Nifty Nov F:
NF opened below yVAL & tried to get into the Value but got rejected at yPOC of 10262 & sustained below 10235 indicating the PLR (path of least resistance) at open was to the downside and it continued to probe lower breaking the previous day low & the support band of 10185-175 (trend day vwap & POC) convincingly & tagged the 1ATR level of 10153 from the FA of 10315. It continued to go lower & even broke the IBL of 10130 but was swiftly rejected back into the IB after making a low of 10111 and once it got back above that 10175-185 band again it was on for the 1ATR target of 10273 from the day’s FA of 10111. NF was in a strong upside momentum all day & did not even give a pull back low on 30mins & kept trending higher & got even more strength above the pull back high of 10280 left yesterday & it first left an extension handle at 10287 and then a second one at 10317 just above that FA of 10315 indicating that it is getting ready for a reverse 1ATR move from 10315 which comes to 10477. NF had a spike close if 10359-10419 which will be the first reference for tomorrow above 10419 level to watch would be 10435 which is the 2ATR target from todays FA of 10111.
- The NF Open was an Open Auction In Range
- The day type was a Neutral Day
- Largest volume was traded at 10248 F
- Vwap of the session was at 10250 with volumes of 186.3 L in a session which traded a High-Low range of 10419-10111 for 309 points
- The vwap of 17/10 at 10612 is the resistance now for NOV
- The vwap of 29/10 at 10175 is strong support now which was broken intraday but re-captured
- yesterday’s FA of 10315 stands negated as closed well above it today
- FA at 10111 today
- Today’s VWAP of 10250 & POC of 10248 will be important levels going forward
For the weekly and other swing levels of the Nifty go to – https://vtrender.com/support-and-resistance-levels-nifty-bank-nifty-futures/(has monthly and weekly Profile charts updated to trade date 26/10)
Daily Zones:
- Value zones ( volume profile) are at 10125-10248-10326
Hypos / Estimates for the next session:
a) support now strong at 10262-10242
b) 10317 is the higher support on any pullback
c) supply expected at 10452 and 10472
d) 10188 remains an imp pivot
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BankNifty Nov F:
BNF opened in previous day range but below yVAL & could not cross that 24960 at open which signalled its intention of probing lower & once that trend day vwap of 24780 broke it not only completed the 1atr move of 24737 from the FA of 25214 but looked set to tag the HVN of 24610 stopping just short of it making a low of 24625 where it stopped the OTF down & started to make higher highs on 30mins TPOs. Here, the day signalled reversal which was further confirmed once that trend day vwap of 24780 was re-captured & we had a probable FA at lows of 24625 which got confirmed later in the day. BNF stayed above vwap all day after this & gave a pull back low of 24815 which again showed that 24780 is safe for the day & from there it trended into the close by not just doing the 1ATR move of 25102 from today’s FA of 24625 but also getting above yesterday’s FA of 25214 & tagging that VPOC of 25240. BNF has an extension handle at 25040 & had a spike of 25120-25258 into the close which will be the first reference to watch tomorrow.
- The BNF Open was an Open Auction In Range
- The day type was a Neutral Day
- Largest volume was traded at 24900 F
- Vwap of the session was at 24895 with volumes of 50.7 L in a session which traded a High-Low range of 25258-24625 for 633 points
- The vwap of 17/10 at 25500 is the resistance now for NOV
- FA at 24625 today
- FA at 25214 was revisited but was not able to close above it
- Today’s VWAP of 24895 & POC of 24900 will be important levels going forward
For the weekly and other swing levels of the Bank Nifty go to – https://vtrender.com/support-and-resistance-levels-nifty-bank-nifty-futures/(The BN Monthly and BN weekly F charts are posted at the same link)
Daily Zones:
- Value zones ( volume profile) are at 24630-24900-25005
Hypos / Estimates for the next session:
a) supply at 25268 remains
b) support at 25050 and 24900 lower
c) could look to balance between 25050 and 25260 for the initial half
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