Nifty Jun F:
NF opened below the yPOC of 11979 and made a swift move lower leaving a selling tail from 11977 to 11941 breaking below PDL in the IB itself and went on to make multiple range extensions in the C & D periods tagging the 1.5 IB move lower as it made a low of 11886. (Click here to view the profile chart for better understanding) The auction then remained in a narrow range forming a balance below VWAP till the H period when it’s attempt to scale above VWAP got rejected leaving a pull back high at 11918 which led to a new range extension lower as NF made new lows for the day at 11877 in the ‘I’ period but did not sustain these new lows which caused some late shorts to cover as the next 2 periods probed higher almost tagging the morning selling tail as NF made a high of 11938 in the ‘K’ period. NF ended the day around the dPOC leaving a ‘b’ shape profile along with a VPOC higher at 11979 which could get tagged in the coming session if the auctions stays above today’s POC.
- The NF Open was a Open Auction In Range (OAIR) + Open Test Drive (Down)
- The day type was a Normal Variation Day (Down) [‘b’ profile]
- Largest volume was traded at 11915 F
- Vwap of the session was at 11911 with volumes of 80.3 L making a range of 89 points as it made a High-Low of 11966-11877
- The Trend Day VWAP of 12015 was broken & NF closed below it so it is no longer support and will be a new supply point now as we have a selling tail from 12016 to 12059
- The settlement day Roll Over point is 11980
- The VWAP & POC of May Series is 11613 & 11696 respectively.
- The VWAP & POC of Apr Series is 11641 & 11592 respectively.
- The VWAP & POC of Mar Series is 11327 & 11448 respectively.
- Value zones (volume profile) are at 11891-11915-11925
Hypos / Estimates for the next session:
a) NF sustaining above 11915 could test higher levels of 11935-941 & 11965-979
b) Immediate support is at 11915-910 below which the auction could test 11890-875 & 11856
c) Above 11980, NF could probe higher to 11998-12005 & 12025-30
d) Below 11856, the PLR would be down for 11832-825 & 11800-795
e) Above 12030, the auction can probe higher to 12053-72 & 12094-115
f) Break of 11795 can trigger a move lower to 11770 & 11750-745
BankNifty Jun F:
BNF gave a Open Test Drive lower though on lower volumes as the auction tested the yPOC of 31240 at open and gave a trending move lower leaving a selling tail from 31240 to 31110 as it made a low of 30944 in the E period after which the OTF (one time frame) stalled. (Click here to view the profile chart for better understanding) The auction gave a bounce to VWAP leaving a pull back high at 31050 in the H period and this rejection above VWAP led to a fresh range extension lower as BNF made new lows for the day at 30906 in the I period tagging the 1.5 IB extension and then resumed the balance it was forming building a prominent POC around the 31000 level & closed around it leaving a ‘b’ shape profile for the day.
- The BNF Open was a Open Test Drive – Down (OTD) [on lower volumes]
- The day type was a Normal Variation Day (Down) [ ‘b’ profile]
- Largest volume was traded at 31000 F
- Vwap of the session was at 30097 with volumes of just 22.6 L in a session which traded a High-Low range of 31240-30906 for a range of 334 points
- The settlement day Roll Over point is 31644
- The VWAP & POC of May Series 30211 & 28940 respectively
- The VWAP & POC of Apr Series is 30037 & 29762 respectively.
- The VWAP & POC of Mar Series is 29061 & 29778 respectively.
- Value zones (volume profile) are at 30935-31000-31029
Hypos / Estimates for the next session:
a) BNF needs to stay above 31000 for a probe higher to 31050-105 / 31150 & 31200-240
b)Immediate support in at 30975-950 below which it could test 30900 / 30866-818 & 30776-755
c) Above 31240, the auction can rise to 31290-344 & 31368-395
d) Below 30755, BNF can fall to 30674-643 & 30575-545
e) Sustaining above 31395, BNF can give a fresh leg up to 31450-480 & 31536-555
f) Break of 30545 could trigger a move down to 30510-505 & 30400
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