Nifty Oct F: 19709 [ 19794 / 19638 ]
| Open Type |
|---|
| OAIR (Open Auction In Range) |
| Volumes of 15,116 contracts |
| Initial Balance |
|---|
| 62 points (19700 – 19638) |
| Volumes of 33,395 contracts |
| Day Type |
|---|
| DD (Up) – 156 points |
| Volumes of 1,45,026 contracts |
NF made an OAIR start and stayed above the yPOC of 19640 as it made a low of 19638 and probed higher and tagged 19700 in the B period stalling right below the Trend Day VWAP of 19701 leaving a narrow 62 point range Initial Balance with tails at both ends after which the C side made a rare inside bar.
The auction then tested the A period singles in the D TPO getting rejected at 19655 and formed an outside bar closing around the highs indicating demand coming back which was further confirmed in the E period with an extension handle at 19700 and this move above yVWAP triggered a short covering squeeze negating the selling extension handles of 19752 & 19765 while recording a high of 19769 and made marginal new highs of 19771 in the F stopping just below the weekly POC of 19772 indicating a pause on the upside.
A small retracement to 19735 saw some buying coming back in the H period as NF confirmed a PBL there and seemed ready for a spike higher into the close but the J for Joker played out it’s card in form of a fake break out leaving an extension handle at 19771 and making a look up above the Business Area of 19780 as it hit 19794 but could not sustain and suprisingly the all important K TPO remained in a narrow range of just 19 points hinting that buyers were folding up.
The L period then triggered a quick liquidation break by the laggard longs once 19771 got negated as it not only broke below the PBL of 19735 and day’s VWAP of 19725 but went on to make a low of 19685 before getting back to VWAP into the close leaving a Double Distribution type of a profile which was completely inside previous range but formed overlapping to higher Value. Today’s dPOC shifted higher to 19750 which means that the early longs have booked profits so will needs fresh buying above the 2 references of 19725 & 19750 to continue the probe higher whereas on the downside, today’s PBLs of 19685 & 19655 will be the initial support levels with the HVN of 19635 being the all important marker as the new series gets underway.
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Daily Zones
- Largest volume (POC) was traded at 19750 F and VWAP of the session was at 19722
- Value zones (volume profile) are at 19692-19750-19792
- HVNs are at NA (** denotes series POC)
- NF confirmed a FA at 19661 on 27/09 and tagged the 1 ATR objective of 19789 on same day. This FA got re-visited on 28/09 & has closed below and is now a positional supply point
Monthly Zones
- The settlement day Roll Over point (October 2023) is 19635
- The VWAP & POC of Sep 2023 Series is 19736 & 19672 respectively
- The VWAP & POC of Aug 2023 Series is 19440 & 19424 respectively
- The VWAP & POC of Jul 2023 Series is 19600 & 19430 respectively
Business Areas for 03rd Oct 2023
| Up |
| 19722 – VWAP from 29 Sep 19750 – dPOC from 29 Sep 19785 – K TPO POC (29 Sep) 19833 – Selling Tail (28 Sep) 19893 – 2-day VPOC (21-22 Sep) 19943 – 2-day VAH (21-22 Sep) |
| Down |
| 19685 – PBL from 29 Sep 19640 – dPOC from 28 Sep 19601 – VPOC from 01 Sep 19560 – 1.5 Weekly IB 19526 – Ext Handle (01 Sep) 19480 – Buying Tail (01 Sep) |
BankNifty Oct F: 44847 [ 44998 / 44620 ]
| Open Type |
|---|
| OAIR (Open Auction In Range) |
| Volumes of 12,362 contracts |
| Initial Balance |
|---|
| 274 points (44894 – 44620) |
| Volumes of 46,275 contracts |
| Day Type |
|---|
| Normal Variation (NV) – 378 points |
| Volumes of 1,74,073 contracts |
BNF opened with a gap up of 175 points but made an OH (Open=High) start at 44780 and probed lower testing the yPOC of 44680 while making a low of 44620 in the A period where it got good demand coming back as it not only got back above the day’s VWAP but went on to leave an extension handle at 44780 to make new highs of 44894 in the B TPO leaving an A period tail from 44762 to 44620.
The auction then made a typical C side extension to 44922 which gto rejected resulting in a probe below day’s VWAP as it went on to test the A period singles but left a PBL at 44759 indicating buyers defending this zone and made a fresh RE in the E period but ended up leaving similar highs at 44950 in the F signalling a bit of selling presssue.
BNF made another rotation below the day’s VWAP in the I period but left a higher PBL at 44833 after which it made couple of fresh REs in the J & K periods making new highs of 44998 but got stalled right below 27th Sep’s J TPO POC of 45000 where the sellers have been adding triggering a drop down to 44812 into the close leaving a ‘p’ shape profile for the day which was an inside bar in terms of range but has formed completely higher Value.
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Daily Zones
- Largest volume (POC) was traded at 44900 F and VWAP of the session was at 44861
- Value zones (volume profile) are at 44814-44900-44960
- HVNs are at NA (** denotes series POC)
- BNF confirmed a FA at 44491 on 27/09 and tagged the 1 ATR objective of 44928 on the same day. The 2 ATR target comes to 45365
Monthly Zones
- The settlement day Roll Over point (October 2023) is 44595
- The VWAP & POC of Sep 2023 Series is 44808 & 44438 respectively
- The VWAP & POC of Aug 2023 Series is 44493 & 44550 respectively
- The VWAP & POC of Jul 2023 Series is 45414 & 45075 respectively
Business Areas for 03rd Oct 2023
| Up |
| 44874 – TPO HVN (29 Sep) 44970 – K TPO POC (29 Sep) 45091 – 3-day POC (21-25 Sep) 45238 – Selling Tail (25 Sep) 45370 – VPOC from 22 Sep 45441 – Ext Handle (21 Sep) |
| Down |
| 44812 – Closing PBL (29 Sep) 44691 – A TPO VWAP (29 Sep) 44595 – Closing HVN (28 Sep) 44491 – FA from 27 Sep 44375 – Buying Tail (01 Sep) 44259 – Weekly 2 IB |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.