Nifty Spot
Monthly Profile (Mar)
After 3 months of overlapping Value & POC on the monthly profile, Nifty started the month with a narrow range day on a Friday but moved out of the monthly balance the next week onward leaving singles as it moved away from the monthly POC and above the monthly VAH indicating initiative action on the monthly time frame which was a very bullish signal. Post this initiative move at the start of the first week, the auction then made a small balance higher around the previous month’s high as it closed the week in a ‘p’ profile which indicated shorts in the system being taken out. The next week again saw initiative action at the open as Nifty left another round of singles as it crossed previous month’s high and went on to make a trending triple distribution profile on the weekly tagging the monthly VPOC of 11440 it had left in the month of September 2018. The third week of March saw Nifty continue to probe higher but made a narrower range and a well balanced profile showing signs that the first stage of IPM could be getting over as it closed near the VAL of the weekly profile. The last week started with a gap down as Nifty tagged the weekly VPOC of 11336 making a low of 11311 where it left a weekly FA and from there started a fresh auction to the upside as it trended higher all week scaling above the previous week’s high to tag the 1 ATR move of 11583 from that weekly FA and went on to close at highs leaving a small spike on the monthly profile from 11588 to 11630 which will be the zone to watch in the coming week. The monthly profile is an elongated one which looks like a ‘p’ because of the small balance it has made at the top with multiple zones of singles below it so the monthly POC of 11448 will be an important level going forward and as it was a trending month the monthly VWAP of 11327 will act as important support. The Monthly Value is 11256-11448-11624
Monthly Zones:
The vwap of the March series is at 11327 spot and the POC is at 11448
The settlement day (Apr) rollover volume point is at 11673 F.
The vwap of the February series is at 10830 spot and the POC is at 10856
The settlement day (Mar) 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 (Feb) 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 (Jan) 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 (Dec) 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 (Nov) rollover volume point is at 10222 F.
BankNifty Spot
Monthly Profile (Mar)
After the inside month of February, BankNifty gave a big trending profile in March where it did a huge range of 3570 points as it not only made new all time highs but went on to extend it by more than 2000 points to close at the highs. BankNifty started the month with a move away from previous month’s POC of 26978 as the auction climbed above previous month highs and made a balance at top to give a ‘p’ profile in the first week. The next week saw an initiative move again to the upside at open as BankNifty got into the selling tail of September 2018 & completed 80% Rule on the monthly Value of August 2018 in a jiffy and scaled above the all time high of 28389 to continue trending higher leaving an elongated profile making a weekly range of 1729 points as it made a high of 29520. The third week saw a gap up to continue the probe higher but closed the gap on the same day before making a relatively narrower weekly range of 646 points as BankNifty continued to move higher as it hit 30000 on Friday but saw some rejection at the new highs which led to a good move lower as the auction made an outside bar on daily and closed around the weekly VAL much below the wide weekly POC of 29700 indicating that the probe to the downside it still not over. In the last week, BankNifty opened with a gap down but soon closed that gap & went on to leave a weekly FA at 29156 after which the auction went on to tag the 1 ATR target of 29931 the very next day and made new all time highs of 30262 on 27/03. BankNifty continued to probe higher for the remaining part of the week as it made a high of 30499 on Friday to close the monthly profile at highs. This month’s POC of 29778 and VWAP of 29061 will be important references in the days to come. The Monthly Value is 28462-29778-30380
Monthly Zones:
The vwap of the March series is at 29061 spot and the POC is at 29778
The settlement day (Apr) rollover volume point is at 30500 F.
The vwap of the February series is at 27042 spot and the POC is at 26978
The settlement day (Mar) 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 (Feb) 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 (Jan) 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 (Dec) 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 (Nov) rollover volume point is at 24920 F.