Nifty Dec F: 21681 [ 21708 / 21507 ]
| Open Type |
|---|
| OA (Open Auction) |
| Volumes of 8,987 contracts |
| Initial Balance |
|---|
| 77 points (21584 – 21507) |
| Volumes of 25,277 contracts |
| Day Type |
|---|
| Normal Variation – 201 points |
| Volumes of 1,41,482 contracts |
NF made an almost OL (Open=Low) start at 21510 indicating that the PLR (Path of Least Resistance) is to the upside as it went on to probe above PBH and also take out the 20th Dec selling extension handle of 21552 while making a high of 21584 in the IB (Initial Balance) and followed it up with a C side probe to 21604 and suprisingly held VWAP inspite of forming inside bars in the D & E TPOs.
The auction then made a fresh RE (Range Extension) in the F period where it made a high of 21620 stalling just below 20th Dec’s VPOC of 21626 as the sellers came back strongly forcing the break of day’s VWAP for the first time in the G TPO triggering a drop down to 21530 as the A period buying tail managed to hold it’s ground indicating that the buyers were keen to defend this zone.
NF then gave a bounce higher in the H period making a look up above VWAP but was rejected from 21590 as it went on to make a lower low of 21526 in the I TPO but once again the initiative buying tail from morning held and gave another bounce above VWAP in the J which was followed by new highs for the day at 21624 in the K suggesting that the supply was being challenged and more confirmation of this came with a big spike in the L period which not only re-visited the FA of 21680 from 20th Dec but made new ATH of 21708 before closing at 21681. Spike rules will be in play for the next open and the zone to watch would be from 21624 to 21708.
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Daily Zones
- Largest volume (POC) was traded at 21581 F and VWAP of the session was at 21594
- Value zones (volume profile) are at 21531-21581-21601
- 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. This FA was revisited on 27/12 which was the ‘T+4’ day and has closed right there
- 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 28th Dec 2023
| Up |
| 21691 – Sell tail (27 Dec) 21731 – Weekly ATR 21768 – 1 ATR (yPOC 21581) 21795 – Monthly 2 IB 21852 – Weekly 3 IB |
| Down |
| 21670 – Closing singles (27 Dec) 21624 – Spike Low (27 Dec) 21581 – dPOC from 27 Dec 21540 – SOC from 27 Dec 21500 – Closing PBH (26 Dec) |
BankNifty Dec F: 48360 [ 48443 / 47856 ]
| Open Type |
|---|
| OA (Open Auction) |
| Volumes of 7,583 contracts |
| Initial Balance |
|---|
| 232 points (48088 – 47856) |
| Volumes of 26,614 contracts |
| Day Type |
|---|
| Normal Variation – 587 points |
| Volumes of 1,44,946 contracts |
BNF opened higher and made it’s intention clear as it left an initiative buying tail at the higher HVN of 47912 after taking support just above previous Value and went on to tag the 22nd Dec SOC (Scene Of Crime) of 48055 while making a high of 48088 in the Initial Balance (IB) after which it made the customary C side extension which it has been doing since the last 4 sessions hitting new highs of 48165.
The auction then consolidated above day’s VWAP and within the C period range in the D & E TPOs before it took off making a fresh RE (Range Extension) in the F almost completing the 2 IB objective for the day while making a high of 48316 and saw a combination of profit booking plus active supply coming from this prior seller zone from 15th Dec triggering sharp drop of more than 300 points over the next 3 periods seeing a test of the morning buying singles while making a low of 47911 in the I as demand came back defending the HVN of 47912.
BNF then made a slow probe back to day’s VWAP in the J after which it found more buyers coming in the K period which forced a short squeeze into the close as it spiked higher to 48443 in the L TPO hitting new ATH before closing the day at 48360 giving the impression that it wants to move away from a large 9-day balance it had been forming with Value at 47752-48014-48240 and spike rules will be in play for the next open with the zone to watch being from 48316 to 48443.
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Daily Zones
- Largest volume (POC) was traded at 48114 F and VWAP of the session was at 48134
- Value zones (volume profile) are at 47876-48114-48214
- 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
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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 28th Dec 2023
| Up |
| 48381 – Sell tail (27 Dec) 48499 – 1 ATR (HVN 47912) 48601 – 1 ATR (9-day POC 48014) 48720 – 1 ATR (yVWAP 48133) 48860 – Monthly 1.5 IB |
| Down |
| 48316 – Spike low (27 Dec) 48133 – VWAP from 27 Dec 48014 – 9-day POC (14-27 Dec) 47911 – Buying Tail (27-Dec) 47790 – Closing HVN (26 Dec) |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.