Here are some quick reference levels for the Nifty Futures and the BankNifty Futures. These levels work as support and resistance and are derived from the Market profile charts.
Nifty Futures Oct F:
Nifty Monthly spot :
Monthly Zones:
- The vwap of the Aug series was at 11444 spot and the POC was at 11480
- The vwap of the Sept series is at 11304 spot and the POC was at 11460
- The settlement day (Sept) rollover volume point is at 11025 F.
- Highest Rollover point was at 11088 Oct F
- For the current series of OCT the largest volume has been traded at 10335 spot.
Weekly Zones :
- The weekly profile showed a Balance last week ending the imbalance seen from 11100 even in the weekly TF
- The highs and lows of this balance at 10500 and at 10200 are pointing to the next swing of 300 points in the weekly
- For the week the 10560- 10590 F zone is crucial in OrderFlow to see signs of new selling
- Lower down the 10350 zone is a support for this leg
- In prior week charts, the 10956 zone has active sellers and should meet more selling if price goes there
- There is also a selling excess at 10800
- For the immediate Mon and Tuesday if the auction sustains over 10480 with Volumes it will be considered bullish behavior.
Bank Nifty Futures Oct F:
Bank Nifty Monthly spot :
Monthly Zones :
- The vwap of Aug series was at 27923 spot with POC of 28280
- The vwap of Sept series is at 26441 spot with POC of 27360
- The settlement day rollover volume point (Sept) is at 25170 F.
- Highest Rollover point was at 25185 Sept F
- Current highest volume traded of BN is 24720 for OCT
Weekly Zones :
- The BNF weekly profiles throw up a 3 week balance in a range
- The BNF is definitely looking stronger of the 2 indices and the best to trade a bounce if any in coming week
- If the BNF sustains above the composite highs the bounce could extemd to 26620 on the higher side
- 25180 F is the near support now for BNF
- 24650 is support 2.