Nifty Spot
Monthly Profile (Oct)
Nifty Spot has made a ‘b’ profile on monthly indicating a long liquidation profile & the monthly close at 10386 which was well above the monthly POC of 10275 indicates short term exhaustion of sellers.
Monthly Zones:
The vwap of the October series is at 10490 spot and the POC is at 10275
The settlement day (Oct) rollover volume point is at 10222 F.
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.
Weekly Profile (12th – 16th Nov)
Nifty has made an outside bar on weekly with mostly higher Value this week in spite of making a new weekly low wtih POC also shifting higher to 10586. The close also has been almost at highs but we have an important zone of resistance above this week’s high with a weekly selling tail from 10713-10821 & a weekly extension handle of 10834 just above it. If it manages to scale above these levels can go on to tag the weekly VPOC of 10916. On the downside 10650-10630 will be the immediate support to watch which if broken can go on to test the weekly POC of 10586. The weekly Value Area is 10546-10586-10654.
NF (Weekly Profile)
NF made a Neutral Extreme Profile on weekly making an outside bar when on Monday it probed lower closing below the previous week’s low & even gapped down on Tuesday but was met with rejection & then on kept trending higher & closed above the previous week’s high. Value for the week was overlapping to higher with POC just about the same as last week. The weekly profile resembles a ‘p’ with a nice balance in the upper part so NF needs to find acceptance above this balance to move higher else could remain in this balance of 10585-10680 & below 10580 NF will get weak & can fall fast as we have a low volume zone from 10580-10460 with 10545 being a minor support. The weekly Value Area is 10584-10597-10680.
BankNifty Spot
Monthly Profile (Oct)
Bank Nifty Spot has made a nice bell on monthly indicating a good balance & closed just above the POC of 25080. Balance leads to imbalance & vice versa so in this case BN can be expected to move away from this monthly balance in has formed giving good chances of a trending move in one direction.
Monthly Zones:
The vwap of the October series is at 25011 spot and the POC is at 25080
The settlement day (Oct) rollover volume point is at 24920 F.
The vwap of the Sept series is at 26441 spot and the POC was at 27360
The settlement day (Sept) rollover volume point is at 25170 F.
Weekly Profile (12th – 16th Nov)
As expected after the balance of last week, BN got into imbalance mode this week making an elongated weekly profile almost 3 times the range of previous week. But this move was not one sided as BN for the first 2 days of the week probed lower testing that weekly extension handle of 25400 & reversing the auction from there & trended higher into the close of the week to tag another weekly extension handle of 26236 making a weekly outside bar. BN has a weekly extension handle at 26045 and a mini balance above it at 26140-26299 & has closed right in middle of this balance. 26140 & 26045 are supports in BN whereas above 26335 (which is an extension handle on daily TF from 21st Sep) we have VPOCs at 26418 & 26653 which could be tagged. The weekly value area is 25450-25945-25990.
BNF (Weekly Profile)
BNF on weekly has made a Neutral Extreme profile which was also an outside week. It probed lower in the first part of the week tagging the weekly extension handle of 25425 & reversed the auction from there to trend higher all week. It has an extension handle at 26080 with a nice mini distribution at top from 26160-26299 on weekly profile though seems to have stalled right at another weekly extension handle of 26333. If it manages to stay above this EH then next probe higher is towards that weekly VPOC of 26547. The weekly value area is 25496-25960-26072.
