Nifty Jan F: 21477 [ 21505 / 21141 ]
| Open Type |
|---|
| ORR (Open Rejection Reverse) |
| Volumes of 18,849 contracts |
| Initial Balance |
|---|
| 297 points (21438 – 21141) |
| Volumes of 53,246 contracts |
| Day Type |
|---|
| Normal– 364 points |
| Volumes of 2,13,430 contracts |
NF continued previous session’s Trend Day imbalance hitting new lows of the series at 21141 in the opening minutes but was swiftly rejected as it saw demand coming in which also forced some short covering as it went on to probe higher for the rest of the Initial Balance (IB) forming a big 297 point range with a long initiative buying tail from 21290 but made the dreaded C side extension to 21444 marking the end of the upmove.
The auction then gave the customary trip back to day’s VWAP even breaking below it in the E TPO as it went on to enter the A period singles and made lower low of 21220 in the G where it took support right at Dec series VWAP as the buyers came back and then pushed it back higher into the close even making fresh REs (Range Extension) in the closing TPOs of K, L & M scaling above the Trend Day VWAP of 21458 while making a high of 21505.
NF signalled a return to balance forming a ‘p’ shape profile with completely inside Value and has closed in a spike hence spike rules will be in play for the next open with the zone to watch being 21438 to 21505 with today’s VWAP of 21355 being an important support for the last day of this series.
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Daily Zones
- Largest volume (POC) was traded at 21320 F and VWAP of the session was at 21355
- Value zones (volume profile) are at 21257-21320-21437
- NF confirmed a FA at 22138 on 16/01 and completed the 2 ATR target of 21770 on 17/01
- HVNs are at 21697** / 21755 / 21890 (** denotes series POC)
Weekly Zones
- Weekly Charts can be viewed here
- (12-18 Jan) – NF began with an initiative move away from previous week’s Value to the upside even scaling above the Jan RO (Roll Over) point of 21930 as it went on to make a high of 21995 on 12th and followed it up with new ATH of 22150 on 15th Jan but struggled to make a meaningful extension on the upside indicating exhaustion coming in and more confirmation of this came on the 16th where it left a FA at 22138 and formed a Neutral Centre profile from where the auction gave a trending move lower to 21316 over the last 2 days but left a buying tail till 21388 forcing profit booking as the weekly POC shifted down to 21469 leaving an elongated 833 point Neutral Extreme profile giving both new highs & lows for the series with overlapping to lower Value at 21320-31469-21694 with the NeuX VWAP at 21768 which will be the swing reference for the rest of the series
- (05-11 Jan) – NF has formed a Normal Variation profile to the downside which made a look down below previous lows but left an initaitive buying tail on the daily timeframe from 21528 to 21501 forming a nice balance over the 5 days with Value being completely inside at 21635-21703-21797 and this week’s VWAP also around the middle at 21690 where it closed and will need initiative volumes at one end in the coming week for a fresh imbalance to begin
- (29 Dec-04 Jan) – NF has formed a Neutral Centre weekly profile as it made a look up above previous highs but got rejected after making new ATH of 22025 and went on to make a low of 21579 taking support right above last week’s lower TPO HVN of 21570 filling up the low volumes zones and forming mostly overlapping Value at 21640-21748-21875 with a point to note that the sellers who had come in forming a base at 21890 had mostly booked profits at lower levels where it saw some short covering and fresh demand coming back.
Monthly Zones
- The settlement day Roll Over point (January 2024) is 21930
- The VWAP & POC of Dec 2023 Series is 21226 & 21377 respectively
- The VWAP & POC of Nov 2023 Series is 19562 & 19806 respectively
- The VWAP & POC of Oct 2023 Series is 19468 & 19537 respectively
Business Areas for 25th Jan 2024
| Up |
| 21505 – Spike high (24 Jan) 21557 – VPOC from 23 Jan 21631 – C TPO POC (23 Jan) 21670 – Ext Handle (23 Jan) 21735 – Ext Handle (23 Jan) |
| Down |
| 21444 – Spike low (24 Jan) 21402 – HVN from 24 Jan 21355 – VWAP from 24 Jan 21320 – dPOC from 24 Jan 21220 – Buying Tail (24 Jan) |
Spot Hypos for Monthly Expiry
| Up |
| 21483 – Spike high (24 Jan) 21519 – Ext Handle (23 Jan) 21552 – VPOC from 23 Jan 21611 – 2-day POC (19-20 Jan) 21686 – Ext Handle (23 Jan) |
| Down |
| 21429 – Spike low (24 Jan) 21377 – K TPO halfback 21322 – J TPO halfback 21278 – H TPO halfback 21213 – Buying Tail (24 Jan) |
BankNifty Jan F: 45152 [ 45550 / 44449 ]
| Open Type |
|---|
| ORR (Open Rejection Reverse) |
| Volumes of 28,133 contracts |
| Initial Balance |
|---|
| 930 points (45550 – 44449) |
| Volumes of 85,299 contracts |
| Day Type |
|---|
| Normal (3-1-3) – 1690 points |
| Volumes of 3,05,763 contracts |
BNF also continued the downside imbalance at open tagging the VPOCs of 44679 & 44515 from 29th & 28th Nov respectively while making a low of 44449 and saw swift rejection getting back into previous day’s range giving a trending move higher even leaving an extension handle at 45198 in the B period as it went on to make a C side extension to 45550 but saw supply coming back at the Trend Day VWAP zone of 45537.
