Nifty Feb F: 22141 [ 22230 / 22088 ]
| Open Type |
|---|
| OA (Open Auction) |
| Volumes of 8,011 contracts |
| Initial Balance |
|---|
| 95 points (22230 – 22135) |
| Volumes of 27,882 contracts |
| Day Type |
|---|
| Normal Variation – 143 pts |
| Volumes of 1,19,614 contracts |
NF opened lower and stalled right at 22223 which was previous day’s buying tail as it settled down into an OA (Open Auction) remaining in a narrow 52 point range in the A period after which it made an attempt to probe higher in the B as it tagged 22230 but got swiftly rejected just below Friday’s IBL indicating that the FA (Failed Auction) of 22325 weas still in play.
The auction then went on to make an OTF (One Time Frame) probe lower till the G TPO completing the 1 ATR objective of 22088 to the dot which also marked the end of the downside as some demand came back at 22nd Feb’s NeuX VWAP of 22100 as could be seen in the small responsive buying tail triggering a move back above VWAP in the H period but could only manage to leave a PBH at 22206 in the K stopping just below PDL which meant that the PLR was still to the downside.
NF then made a probe back to 22122 holding just above the HVN of 22120 before closing at 22141 leaving a nice balanced profile for the day with completely lower value and mini tails at both ends so one of them would need to be negated for a fresh imbalance towards either the lower VPOC of 21994 or the higher one at 22268 in the coming session(s).
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Daily Zones
- Largest volume (POC) was traded at 22152 F and VWAP of the session was at 22154
- Value zones (volume profile) are at 22128-22152-22190
- NF confirmed a FA at 22325 on 23/02 and completed the 1 ATR target of 22088 on 26/02. The 2 ATR objective comes to 21851
- 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 27th Feb 2024
| Up |
| 22154 – VWAP (26 Feb) 22207 – PBH (26 Feb) 22241 – VAL (23 Feb) 22280 – PBH from 23 Feb 22325 – FA (Failed Auction) |
| Down |
| 22120 – HVN (26-Feb) 22088 – 1 ATR (FA 22325) 22039 – SOC (22 Feb) 21994 – VPOC (22 Feb) 21943 – Swing Low (22 Feb) |
BankNifty Feb F: 46607 [ 46934 / 46526]
| Open Type |
|---|
| OA (Open Auction) |
| Volumes of 13,328 contracts |
| Initial Balance |
|---|
| 338 points (46934 – 46596) |
| Volumes of 46,658 contracts |
| Day Type |
|---|
| Normal – 409 points |
| Volumes of 1,64,799 contracts |
BNF opened lower but saw some profit booking by the sellers causing a quick bounce higher taking it back into the 4-day composite Value as it made a high of 46922 in the A period and even made marginal new highs of 46934 at the start of B but was swiftly rejected as supply came back strongly and were successful in making new lows for the day at 46596 thus completing the 1 ATR objective of 46616 from the FA of 47399.
The auction then began to coil till the E TPO before making new lows in the F which was followed by a RE in the G period to 46526 but did not get fresh supply to test the lower reference of 46493 triggering a short covering probe till the I TPO where it left a PBH at 46895 and reversed back lower to test the buying tail from 46567 into the close.
BNF has also left a nice Gaussian Curve on the daily with completely lower Value and a close below 46616 so as long as it remains below it and today’s value can go in for a test of 15th Feb’s VPOC of 46326 along with the 2 ATR target of 45833 from the FA of 47399 in the coming session(s).
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Daily Zones
- Largest volume (POC) was traded at 46655 F and VWAP of the session was at 46723
- Value zones (volume profile) are at 46575-46655-46792
- BNF confirmed a FA at 47399 on 23/02 and the completed 1 ATR target of 46616 to the downside on 26/02. The 2 ATR objective comes to 45833
- 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 27th Feb 2024
| Up |
| 46616 – 1 ATR (FA 47399) 46723 – VWAP (26 Feb) 46895 – PBH (26 Feb) 47002 – 4-day POC (20-23 Feb) 47159 – H TPO VWAP (23 Feb) |
| Down |
| 46593 – Closing HVN (26 Feb) 46493 – B TPO VWAP (19 Feb) 46374 – M TPO halfback (20 Feb) 46220 – K TPO VWAP (20 Feb) 46058 – VWAP (15 Feb) |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.