Nifty Mar F:
NF opened higher and remained outside previous day’s range to confirm an OAOR start and after the Trend Day Up yesterday this signaled that we could have a quiet day ahead. NF made an high of 11082 in the ‘A’ period and ‘B’ remained an inside bar leaving a narrow 35 point IB (Initial Balance). (Click here to view the profile chart for better understanding) The auction then made an attempt to break below the IBL in the ‘C’ period and even got back into the previous day’s range as it made a low of 11033 but was swiftly rejected back first above PDH of 11040 and then into the IB leaving a probable FA (Failed Auction) at the dreaded ‘C’ period extension. NF then continued to balance in the IB for the next 3 periods after which it made an attempt to get above the IBH in the ‘G’ period as it made a high of 11087 confirming a FA at 11033 but again was rejected immediately from where it probed lower till the ‘J’ period where it again tagged the IBL but was not able to break it. The auction then made another rotation back to IBH in the ‘K’ period and went on to make a higher high of 11091 and was followed by a new high of 11094 in the ‘L’ period to close above the IBH re-confirming the FA at 11033 which will now be the level to watch on any dips. NF has given a nice Gaussian profile for the day with a prominent POC at 11068 giving a nice balance after the previous day’s imbalance.
- The NF Open was a Open Auction Out of Range (OAOR)
- The day type was a Neutral Day (Gaussian Profile)
- Largest volume was traded at 11068 F
- Vwap of the session was at 11067 with volumes of 87.2 L in a session which traded a High-Low range of 11094-11033 for a range of 61 points
- NF confirmed a FA at 11033 on 06/03 and the 1 ATR move up comes to 11147.
- The Trend Day VWAP & POC of 05/03 at 10946 & 10934 will be important levels for the series.
- The VWAP & POC of Feb Series is 10830 & 10856 respectively.
- The VWAP & POC of Jan Series is 10795 & 10823 respectively.
- The VWAP & POC of Dec Series is 10796 & 10741 respectively.
You can check the monthly charts & other swing levels for Nifty & NF here & for the weekly charts & analysis, please click here.
Daily Zones:
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- Value zones (volume profile) are at 11058-11068-11084
Hypos / Estimates for the next session:
a) NF has immediate resistance at 11098 above which it can probe higher to 11121 and the vPOC of 11134
b) Immediate support is at 11068-64, below which NF could move lower to 11047 and 11033
c) Above 11134, the auction can rise to 11144-147 and 11170
d) Sustaining below 11033, NF can fall to 11018 and 10981-976
BankNifty Mar F:
BNF opened above the yPOC of 27638 and continued the imbalance higher as it made a high of 27760 in the ‘A’ period but closed off it indicating that the auction to the upside may be done with. The next period ‘B’ made a narrow 40 point range inside bar confirming poor trade facilitation at higher levels which meant that the auction could either balance or probe lower. (Click here to view the profile chart for better understanding) BNF broke below the ‘B’ period lows and even went on to break the IBL in the ‘C’ period as it tagged the yPOC of 27638 to make a low of 27607 after which it started to balance in a narrow range for the next 4 periods staying below VWAP but above that 27634. The ‘H’ period then gave another range extension lower tagging the 1.5 IB of 27598 and the ‘I’ period continued the move lower as it made a new low of 27560 falling just short of the 2 IB range extension of 27544. The ‘J’ period then made an inside bar indicating that the move down could be done with and this got confirmed in the ‘K’ period as BNF probed above ‘J’ and went on to get above VWAP to make a high of 27720 after which it balanced around VWAP in the last 2 periods making inside bars and giving a nice balanced profile for the day with overlapping to higher Value and a wide POC at 27670.
- The BNF Open was a Open Auction
- The day type was a Normal Variation Day (Down)
- Largest volume was traded at 27670 F
- Vwap of the session was at 27655 with volumes at 21.9 L in a session which traded a High-Low range of 27760-27560 for a range of 200 points
- BNF confirmed a FA at 27288 on 27/02 and tagged the 1 ATR move down at 27021.The auction got above this FA today and tagged the 1 ATR move up at 27578. The 2 ATR move up comes to 27868.
- The Trend Day VWAP of 05/03 of 27380 will be important level for the series.
- The VWAP & POC of Feb Series 27042 & 26978 respectively
- The VWAP & POC of Jan Series 27236 & 27514 respectively
- The VWAP & POC of Dec Series 26713 & 26832 respectively
For the Monthly charts & other swing levels for BankNifty & BNF click here & for the weekly charts & analysis, please click here.
Daily Zones:
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- Value zones ( volume profile) are at 27634-27670-27735
Hypos / Estimates for the next session:
a) BNF has immediate resistance at 27720-745 above which it can probe higher to 27798 and 27840-868
b) Support is at 27670-634 below which the auction can move lower to 27570 and 27486
c) BNF sustaining above 27870 can move higher to the 27919-930 and 27975
d) Below 27486, we have 2 important support zones first at 27440 & then at 27390-350
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