Weekly hypos for the week dated 13th Nov- 17th Nov ( spot prices)

Posted on Posted in Blog

Last week the Nifty and the BankNifty broke lower through the Value low of the previous week Double Distribution Profile and went through the lower distribution before the NIfty stopped at the mini composite highs of 10255 made in the profile dated 16th Oct. The move was marked with high volatility and showed intent on the path of sellers but buyers were seen responding to the lower prices later in the week.

 

The dip in prices paves the way for a consolidation but bias still remains long as we are above the 10130 zone in the Nifty and the BN trades above 25000 effortlessly.

 

Holding 10240 the coming week should see a round of consolidation in the week ahead within the profile of the week.

 

Nifty weekly spot profiles:

 

n_weekly

 

The lows of last week’s profile are places just above the mini composite of 16/10 weekly profile. Last week’s vwap was at 10360 spot with a POC near 10290.

 

Here are the hypos ( valid until Friday 17th Nov)

 

  1. Consolidation expected in the coming week if it holds last week lows
  2. The bounce from 10255 is expected to meet 10400/ 10430
  3. If 10240 breaks the Nifty could drop to the Monthly swing support at 10160
  4. A buy-side bias can be built above 10400 for 10480 later in the week.

For tradeable ideas on these hypos visit the trading room.

If not a member you can get immediate access at – https://in.explara.com/e/vtrender–trading–room/checkout

 

Bank Nifty weekly spot profiles:

 

bn_weekly

 

The BN moved lower into the DD of last week but the auction remained incomplete. We expect the BN now to probe lower to 25030 and build a Gaussian curve in the 25700- 25000 zone in the weeks ahead.

 

Here are the hypos ( valid until Friday 17th Nov)

  1. The BN could find supply higher near 25700 in the week ahead
  2. Support expected near 10300 but below that can drop quickly to 25050 again
  3. If 25700 is overcome it opens a 200 point stretch to 25900

 

For tradeable ideas on these hypos visit the trading room.

If not a member you can get immediate access at – https://in.explara.com/e/vtrender–trading–room/checkout