Here are the monthly TPO charts of the Nifty and the BankNifty showing the price distribution in this month as of the close of trading on Friday- 24th Aug.
Nifty Futures Aug :
Please click on chart to magnify it.
The green shaded region is the developing value and the purple bars are the high volume zones.
Most of the value for this series has been created between 5324 and 5450 and the expected expiry should be in this zone.
5354 is the support for NF and a current high volume point.
Banknifty :
The BN profile has been sideways between 10560 and 10370 all the month.
The 10440- 10470 region decides the bias for the index with a move above considered to be positive and move below as neagtive for the index.