The auction then made the almost mandatory probe back to day’s VWAP breaking below it negating the extension handle of 45198 and continue the slide lower in the A period singles as it made a low of 44553 in the G TPO marking the end of the downmove and began to form a narrow range balance building a HVN at 44708 till the J period.
BNF moved away from the mini-balance in the K period with a probe above day’s VWAP as it went on to tag 45233 into the close leaving a 3-1-3 profile & a Normal Day with an overlapping POC at 44909 indicating that the shorts were booking profits and will be an important support to watch on the expiry day along with today’s VWAP of 44988. However, on the upside it will still need to take out today’s SOC (Scene Of Crime) at 45314 along with the selling tail from 45430 and show demand at the Trend Day VWAP of 45537 for a play towards 45807 & 45961 in the coming session.
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Daily Zones
- Largest volume (POC) was traded at 44909 F and VWAP of the session was at 44988
- Value zones (volume profile) are at 44584-44909-45159
- BNF confirmed a FA at 48440 on 16/01 and the completed the 2 ATR objective of 47386 on 17/01
- HVNs are at 47956 / 48005** / 48157 / 48555 (** denotes series POC)
Weekly Zones
- (11-17 Jan) – BNF made a slow and trending move higher for the first 4 days of the week getting above previous week’s VWAP of 47970 but marked the end of the upside with a daily FA at 48440 on 16th leaving a nice 2-day balance from where it made a big move away on the last day making it a hat-trick of Neutral Extreme weekly profiles to the downside re-confirming the lack of demand at the upper levels forming the biggest weekly range of the current series of 2389 points with mostly overlapping Value at 47110-48233-48432 with the NeuX VWAP at 47458
- (04-10 Jan) – BNF has once again formed a Neutral Extreme Down weekly profile which first filled up the low volume zone of previous week and then went on repair the poor lows with a sharp move lower testing the swing lows of 47303 (21-28 Dec) while tagging 47201 before giving a bounce back to 47666 into the close. Value for the week was completely overlapping at 47670-48076-48601 with the main supply reference being at the NeuX VWAP of 47970
- (29 Dec-03 Jan) – BNF has formed a Neutral Extreme which also reresents a Double Distribution Trend Down profile which got stalled right below previous week’s POC of 48879 on the upside and went on to fill the low volume zone till 48446 and made an initiative move with a small selling tail from 48346 to 48256 as it went on to make poor lows at 47763 forming a lower balance with the POC also shifting down to 47956. Value for the week was at 47765-47956-48542 with the important DD VWAP being at 48278 which will be the swing reference for the coming settlement.
Monthly Zones
- The settlement day Roll Over point (January 2024) is 48900
- The VWAP & POC of Dec 2023 Series is 47337 & 47918 respectively
- The VWAP & POC of Nov 2023 Series is 43837 & 43619 respectively
- The VWAP & POC of Oct 2023 Series is 43718 & 44346 respectively
Business Areas for 25th Jan 2024
| Up |
| 45233 – Closing PBH (24 Jan) 45392 – HVN from 24 Jan 45537 – Trend Day VWAP (23 Jan) 45630 – Ext Handle (23 Jan) 45767 – Mid-profile tail (23 Jan) |
| Down |
| 45125 – L TPO VWAP (24 Jan) 44988 – VWAP from 24 Jan 44891 – SOC from 24 Jan 44708 – HVN from 24 Jan 44584 – PBL from 24 Jan |
Spot Hypos for Monthly Expiry
| Up |
| 45148 – Closing PBH (24 Jan) 45263 – SOC from 24 Jan 45397 – Selling tail (24 Jan) 45522 – E TPO halfback (23 Jan) 45645 – Ext Handle (23 Jan) |
| Down |
| 45046 – L TPO halfback 44920 – K TPO halfback 44776 – dPOC from 24 Jan 44604 – Buying Tail (24 Jan) 44452 – SOC from 30 Nov |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.