Nifty Spot
Monthly Profile (Feb)
Nifty opened the February month with a Neutral profile on the daily giving an indication of the things to come. The first day of the month saw Nifty open above previous month’s POC & probe higher scaling above the monthly VAH of 10928 almost tagging the previous month high of 10987 as the auction reversed from 10983 to get back into the monthly Value and promptly tagging the POC of 10823 making a low of 10813 completing half of the 80% rule all on the first day of the month itself. The next day Nifty again probed lower to make similar lows & this time it also left a FA at 10814 which made it clear that the monthly POC is getting support & the PLR has turned up. Nifty then went on to probe higher tagging the 2 ATR move to the upside and making a high of 11118 on 7th Feb but that day ended as a Neutral Profile making a balance at new highs signalling that the auction to the upside may be done with. The gap down next day confirmed the same as Nifty left a tail from 11069-11029 and started a trending move lower and this time it completed the full 80% Rule on the previous month’s Value of 10928 to 10736 thereby getting below that FA of 10814 and went on to tag the 2 ATR move on the downside also as Nifty made a low of 10585 on 19th Feb just stopping short of breaking the previous month low of 10583. The auction then reversed from this point to get back into the previous month’s profile which was a nice Bell Curve & completed a reverse 80% Rule as it went on to make a high of 10940 on 27th Feb where again it was met with swift rejection to give another rotation lower on the Monthly Value as it made a low of 10751 almost tagging the VAL. Nifty closed in the middle of the profile leaving a Neutral Centre Month with tails at both ends has formed overlapping Value as well as POC from the past 3 months which have been stuck in a range and looks good to give a move away from here. The Monthly Value is 10696-10856-10936.
Monthly Zones:
The vwap of the February series is at 10830 spot and the POC is at 10856
The settlement day (Feb) rollover volume point is at 10860 F.
The vwap of the January series is at 10795 spot and the POC is at 10823
The settlement day (Jan) rollover volume point is at 10676 F.
The vwap of the December series is at 10796 spot and the POC is at 10741
The settlement day (Dec) rollover volume point is at 10830 F.
The vwap of the November series is at 10486 spot and the POC is at 10583
The settlement day (Nov) rollover volume point is at 10873 F.
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.
BankNifty Spot
Monthly Profile (Feb)
BankNifty has made an inside month range wise though the Value formed was below the previous month’s POC of 27332. The first week of February saw BankNifty trending higher from lows of 26825 to complete the 80% Rule on a nicely distributed monthly Value of January from 27050 to 27566 as it made an high of 27590 on 7th Feb and got rejected back into the monthly Value leaving a tail at highs from 27539 to 27590 which indicated that the auction could be reversing. BankNifty then trended lower for the next 7 days not only completing the reverse 80% on monthly Value but went on to break the lows of 26825 to make new lows of 26617 on 18th Feb. The auction made similar lows for 3 consecutive days here leaving poor lows on the monthly profile and signalling exhaustion in the down move. BankNifty then made a balance for the rest of the month building a wide POC on the monthly profile at 26978 and gave a pull back to 27197 on 25th Feb which will be the level to watch on any upmove in the coming month. BankNifty would get weak if sustains below 26978 with lower support at 26880-838. The Monthly Value is 26754-26978-27230.
Monthly Zones:
The vwap of the February series is at 27042 spot and the POC is at 26978
The settlement day (Feb) rollover volume point is at 26965 F.
The vwap of the January series is at 27236 spot and the POC is at 27514
The settlement day (Jan) rollover volume point is at 27332 F.
The vwap of the December series is at 26713 spot and the POC is at 26840
The settlement day (Dec) rollover volume point is at 27035 F.
The vwap of the November series is at 25686 spot and the POC is at 26218
The settlement day (Nov) rollover volume point is at 26880 F.
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.