Nifty Dec F:
NF made a OH start just below yPOC of 10928 & stayed inside the 2-day bell for most part of the day. NF had a narrow IB of just 35 points & a multiple IB range extension could have been expected when the IBL broke but NF could not break the previous day low making an identical low of 10872 after which it reversed the one time frame move down from morning. When auction fails to move in one direction, we can expect the opposite end to be probed and NF started moving higher and after facing a brief resistance in the 10900-905 zone tested the IBH & also tagged the yPOC making a high of 10930 where it has left a probable FA. NF was an inside day & made a nice bell on daily & closed near the dPOC giving a perfect Neutral Centre Profile & a very narrow range of just 58 points and volumes were the lowest in 4 months. Even on the 4-day composite NF has made a nice bell with tails at both ends giving a 3-1-3 profile & looks set to give a move away from this balance.
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- The NF Open was a Open Auction in Range
- The day type was a Neutral Centre Day (Bell Profile)
- Largest volume was traded at 10909 F
- Vwap of the session was at 10899 with volumes of 63.7 L in a session which traded a High-Low range of 10930-10872 for 58 points
- NF tagged the 2 ATR target of 10857 from the FA of 10625 on 27/11 and is currently on T+5 days
- The VWAP & POC of Nov Series 10480 & 10580 respectively
- The VWAP & POC of 31/10 10250 & 10248 will be important levels going forward
For the latest weekly and other swing levels of the Nifty go to https://vtrender.in/monthly-nov-and-weekly-charts-26th-to-30th-nov-market-profile-analysis/
Daily Zones:
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- Value zones (volume profile) are at 10885-10909-10911
Hypos / Estimates for the next session:
a) The auction saw supply today coming around 10930 F
b) The Responsive Buyers are still holding 10873- 10850
c) Bias would be down below 10920 for 10870 and 10830
d) Above 10964 can move to 10998 and 11026
BankNifty Dec F:
BNF opened with a gap down of 50+ points and appeared to move away from the 2-day bell as was getting accepted below the VAL of 26900 and stayed below previous day lows too. It did trend lower in the first half tagging the vPOC of 26790 & also the trend day VWAP of 26770 where it seems to have found support & gave a bounce to vwap where it got rejected & then it went on to make a new low at 26751 but again could not sustain below 26770 and bounced back to test the morning selling tail of 26865 before closing at the prominent POC it made at 26810. Value has formed lower & BNF has left a VPOC higher at 26960 so the PLR seems to be down & can tag the vpocs of 26560 & 26450.
- The NF Open was a Open Auction
- The day type was a Normal Variation Day (Down)
- Largest volume was traded at 26810 F
- Vwap of the session was at 26820 with volumes of 21 L in a session which traded a High-Low range of 26925-26751 for 174 points
- BNF negated the FA of 26629 it made on 28/11 and tagged the 1 ATR target up of 26910. The 2 ATR move from that failed FA comes to 27191.
- BNF had left a FA on 27/11 at 26340 and tagged the 2 ATR target of 26902 today & is currently on T+4 days
- BNF has stayed above the vwap of 17/10 which was 25500 and is now support
- We had a FA at 24625 on 31/10 which has completed 1 ATR of 25102 & has stayed above the 2 ATR of 25575
- The VWAP & POC of Nov Series 25686 & 26218 (Spot) respectively
- 31st October’s VWAP of 24895 & POC of 24900 will be important levels going forward
For the Monthly & Weekly Analysis and Charts of the Bank Nifty go to – https://vtrender.in/monthly-nov-and-weekly-charts-26th-to-30th-nov-market-profile-analysis/
Daily Zones:
- Value zones ( volume profile) are at 26795-26810-26858
Hypos / Estimates for the next session:
a) The BNF auctioned below support 1 of 26890 F
b) 26980 and 27000 has some supply
c) PLR has moved down for 26617 and 26392
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