Nifty Aug F: 25048 [ 25145 / 24981 ]
| Open Type |
|---|
| OAIR (Open Auction) |
| Volumes of 8,752 contracts |
| Initial Balance |
|---|
| 68 points (25049 – 24981) |
| Volumes of 34,288 contracts |
| Day Type |
|---|
| Double Distribution – 164 pts |
| Volumes of 2,14,598 contracts |
NF made an OA start testing previous A period buying tail and took support right at PDL as it made a low of 24981 indicating demand holding on and this resulted in big RE to the upside in the E TPO as it left an extension handle at 25049 and went on to make new highs for the series at 25145 in the F.
The auction however stalled in this new ATH zone leaving multiple PBHs at 25140 indicating exhaustion and profit booking by the buyers as the dPOC shifted higher to 25116 and saw a late liquidation break from the K to the M TPOs negating the DD upmove and breaking below VWAP to hit 25031 marking the return of aggressive sellers.
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Daily Zones
- Largest volume (POC) was traded at 25116 F and VWAP of the session was at 25076
- Value zones (volume profile) are at 25044-25116-25140
- HVNs are at 24271 / 24342** / 24930 / 24996 (** denotes series POC)
Weekly Zones
- Weekly Charts can be viewed here
- (16-22 Aug) – NF opened the week around previous VWAP of 24317 & tested previous week’s VAL of 24237 making a low of 24233 and found OTF stepping in as it not only completed the 80% Rule to the upside and left an extension handle at 24489 leaving a NeuX Up profile of 373 points but went on to form a Triple Distribution Weekly profile for the current week recording higher highs on all days testing the weekly selling tail of 24862 to 25032 while making a high of 24873. Value was completely higher at 24550-24836-24869 with this week’s VWAP at 24603 and the other 2 HVNs being at 24710 & 24592 so as long as the auction stays below the above mentioned selling zone can fill up the zones between the HVNs in the coming week
- (09-14 Aug) – The weekly profile is a Neutral Extreme one to the downside with a selling tail at top from 24500 to 24530 and an extension handle at 24240 as it made lows of 24122 building volumes at 24175 into the close leaving overlapping to higher Value at 24237-24403-24528 and this week’s VWAP of 24317 will be an important supply point for the rest of the series.
- (02-08 Aug) – NF opened with a gap down of 200+ points on Friday well below the POC & VWAP of previous week and left an A period selling tail and formed lower value which was followed by another big gap down of 323 points on Monday where it went on to form a Trend Day Down making a low of 29312 and remained in this range for the rest of the week leaving a FA at 24398 on Wednesday and completing the 1 ATR of 24121 on Thursday where it closed with a mini spike leaving a Double Distribution (DD) Trend Down profile for the week with completely lower Value at 24075-24271-24387 and the DD zone from 24398 to 24700 which could see filling up in the coming week if the FA of 24398 gets negated with this week’s VWAP of 24296 being an important supply point in between whereas on the downside, the HVNs of 24088 & 24063 would be the immediate support levels below which the responsive buying tails of 24012 & 23950 could come into play
- (26Jul – 01Aug) – NF has formed a composite ‘p’ shape profile on the weekly timeframe representing weak Market Structure as after starting last Friday with a big Trend Day Up of 487 points it remained in a narrow range for the rest of the days indicating poor trade facilitation at these new ATH levels. Value for the week was completely higher at 24853-24996-25042 and the auction will need to show initiative buying above 25042 in the coming week to continue higher with this week’s VWAP of 24909 being the swing reference on the downside below which it could go in for a test of the Trend Day VWAP of 24748 and the Halfback of 24696 along with extension handles of 24637 & 24576
Monthly Zones
- The settlement day Roll Over point (Aug 2024) is 24460
- The VWAP & POC of Jul 2024 Series is 24470 & 24338 respectively
- The VWAP & POC of Jun 2024 Series is 23247 & 23535 respectively
- The VWAP & POC of May 2024 Series is 22462 & 22479 respectively
Business Areas for 29th Aug 2024
| Up |
| 25076 – VWAP (28 Aug) 25116 – POC (28 Aug) 25160 – 2SD band (AVWAP 23 Aug) 25204 – 1 ATR (PBL 25031) 25249 – 1 ATR (yVWAP 25076) 25289 – 1 ATR (yPOC 25116) |
| Down |
| 25046 – M TPO VWAP (28 Aug) 24999 – Buy Tail (28 Aug) 24950 – A TPO VWAP (26 Aug) 24907 – A TPO POC (26 Aug) 24858 – VPOC (23 Aug) 24825 – PBL (23 Aug) |