Nifty Dec F:
NF made a gap down of over 50 points & attempted to move up & got resisted just below the identical lows it made on the last 2 days which was an indication that the PLR remains down. This also meant NF was moving away from the nice bell it had given on the composite. However NF again got stuck in a narrow range for the first half of the day when an attempt to break the IBL was swiftly rejected. It then tried to probe the morning selling tail but was rejected from there also leaving a pull back high at 10849. This rejection from the morning singles meant that the PLR had again turned down & NF kept probing lower getting below IBL again to make new lows of 10786 (which was also the 1.5 IB). This low was made in the ‘L’ period which is the last 30 min bar but the bar itself closed at highs of 10830 leaving a small buying tail at lows & NF closed at the dPOC leaving a 3-1-3 profile. The pull back highs of 10844 & 10849 will be the level to watch on the upside whereas on the downside the tail of 10801-10786 can provide support. Value however was formed totally lower.
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- The NF Open was a Open Auction Out of Range
- The day type was a Normal Variation Day (3-1-3 Profile)
- Largest volume was traded at 10826 F
- Vwap of the session was at 10828 with volumes of 84.5 L in a session which traded a High-Low range of 10868-10786 for 81 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 10820-10826-10840
Hypos / Estimates for the next session:
a) The auction saw higher supply closing at lows and demand coming back
b) The Responsive Buyers are now at 10790- 10800
c) Bias would be up above 10826 for 10882 and 10904
d) Below 10764 there is weakness and long liquidation can fuel a drop to 10696
BankNifty Dec F:
BNF had made lower value yesterday & the PLR was down as mentioned in yesterday’s report & BNF validated this when it opened with a gap down of almost 150 points well below that trend day vwap of 26770. It made a low of 26613 in the first 30 mins but there on could not extend the range lower & kept making higher lows till afternoon before attempting a break above IBH which was rejected back into the IB range and the narrow range of the day continued before BNF had an explosive move in the closing hour when it made a new high of 26745 & went on to make a new low too at 26561 (which was the first vPOC lower) before closing just below the dPOC of 26665. Value was again formed lower but we also had a buying tail at lows today (26603-26561) and if this holds we can expect BNF to tag the vPOC of 26810 else below 26560 that vPOC of 26450 comes calling.
- The NF Open was a Open Auction Out of Range
- The day type was a Neutral Day (3-1-3 profile)
- Largest volume was traded at 26665 F
- Vwap of the session was at 26660 with volumes of 26.8 L in a session which traded a High-Low range of 26745-26561 for 184 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 26627-26665-26685
Hypos / Estimates for the next session:
a) The BNF saw some demand come back near 26580
b) 26840 and 26980 still has supply
c) Bias would be up above 26666 for 26791 and 26840
d) Weakness below 26580 for 26490 again
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