Nifty May F:
NF opened lower rejecting the spike close of previous day but was still a low conviction open as it remained in the 2 day Gaussian profile making a low of 11893 in the IB leaving a narrow 26 point range. (Click here to view the profile chart for better understanding) The auction made a ‘C’ side extension which was immediately rejected and this triggered a probe higher as NF got above the IBH making a new high of 11935 in the ‘E’ period but was unable to close the gap which was a sign that either supply is coming there or stuck buyers of previous day are getting out either which way the upside was limited. NF then trended lower into the close making an OTF (One Time Frame) move lower till the ‘L’ period giving a small pull back high to VWAP in the ‘K’ period which was rejected and tested this week’s singles of 11856-11833 and in the process confirmed a FA at 11935. The Value for the day was overlapping and we now have a 3-day Gaussian profile in NF with Value at 11883-11910-11937 and can expect a move away from there in the coming session(s)
- The NF Open was a Open Auction In Range (OAIR)
- The day type was a Neutral Day
- Largest volume was traded at 11900 F
- Vwap of the session was at 11889 with volumes at 112 L in a session of 99 points trading in a High-Low range of 11935-11836
- NF confirmed a FA today at 11935 & the 1 ATR move down comes to 11754
- 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.
NF Composite Chart from 20th May:
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 11876-11900-11927
Hypos / Estimates for the next session:
a) NF has immediate resistance at 11874-883 above which it can tag 11902-910 & 11935-940
b) Staying below 11858-850, the auction can test 11835-830 & 11790
c) Above 11940, NF can probe higher to 11960 & 11999
d) Below 11790, NF can fall to 11770 / 755-745 & 11722-710
e) If 11999 is taken out, higher levels of 12015-23 & 12055-60 open up
f) Break of 11710 can trigger a move lower to 11698-695 & 11660-650
BankNifty May F:
BNF rejected yesterday’s Neutral Extreme reference as it opened lower staying below the important reference of 31580 all day and went on to confirm a multiday FA at 31699. (Click here to view the profile chart for better understanding) The auction did give a failed ‘C’ side extension but the move higher got rejected in the ‘E’ period as it made a high of 31510 after which it trended lower into the close leaving a higher pull back high of 31480 in the ‘I’ period to make lows of 31276 as it tested the weekly singles for the second time in 2 days but this time closed in it. BNF now has an ideal Gaussian profile for this week with a small tail of 31276 to 31175 at the lows with Value at 31351-31480-31533 and depending on which side it gets accepted in the next session, the auction seems ready to give a good move.
- The BNF Open was a Open Auction In Range
- The day type was a Normal Variation Day (Down)
- Largest volume was traded at 31350 F
- Vwap of the session was at 31419 with volumes at 24.2 L in a session which traded a High-Low range of 31578-31276 for a range of 302 points
- BNF confirmed a multi-day FA today at 31699 & the 1 ATR move down comes to 31121
- 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
BNF Composite Chart from 20th May:
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 31338-31350-31474
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Hypos / Estimates for the next session:
a) Sustaining above 31351, BNF can tag 31410-420 & 31480
b) Immediate support is at 31295-280 below which the auction can test 31210-175 & 31121
c) Above 31480 BNF can probe higher to 31535 & 31580
d) Below 31121, BNF can move lower to 31051-40 & 30976-944
e) If BNF sustains above 31580, higher levels of 31670-699 & 31750-783 could open up
f) Break of 30944 could trigger a move down to 30888-825 & 30768-730
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