Nifty Feb F:
NF opened with a small gap down and stayed below Friday’s spike low of 10935 and continued the imbalance it started on Friday to the downside. The auction tagged the 2 ATR move from FA of 11143 which was at 10901 and continued the probe lower tagging the vPOC of 10870 in the ‘B’ period leaving a relatively large IB of 60 points. NF also left a selling tail at top for the third day in succession and today’s tail was from 10900-10957. (Click here to view the profile chart for better understanding) Post IB, the auction started to balance as the ‘C’ & ‘D’ periods made double inside bars staying below VWAP but left a small buying tail at lows from 10879-10870 which had to be taken out for more downside. The ‘E’ period saw NF getting above VWAP & move into the morning selling tail continuing the OTF (one time frame) up since the ‘B’ period lows and this action continued till the ‘G’ period as NF made a high of 10918 but was swiftly rejected giving a fast move to VWAP as it made a low of 10890 leaving an outside bar as it closed above VWAP. The next 2 periods ‘H’ & ‘I’ again made a balance remaining inside ‘G’ after which the auction attempted a move lower as it broke VWAP & the pull back low of 10890 but could only make a low of 10880 leaving the tail at lows intact & this meant the PLR has turned to the upside. NF then made a good move up in the ‘K’ period as it got back above VWAP & went on to get above the pull back highs of 10918 sustaining above it and then probing higher to then scale up above the IBH of 10930 making new highs of 10946 but was met with rejection as it was quickly pushed back into the IB and closed well below IBH leaving a probable FA at highs. The ‘L’ period saw NF breaking below VWAP and looked like there could be another close at lows in NF as Value was forming lower but NF could only tag 10890 before giving a bounce in the closing 15 minutes to close well above VWAP leaving a Normal Day giving a nice balanced profile with small tail at both ends along with a prominent POC at 10906.
- The NF Open was a Open Auction Out of Range (OAOR)
- The day type was a Normal Day (Gaussian Profile)
- Largest volume was traded at 10906 F
- Vwap of the session was at 10903 with volumes of 79.1 L in a session which traded a High-Low range of 10946-10870 for a range of 76 points
- NF had left a FA at 10830 on 04/02 and completed the 2 ATR move up of 11073. This FA is currently on ‘T+6’ days.
- NF had left a FA at 10710 on 04/01 and completed the 2 ATR move up on 15/01 and was strong support. The auction broke below this FA twice last week but has got back above it.
- NF had left a FA at 10580 on 26/12 & completed the 2 ATR move up to 10862. This FA has not been tagged and is now strong support
- The Trend Day VWAP & POC of 06/02 11046 & 11035 was broken on 08/02 and the closed below them so now they are no longer support levels
- The Trend Day VWAP & POC of 31/01 10793 & 10775 will be important levels going forward
- The VWAP & POC of Jan Series is 10795 & 10823 respectively
- The VWAP & POC of Dec Series is 10796 & 10741 respectively
- The VWAP & POC of Nov Series is 10480 & 10580 respectively.
- Value zones (volume profile) are at 10891-10906-10922
Hypos / Estimates for the next session:
a) NF has immediate support at 10890-880 below which it can probe lower to 10851 and the FA & swing low of 10830
b) Sustaining above 10930, NF can move higher to 10945 & 10963
c) Below 10830, NF gets weak for a move to 10818 and can test the trend day VWAP of 10793
d) Above 10963, the auction can rise to 10985 & 11001
BankNifty Feb F:
BNF looked like giving a Open Rejection Reverse down as opened at 27300 and probed higher to tag 27317 just below the wide POC of 27325 and reversed from there to tag not only the morning lows but even the Friday’s low making a low of 27218 in the ‘A’ period after which the ‘B’ period also followed making a new low at 27208 making a 109 point IB and left a selling tail from 27275-27336 but the volumes were very low indicating that there were no new sellers coming in. (Click here to view the profile chart for better understanding) The ‘C’ & ‘D’ periods were very narrow range bars of just 37 and 24 points respectively signalling no intent in the auction after which BNF did probe higher in the next 3 periods (‘E’, ‘F’ & ‘G’) as it moved above IBH to tag the yPOC of 27325 and make an high of 27335 but was swiftly rejected back into the IB following which the next 3 periods (‘H’, ‘I’ & ‘J’) the auction moved lower making a low of 27218 but again saw no volumes coming in which saw another rotation happening to the day high after which the ‘K’ period saw BNF making new highs of 27350 which was again rejected for a move to VWAP as BNF made a pullback low of 27251 before closing above VWAP giving a nice Gaussian Profile on the daily with a prominent POC at 27280 from where BNF could give a good move away.
- The BNF Open was a Open Auction
- The day type was a Normal Day (Bell Curve)
- Largest volume was traded at 27280 F
- Vwap of the session was at 27275 with volumes of just 18.1 L in a session which traded a High-Low range of 27350-27208 for a range of 142 points
- BNF confirmed a FA at 27353 on 06/02 but it got negated on 08/02. BNF could not get above this FA today also so the 1 ATR move down of 26965 is still in play
- BNF confirmed a FA at 27716 on 23/1 and completed the 2 ATR move down hence is now strong resistance
- The VWAP & POC of Jan Series 27236 & 27514 respectively
- The VWAP & POC of Dec Series 26713 & 26832 respectively
- The VWAP & POC of Nov Series 25686 & 26218 (Spot) respectively
- Value zones ( volume profile) are at 27233-27280-27300
Hypos / Estimates for the next session:
a) BNF has a wide POC at 27280 and a move lower from there can bring 27215 & 27160
b) BNF has immediate resistance at 27335-350 above which it can probe higher to 27400-430 and 27488
c) Below 27160, BNF gets weak for a probe to 27090 & 27030
d) Above 27488, the auction can tag 27535 and 27585-600
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