Day reads · Tue, 27 Oct, 2026 · NIFTY futures
‹ 2026-10-26 · 2026-10-28 ›Neutral expiry day: both IB extensions rejected, old supply capped the high, close back at value center.
NIFTY futures opened inside the prior day's value, set a wide 158-point initial balance, then broke out above it in G and below it in J–K, and both breaks failed before closing near VWAP and POC. Neither side could get acceptance outside the morning range: an old selling tail capped the high and buyers left excess at the low, which is a balanced, two-sided neutral day.
Day type
neutral
Open
open test drive
In control
two-sided
Range
206.7pt · closed mid-range
Session map ⓘEach bar is a 30-minute TPO period (A = 09:15), coloured by Dalton activity against yesterday's value. Shaded: today's value area and nearby prior supply / demand. Hover a bar for its numbers.
Initiative buyingAn up period above yesterday's value — buyers taking new groundResponsive buyingAn up period below yesterday's value — buyers responding to low pricesInitiative sellingA down period below yesterday's value — sellers taking new groundResponsive sellingA down period above yesterday's value — sellers responding to high pricesRotationNo clear direction, or inside yesterday's valueToday's value area▲▼ Large prints (3)Large prints: 500+ lots in one ~2s poll. ▲ buyer-initiated, ▼ seller-initiated (inferred). Hover one for whether the book followed and the OI read. Information only — not shown to predict price.
How the day unfolded
- Test drive up into old supply · A–B · 09:15–10:15The open dipped to test lower, then drove up into the 10-23 selling tail and set the IB high at 22824. A 785-lot buy near the top at 22807 was absorbed, and its OI change reversed on an expiry day when OI is unreliable. The 158-point IB was wide, which often means balance.
- Rotation inside the IB · C–F · 10:15–12:15C lost the morning VWAP at 10:25 and slid toward the IB low, then came back. D through F rotated in narrowing ranges around the middle, and the POC formed near 22745.
- Upside break fails fast · G–H · 12:15–13:15G extended above the IB to 22841.7, still inside the old selling tail. H gave it all back in a 145-point bar to 22690, so the extension found no acceptance.
- Downside break fails too · I–K · 13:15–14:45J pushed below the IB low and K reached 22635. Buyers left a 4-row tail, and K rallied back to 22776, inside the range.
- Close at the center · L–M · 14:45–15:30L rotated higher and M probed 22830 before responsive selling pushed it back. The session closed at 22748.1, almost on VWAP and POC.
Why it happened
Prior supply capped every rally
The selling tail from 10-23 was the other timeframe's earlier rejection zone. Sellers defended it again in B, G and M, so buyers could never hold above it.
10-23 selling tail 22760–22855 tested and held (closestPts 0); highs 22824 (B), 22841.7 (G), 22830 (M)
Buyers rejected the low with excess
The drop below the IB was met by responsive buyers. They left a multi-row tail, which marks the end of the down auction for the day.
Tail 22635–22655, 4 rows, excessLow true; K rallied from 22635 to 22776
Range extension both ways, accepted neither
When both IB edges break and the close lands in the middle, neither timeframe controlled the day. Eleven of twelve periods were rotation, which is a balance market.
Extension up 17.7 (G), down 31 (J); 11 rotation periods, 1 initiative buying; close location 0.55, close 22748.1 vs VWAP 22743.7
Trading inside a larger balance
The day sat inside the multi-day L2 balance, and longer-term value was balancing, so there was no larger force to carry a breakout. Value moved only modestly higher and overlapped the prior day.
L2 22600–22810 INSIDE; value OVERLAPPING_HIGHER, POC 22745 vs prior 22660 (+85); LTF BALANCING, −33 pts
Heavy volume, no direction
Volume ran above normal on expiry, but it was spread across both sides of a D-shaped profile. That is two-sided trade, not conviction.
Volume ratio 1.21; profile shape D, POC in middle third; VA 22695–22795
What this day teaches
Wide IB inside value warns of balance
A 158-point IB opening inside prior value left little room to extend, and both breaks beyond it failed within a period or two.
Excess carries information
The 10-23 selling tail rejected price again at 22841.7, and today's own 4-row buying tail at 22635 marked where the down auction ended.
A range extension needs acceptance
G's break above 22824 lasted one period before H returned it to the bottom of value, showing a breakout without time is only a probe.
All facts
| Session | O 22709 · H 22841.7 · L 22635 · C 22748.1 · VWAP 22743.7 |
| IB | 22666–22824 (158pt) |
| Extension | ↑17.7 from G · ↓31 from J |
| Open | open test drive · inside value |
| Activity | IB 1 · RB 0 · IS 0 · RS 0 · rotation 11 |
| Volume | 1.21× the 10-session median |
| Value | 22695–22795 · POC 22745 · D-shape |
| Extremes | high no tail · low excess (20pt tail) |
| Single prints | none |
| Value vs prior | overlapping higher · POC +85pt |
| Morning VWAP | 22744.6 · up attempt held it in the IB · broke 10:25 |
| Failed move | none |
| Swing VWAP | 22732.8 from the high 23180 (2026-10-19) · down · price above |
| Longer timeframe | balancing (−33pt) |
| L2 | 22725–22860 |
| Large prints | 09:22 BUY 910 @ 22707 · book followed · long build-up (expiry day — unreliable) · OI +853 → +674 lots |
| 10:02 BUY 785 @ 22807 · absorbed · long build-up → reversed (expiry day — unreliable) · OI +779 → −1,011 lots | |
| 11:28 BUY 1,023 @ 22744.8 · absorbed · long build-up (expiry day — unreliable) · OI +1,057 → +1,464 lots | |
| Prior zones | 22760–22855 selling tail (10-23) · supply · tested held |
| 22865–22935 single prints (10-21) · supply · untouched (closest 23.3pt) | |
| 22440–22505 buying tail (10-26) · demand · untouched (closest 130pt) | |
| 22435–22450 buying tail (10-23) · demand · untouched (closest 185pt) | |
| 23115–23140 selling tail (10-21) · supply · untouched (closest 273.3pt) | |
| 23155–23185 selling tail (10-19) · supply · untouched (closest 313.3pt) |
| Reference | Price | From close |
|---|
Limits: Expiry day: OI reads on the large prints are flagged unreliable, and the next session trades a new contract, so these levels may not map exactly. · failedMove is null and oneTimeframing is null; the failed G and J–K extensions are read from the period data, not a classifier.
Built 27/10/2026, 17:36:49 · claude-opus-5-5
Educational only. Facts are computed by fixed rules from the session's futures data and written up by an AI model, published without review. They describe what the market did; they name no trades, levels to act on or expectations for the next session. Not investment advice — see the disclosures below.