Nifty Nov F:
NF opened inside previous day range but below the POC of the ‘p’ profile which was at 10590 so the PLR had turned down but volumes were very low at the open & once the OAIR got confirmed it was time to be prepared for a smaller range day with only locals participating and it proved to be one of the narrowest range of just 65 points which is the lowest in 2 months and the total volumes of 85.2 L also were the lowest in 2 months. NF made a nice bell on daily with Value lower & with the highs just below the IBL of Friday but the close was at dVAH. We made a doji on daily along with an inside bar which means we could soon get a trending move ahead. We have vpocs higher at 10590 & 10682 and the vpocs lower are at 10410 & 10248 and the first level to look for tomorrow would be the dPOC of 10530 which could set the move ahead for the day(s) to come. We also have a probable multi-day FA at 10516 if NF can scale above 10570 tomorrow at open and sustain for a 1ATR target of 10680.
- The NF Open was an Open Auction in Range
- The day type was a Normal Variation Day giving a nice bell profile
- Largest volume was traded at 10530 F
- Vwap of the session was at 10536 with volumes of 85.2 L in a session which traded a High-Low range of 10570-10505 for 65 points which is the lowest in past 2 months
- The vwap of 17/10 at 10612 is the resistance now for NOV which was tagged today but could not close above it.
- The vwap of 29/10 at 10175 is strong support now which was broken intraday but re-captured
- We had a FA at 10111 on 31/10 which has done its 2ATR objective & is now strong support
- The VWAP & POC of 31/10 10250 & 10248 will be important levels going forward
For the weekly and other swing levels of the Nifty go to – https://vtrender.in/monthly-and-weekly-charts-analysis(has monthly and weekly Profile charts updated to trade date 02/11)
Daily Zones:
- Value zones (volume profile) are at 10517-10530-10550
Hypos / Estimates for the next session:
a) supply still persists on the zone above 10590F
b) 10510 zone today was seen showing buyers accumulating
c)The auction can break higher if volumes sustain above 10590 for 10630 and 10710.
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BankNifty Nov F:
BNF also opened below the yPOC of 25765 & probed lower breaking into the singles of Friday but got support at 25573 in the first 15 mins which remained the day’s low. BNF also made a balance for most part of the day with a ledge playing out at 25750-760 zone & the higher lows that it was making did indicate that we may get a spike above the ledge levels if it sustains & this played out perfectly with BNF giving a spike at close from 25783-25873 which will be the levels to watch out for at open tomorrow. We have a pull back low at 25700 & a prominent POC at 25720 which will be the support levels below the spike low. We also have a nice 3-1-3 profile on a 2-day composite with balance at 25658-25755-25808 so very good chance of a move away from balance here in BNF.
- The NF Open was an Open Auction in Range
- The day type was a Normal Variation Day with a spike close
- Largest volume was traded at 25720 F
- Vwap of the session was at 25710 with volumes of 29.1 L in a session which traded a High-Low range of 25873-25573 for 300 points
- BNF has closed 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 1ATR of 25102 & today has closed above the 2ATR of 25575
- stayed above the FA we had on 30/10 of 25214 for most part today
- 31st October’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.in/monthly-and-weekly-charts-analysis/(The BN Monthly and BN weekly F charts are posted at the same link)
Daily Zones:
- Value zones ( volume profile) are at 25642-25720-25760
Hypos / Estimates for the next session:
a) supply seen at 25900 from earlier
b) support at 25760 the spike lows to watch in the first part of the day
c)25570 is support 2
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