Nifty Feb F: 21630 [ 21938 / 21607 ]
| Open Type |
|---|
| OA (Open Auction) |
| Volumes of 18,922 contracts |
| Initial Balance |
|---|
| 124 points (21938 – 21815) |
| Volumes of 38,512 contracts |
| Day Type |
|---|
| Trend – 332 points |
| Volumes of 1,63,520 contracts |
NF continued previous day’s Trend Up imbalance with another higher open scaling above 23rd Jan’s Swing High of 21916 but could only manage to tag 21938 stopping right below the 17th Jan’s C side POC of 21940 marking the return of aggressive sellers who not only pushed it back into previous day’s range & value leaving an A period tail till 21896 but went on to make a RE (Range Extension) lower in the D period making a low of 21770 taking support just above yVWAP of 21761.
The auction then gave a small bounce in the E & F TPOs but got rejected exactly at day’s VWAP as it left a PBH at 21849 indicating that the sellers were in control and they managed to push it back lower making multiple REs from the I to the L periods leaving an extension handle at 21746 and getting into previous A singles while making a low of 21607 leaving back to back Trend Days but in opposite direction.
NF saw the dPOC shift yet again in the direction of the trend which was lower to 21638 which will be the immediate reference for the next open with today’s mid-profile singles from 21689 to 21746 along with the HVN at 21809 being the higher levels to watch whereas on the downside, the imbalance lower could continue below 21622 towards 21583 & 21540 below which 25th Jan’s VWAP & VPOC could come into play.
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Daily Zones
- Largest volume (POC) was traded at 21638 F and VWAP of the session was at 21768
- Value zones (volume profile) are at 21609-21638-21826
- HVNs are at NA (** denotes series POC)
Weekly Zones
- Weekly Charts can be viewed here
- (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 21575 & 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 31st Jan 2024
| Up |
| 21638 – POC from 30 Jan 21689 – Mid-profile singles 21746 – Ext Handle (30 Jan) 21809 – HVN from 30 Jan 21849 – PBH from 30 Jan |
| Down |
| 21622 – Buying tail (30 Jan) 21583 – Singles mid (29 Jan) 21540 – Gap mid (29 Jan) 21480 – 2-day VWAP (24-25 Jan) 21416 – 2-day VPOC (24-25 Jan) |
Spot Hypos for Monthly Close
| Up |
| 21535 – Closing tail (30 Jan) 21583 – Mid-profile singles 21632 – Ext Handle (30 Jan) 21670 – Anamoly (30 Jan) 21733 – PBH from 30 Jan |
| Down |
| 21513 – Buy tail (30 Jan) 21477 – IB singles mid (29 Jan) 21429 – Buy tail low (29 Jan) 21360 – Ext Handle (25 Jan) 21300 – 2-day VPOC (24-25 Jan) |
BankNifty Feb F: 45671 [ 45930 / 45422 ]
| Open Type |
|---|
| OAIR (Open Auction In Range) |
| Volumes of 21,004 contracts |
| Initial Balance |
|---|
| 380 points (45930 – 45550) |
| Volumes of 48,777 contracts |
| Day Type |
|---|
| Normal – 508 points |
| Volumes of 1,67,095 contracts |
BNF made a higher start but could not get above previous VAH of 45938 as it made a high of 45930 and swiped through previous value while making a low of 45635 in the A period and continued to probe lower hitting 45550 in the B leaving an initiative selling tail from 45770 to 45930.
The auction however remained in the IB (Initial Balance) range for most part of the day and even made a probe above day’s VWAP in the F TPO scaling into the A period singles but could only manage to leave a PBH at 45865 suggesting that the upside was capped and went on to swipe lower in the K where it make a look down below PDL hitting 45422 but was swiftly rejected giving a bounce back to 45774.
BNF remained in the K period range for L & M forming another nice balanced 3-1-3 profile for the day with range completely inside hence leaving a 2-day composite with Value at 45592-45717-45864 which will be the zone to watch in the coming session as will need initiative volumes for a move away from here else continue to build on this balance.
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Daily Zones
- Largest volume (POC) was traded at 45679 F and VWAP of the session was at 45680
- Value zones (volume profile) are at 45588-45679-45786
- HVNs are at NA (** denotes series POC)
Weekly Zones
- Weekly Charts can be viewed here
- (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 46488 & 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 31st Jan 2024
| Up |
| 45700 – HVN from 30 Jan 45865 – Selling Tail (30 Jan) 45962 – Selling Tail (29 Jan) 46098 – HVN from 23 Jan 46231 – C TPO VWAP (23 Jan) |
| Down |
| 45592 – 2-day VAL (29-30 Jan) 45453 – 2-day tail (29-30 Jan) 45298 – SOC from 25 Jan 45125 – VWAP from 25 Jan 44999 – VPOC from 25 Jan |
Spot Hypos for Monthly Close
| Up |
| 45367 – dPOC from 30 Jan 45524 – Selling Tail (30 Jan) 45660 – Weekly IBH 45780 – Mid-profile singles (23 Jan) 45898 – Ext Handle (23 Jan) |
| Down |
| 45335 – 2-day VAL (29-30 Jan) 45203 – Buying Tail (29 Jan) 45019 – Gap Mid point (29 Jan) 44865 – SOC from 25 Jan 44721 – L TPO halfback (25 Jan) |
You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here.