Nifty Feb F: 22203 [ 22229 / 22095 ]
| Open Type |
|---|
| OAIR (Open Auction In Range) |
| Volumes of 7,975 contracts |
| Initial Balance |
|---|
| 60 points (22160 – 22100) |
| Volumes of 20,857 contracts |
| Day Type |
|---|
| Neutral Extreme – 134 pts |
| Volumes of 1,23,409 contracts |
NF made an OAIR start taking support right at previous session’s mini tail at the lows in the IB (Initial Balance) after which it made a typical C side extension to 22095 which was swiftly rejected as it not only got back above day’s VWAP in the D period but went on to extend higher in the E leaving a FA (Failed Auction) at lows.
The auction then made a retracement back into the IB and even probed below VWAP but left a PBL (Pull Back Low) at 22113 which was the C TPO VWAP plus previous week’s prominent POC indicating that the PLR (Path of Least Resistance) for the day was to the upside.
NF then made couple of fresh REs (Range Extension) in the H & I periods hitting new highs for the day at 22222 stalling right below the selling tail from previous session triggeing a quick drop in the J TPO where it left a PBL at 22135 before going for new highs of 22229 in the L but could not take out PDH and made a close around the dPOC of 22190 leaving a Neutral Extreme Day up which is also an inside bar hence a good chance of a move away from here in the coming session. (Click here to view the 2-day composite)
Click here to view the latest profile in NF on Vtrender Charts
Daily Zones
- Largest volume (POC) was traded at 22190 F and VWAP of the session was at 22163
- Value zones (volume profile) are at 22137-22190-22215
- NF confirmed a FA at 22095 on 27/02 and the 1 ATR objective comes to 22310
- 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 28th Feb 2024
| Up |
| 22208 – L TPO POC 22241 – VAL (23 Feb) 22280 – PBH from 23 Feb 22325 – FA (Failed Auction) 22372 – 1 ATR (yVWAP 22163) |
| Down |
| 22190 – dPOC (27 Feb) 22159 – IBH (27 Feb) 22113 – PBL (27 Feb) 22088 – 1 ATR (FA 22325) 22039 – SOC (22 Feb) |
BankNifty Feb F: 46587 [ 46745 / 46310]
| Open Type |
|---|
| OA (Open Auction) |
| Volumes of 14,405 contracts |
| Initial Balance |
|---|
| 302 points (46670 – 46368) |
| Volumes of 35,714 contracts |
| Day Type |
|---|
| Neutral – 435 points |
| Volumes of 1,55,766 contracts |
BNF opened lower and went on to make a low of 46463 taking support right at 20th Feb’s buying tail and got back into previous day’s range and value as it made a high of 46670 in the B period showing clear signs of rejection as it not only left a small selling tail but went on to leave an extension handle at 46463 hitting new lows of 46368 at the close of the IB (Initial Balance) and followed it with the dreaded C side extension to 46310 as it tagged the VPOC of 46327 from 15th Feb.
The auction however showed rejection in this zone leaving a small responsive buying tail and reversed the probe to the upside as it got above day’s VWAP leaving a PBH at 46559 in the E period which was followed by a probe lower as it got defended above the IBL as could be seen in the PBL at 46384 in the G which brought in some more demand resulting in couple of REs to the upside in the H & I TPOs where it tested yVWAP of 46723 while hitting 46745 but could not sustain leaving a small sell side tail at the top.
BNF then made a balanced closed right near the dPOC of 46603 and has a probable FA (Failed Auction) at lows if it manages to stay above today’s IBH of 46670 in the coming session plus also has formed a nice 2-day balance with Value at 46530-46602-46792 and could give a move away from here provided it gets some initiative volumes at the next open.
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Daily Zones
- Largest volume (POC) was traded at 46603 F and VWAP of the session was at 46562
- Value zones (volume profile) are at 46500-46603-46707
- BNF confirmed a probable FA at 46310 on 27/02 but needs to stay above 46670 for a 1 ATR target of 47065
- 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 28th Feb 2024
| Up |
| 46670 – IBH (27 Feb) 46776 – K TPO VWAP (26 Feb) 46895 – PBH (26 Feb) 47054 – VPOC (23 Feb) 47159 – H TPO VWAP (23 Feb) |
| Down |
| 46562 – VWAP (27 Feb) 46444 – G TPO VWAP (27 Feb) 46310 – FA (27 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.