Nifty Dec F: 21472 [ 21532 / 21362 ]
| Open Type |
|---|
| OAIR (Open Auction In Range) |
| Volumes of 6,958 contracts |
| Initial Balance |
|---|
| 107 points (21469 – 21362) |
| Volumes of 23,954 contracts |
| Day Type |
|---|
| Normal Variation – 169 points |
| Volumes of 1,31,234 contracts |
NF made an OAIR start as it stayed below 21414 and went on to make a low of 21362 in the opening minutes taking support right at previous VAL indicating demand coming in and more confirmation came in form of an extension handle at 21417 in the B period as it not only completed the 80% Rule but went on to test the selling tail from 21459 to 21474 while making a high of 21469.
The auction then continued the upside imbalance with a big RE (Range Extension) in the C side as it scaled into the I TPO selling singles from 20th Dec making a high of 21532 but got sellers coming back in this zone as it marked the highs of the day and turned from imbalance to balance.
NF left a PBH at 21523 in the G period which further confirmed supply being active which triggered a quick drop lower to 21440 in the H as it took support at the B TPO VWAP but the bounce back above VWAP could only confirm a lower PBH at 21514 resulting in another probe lower in the L where once again it made a low of 21440 and gave a quick bounce back to 21500 into the close leaving a ‘p’ shape profile for the day with completely higher Value.
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Daily Zones
- Largest volume (POC) was traded at 21488 F and VWAP of the session was at 21473
- Value zones (volume profile) are at 21462-21488-21506
- NF confirmed a FA at 21285 on 22/12 and tagged the 1 ATR objective of 21467 on 26/12. The 2 ATR objective comes to 21650
- 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 27th Dec 2023
| Up |
| 21500 – PBH from 26 Dec 21552 – Ext Handle (20 Dec) 21591 – H TPO VWAP (20 Dec) 21627 – PBH from 20 Dec 21680 – FA from 20 Dec |
| Down |
| 21473 – VWAP from 26 Dec 21439 – PBL from 26 Dec 21389 – Buying Tail (26 Dec) 21339 – HVN from 22 Dec 21285 – FA from 22 Dec |
BankNifty Dec F:Â 47825 [ 47972 / 47450 ]
| Open Type |
|---|
| OAIR (Open Auction In Range) |
| Volumes of 10,715 contracts |
| Initial Balance |
|---|
| 216 points (47666 – 47450) |
| Volumes of 28,839 contracts |
| Day Type |
|---|
| Normal Variation – 522 points |
| Volumes of 1,38,179 contracts |
BNF did not give any follow through to the NeuX close of 22nd Dec and made a low volume OAIR staying inside the M TPO range of that day for the entire A period after which it started the B TPO with a probe below NeuX low of 47470 but could only manage to hit 47450 where it got swiftly rejected triggering a fresh upmove as it not only made new highs for the day at the close of the IB (Initial Balance) but also left a C side extension handle at 47666 and went on to scale above the NeuX VWAP of 47866 while making a high of 47905.
The auction could not extend any further in the D period and gave a typical retracement back to day’s VWAP post a C-side move which was defended in the E TPO where it left a PBL at 47742 after which it made a fresh RE attempt in the G but could only manage to tag 47950 and failed to get fresh demand triggering a quick liquidation drop by the weak buyers resulting in the break of day’s VWAP and a low of 47681 in the H period stopping just below 47666.
The defence of morning extension handle meant that the initiative buyers were back and BNF went on to make new highs of 47972 for the day in the K TPO stalling right at previous week’s VWAP suggesting that supply was still active in this zone causing a rotation down to 47742 where it left a PBL before bouncing back to 47909 into the close leaving a ‘p’ shape kind of a profile with small tails at both ends and 2 important HVNs 300 points apart at 47612 & 47912 and will need to take one of them out on initiative volumes for a further probe in that direction.
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Daily Zones
- Largest volume (POC) was traded at 47612 F and VWAP of the session was at 47765
- Value zones (volume profile) are at 47500-47612-47844
- 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
- Click here to view the weekly MarketProfile charts of BNF
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 27th Dec 2023
| Up |
| 47844 – VAH from 26 Dec 47950 – Selling tail (26 Dec) 48055 – SOC from 22 Dec 48206 – Selling tail (22 Dec) 48337 – Sell tail mid (15 Dec) |
| Down |
| 47765 – VWAP from 26 Dec 47666 – Ext Handle (26 Dec) 47578 – B TPO VWAP (26 Dec) 47450 – PDL 47317 – C TPO VWAP (21 Dec) |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.