Nifty May F:
NF opened higher but got rejected around the PDH after which it probed lower in the ‘A’ period tagging the yVAL of 11895 and left a selling tail at top in the IB which meant that the upside was limited. (Click here to view the profile chart for better understanding) The auction then made a typical ‘C’ side extension which got rejected raising the chances of a probable FA at lows but the bounce in ‘D’ period could not sustain above the yPOC of 11933 as it left a pull back high of 11940. NF then probed lower making a fresh range extension in the ‘G’ period & following it up in the ‘H’ period as it took support just above the previous day singles of 11871-11833 and went on to make a high of 11922 but could not sustain it which lead to the next 3 periods making lower lows as NF got into that buying tail making a low of 11856 in the ‘K’ period but was swiftly rejected leaving a small tail at lows from 11874 to 11856 which meant that there was still demand coming in at lower levels. This rejection lead to a big short covering move as NF trended higher in the ‘L’ period making a range extension to the upside confirming a Neutral Day but could not close at the extreme as the 2-day POC of 11934 was acting as a magnet. NF has made a nice 2-day bell curve with Value at 11892-11934-11940 and has a very good chance to give a move away from this balance for this month’s expiry.
- The NF Open was a Open Auction In Range (OAIR)
- The day type was a Neutral Day (‘Gaussian’ profile)
- Largest volume was traded at 11905 F
- Vwap of the session was at 11909 with volumes at 120.3 L in a session of 109 points trading in a High-Low range of 11965-11856
- The settlement day Roll Over point is 11722
- The VWAP & POC of Apr Series is 11641 & 11592 respectively.
- The VWAP & POC of Mar Series is 11327 & 11448 respectively.
- The VWAP & POC of Feb Series is 10830 & 10856 respectively.
You can check the monthly charts & other swing levels for Nifty & NF here & for the weekly charts & analysis, please click here.
Daily Zones:
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- Value zones (volume profile) are at 11895-11933-11955
Hypos / Estimates for the next session:
a) NF has immediate resistance at 11960 above which it can tag 11999 & 12015-23
b) Staying below 11925, the auction can test 11905-890 & 11879-874
c) Above 12023, NF can probe higher to 12055-60 & 12087
d) Below 11874, NF can fall to 11856 & 11833-830
e) If 12087 is taken out, higher levels of 12100 & 12130 open up
f) Break of 11830 can trigger a move lower to 11790 & 11770-766
BankNifty May F:
BNF opened higher above PDH but was rejected as it stayed below 31580 confirming an ORR start but with low volumes which indicated that it could be a relatively subdued day. (Click here to view the profile chart for better understanding) The auction continued to probe lower lower till the ‘K’ period as it filled up the low volume zone of 31380 to 31515 and an attempt to break below 31380 was met with rejection as BNF left a buying tail from 31385 to 31319 which triggered a big short covering move in the last 45 minutes as BNF rose by 300 points and went on to make new highs for the day at 31699 leaving a Neutral Day. BNF has now made a nice 2-day Gaussian profile & is looking good to move away from here.
- The BNF Open was a Open Rejection Reverse (Down)
- The day type was a Neutral Day (‘Gaussian’ profile)
- Largest volume was traded at 31500 F
- Vwap of the session was at 31497 with volumes at 33.8 L in a session which traded a High-Low range of 31699-31319 for a range of 380 points
- The settlement day Roll Over point is 29760
- The Trend Day (24.05) VWAP of 30944 is now strong support.
- The VWAP & POC of Apr Series is 30037 & 29762 respectively.
- The VWAP & POC of Mar Series is 29061 & 29778 respectively.
- The VWAP & POC of Feb Series 27042 & 26978 respectively
For the Monthly charts & other swing levels for BankNifty & BNF click here & for the weekly charts & analysis, please click here.
Daily Zones:
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- Value zones (volume profile) are at 31412-31580-31630
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Hypos / Estimates for the next session:
a) Sustaining above 31630, BNF can tag 31670 & 31735
b) Immediate support is at 31624 below which the auction can test 31580-565 & 31518
c) Above 31735, BNF can probe higher to 31783 & 31850-893
d) Below 31518, BNF can move lower to 31475-450 & 31385
e) If BNF sustains above 31895, higher levels of 31985-32015 & 32082 could open up
f) Break of 31385 could trigger a move down to 31315-295 & 31210-175
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