Nifty Aug F: 11301 [11386/11280]
NF made a OAIR (Open Auction In Range) start taking support at the yPOC as it made a low of 11307 at open and drove higher in the ‘A’ period to enter the previous day’s selling tail of 11332 to 11398 as it made a high of 11385 in the ‘A’ period. The ‘B’ period saw NF making a marginal higher high of 11386 which indicated exhaustion in the probe up and once it broke below VWAP there was further confirmation of the auction reversing as it has been observed that most of the times the VWAP of a drive is taken out, market goes on to test the other extreme of the day. (Click here to view the profile chart for August NF for better understanding). NF then made an OTF move down till the ‘H’ & ‘I’ periods breaking the morning lows as it made similar lows of 11282 & 11280 replicating the morning exhaustion it showed at top but this time at the bottom after which the auction made a probe above VWAP to leave a pull back high at 11349 in the ‘K’ period before settling down to close around the dPOC leaving an inside day with overlapping Value.
- The NF Open was a late Open Auction In Range (OAIR) plus Drive Up
- The day type was a Normal Variation Day – Down
- Largest volume was traded at 11318 F
- Vwap of the session was at 11325 with volumes of 121.9 L and range of 106 points as it made a High-Low of 11386-11280
- The Trend Day POC & VWAP of 19/07 at 11478 & 11523 are the immediate references on the upside.
- The higher Trend Day VWAP of 05/07 at 11965 is another important reference higher.
- The settlement day Roll Over point is 11315
- The VWAP & POC of Jul Series is 11575 & 11547 respectively.
- The VWAP & POC of Jun Series is 11833 & 11714 respectively.
- The VWAP & POC of May Series is 11613 & 11696 respectively.
You can check the monthly charts & other swing levels for Nifty & NF here & for the weekly charts & analysis, please click here.
Daily Zones:
- Value zones (volume profile) are at 11289-11318-11338
Hypos / Estimates for the next session:
a) NF has immediate supply at 11315-228 above which can rise to 11350-356 & 11380
b) Staying below 11315, the auction can test 11292-285 / 11265 & 11240-230
c) Above 11380, NF can probe higher to 11400-410 & 11444-447
d) Below 11230, auction becomes weak for 11205 & 11181
e) If 11447 is taken out, the auction can rise to 11478 & 11505
f) Break of 11181 can trigger a move lower to 11165-150 & 11138-120
BankNifty Aug F: 29201 [29313/29021]
Report to be updated…
- The BNF Open was a late Open Auction In Range (OAIR) plus Drive Up
- The day type was a Normal Day
- Largest volume was traded at 29250 F
- Vwap of the session was at 29189 with volumes of 18.7 L in a session which traded in a range of 291 points making a High-Low of 29313-29021
- BNF had confirmed a FA at 29512 on 23/07 and tagged the 1 ATR move down of 29122 on 24/07. The 2 ATR move lower is at 28732
- The Trend Day VWAP of 19/07 at 30085 is the immediate reference on the upside.
- The higher Trend Day VWAP of 18/07 & 08/07 at 30598 & 30995 remain important references going forward
- The settlement day Roll Over point is 29250
- The VWAP & POC of Jul Series is 30425 & 30586 respectively.
- The VWAP & POC of Jun Series is 30914 & 30961 respectively.
- The VWAP & POC of May Series 30211 & 28940 respectively
For the Monthly charts & other swing levels for BankNifty & BNF click here & for the weekly charts & analysis, please click here.
Daily Zones:
- Value zones (volume profile) are at 29145-29250-29279
Hypos / Estimates for the next session:
a) Staying above 29200, BNF can test higher levels of 29250-280 & 29340-356
b) Sustaining below 29200, the auction can test 29145-125 & 29085-45
c) Above 29356, BNF can probe higher to 29435-468 & 29512
d) Below 29045, lower levels of 28995-975 & 28928 could come into play
e) Sustaining above 29512, BNF can give a fresh move up to 29592 & 29650
f) Break of 28928 could trigger a move down 28860-853 / 28795 & 28750-732
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