile.
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Daily Zones
- Largest volume (POC) was traded at 22268 F and VWAP of the session was at 22264
- Value zones (volume profile) are at 22241-22268-22290
- NF confirmed a FA at 22325 on 23/02 and the 1 ATR target on downside comes to 22088
- HVNs are at 21813 (** denotes series POC)
Weekly Zones
- Weekly Charts can be viewed here
- (16-22 Feb) – NF remained above previous week’s closing HVN of 22020 on the first 3 days of the week but formed overlapping value in a narrow range inspite of hitting new highs of 22272 on 21st triggering a long liquidation drop down to 22022 on that day and a follow up lower on 22nd with new lows for the week at 21943 which brought buyers and forced the shorts to cover with a NeuX move on the daily back to 22270 leaving yet a narrow 329 point range balanced profile for the week with completely higher Value at 22041-22113-22214 with an ultra prominent POC at 22113 and VWAP also just above it at 22132
- (09-15 Feb) – NF remained below previous week’s Value for most part of the week forming lower lows on the first 4 days as it tagged 21600 on 14th but for the 2nd consecutive day left an A period tail indicating demand coming back triggering a move back into the prior week’s value as it went on to tag the prominent POC of 21996 while making a high of 22028 building a HVN at 22020 but formed mostly lower value for the week at 21646-21808-21887 which was a Neutral Extreme one to the upside so the VWAP of 21809 will now be a swing reference for the rest of the series
- (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 26th Feb 2024
| Up |
| 22235 – IBL from 23 Feb 22280 – PBH from 23 Feb 22325 – FA (Failed Auction) 22379 – 1 ATR (2D VWAP 22156) 22430 – 1 ATR (PDL 22207) |
| Down |
| 22223 – Buy tail (23 Feb) 22180 – Ext Handle (22 Feb) 22113 – Weekly POC 22075 – J TPO low 22039 – SOC (22 Feb) |
BankNifty Feb F: 46842 [ 47399 / 46764]
| Open Type |
|---|
| OA (Open Auction) |
| Volumes of 14,868 contracts |
| Initial Balance |
|---|
| 322 points (47314 – 46992) |
| Volumes of 48,961 contracts |
| Day Type |
|---|
| Normal Variation – 634 points |
| Volumes of 2,03,661 contracts |
BNF opened strong negating previous day’s selling tail from 47020 as it went on to complete the 80% Rule in 21st Feb’s Value and even left an extension handle at VAH of 47240 making higher highs of 47314 in the B period and continued this momentum by extending further to 47399 in the opening minutes of C.
The C side once again showed why it is called the Dhoka (Con) period as it not only got back inside the IB but went on to break below day’s VWAP forcing long liquidation and even new lows for the day at 46936 after which the auction got back into balance mode inside the IB but remained mostly below VWAP indicating that the buyers had lost control with a PBH at 47210 in the H period.
BNF then made a fresh RE lower in the I TPO and followed it with lower lows in the J & K tagging previous VWAP of 46813 from where it gave a quick bounce back to 47065 stalling right below current day’s VWAP which meant that the sellers were dominant and they forced new lows of 46764 into the close leaving a NeuX profile to the downside with a FA at top but on the higher timeframe has formed a nice 4-day composite balance with Value at 46844-47002-47220 so it remains to be seen if we continue building in this zone or get a move away in the coming session(s).
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Daily Zones
- Largest volume (POC) was traded at 47054 F and VWAP of the session was at 47044
- Value zones (volume profile) are at 46895-47054-47250
- BNF confirmed a FA at 47399 on 23/02 and the 1 ATR target on downside comes to 46616
- 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 26th Feb 2024
| Up |
| 46844 – 4-day VAL (20-23 Feb) 47002 – 4-day POC (20-23 Feb) 47159 – H TPO VWAP (23 Feb) 47350 – C TPO POC (23 Feb) 47492 – Weekly HVN |
| Down |
| 46783 – Buy tail (23 Feb) 46616 – 1 ATR (FA 47399) 46493 – B TPO VWAP (19 Feb) 46374 – M TPO halfback (20 Feb) 46220 – K TPO VWAP (20 Feb) |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.