Nifty/ BN Weekly View (spot) for 07 Dec- 11 Dec’15

Last week we failed at a VAL of a two-time-frame weekly profile from the week of 2-9 Nov. If you recollect AMT had shown the base of another 2-time frame profile as a support 2 weeks back. It’s subtle things like these which if analysed correctly hold an edge for many a bias. Subsequently the week gone by broke the VAH of the previous week and by the close had dropped 195 points to wipe out 2 weeks of gains. 

Last week’s report can be assessed here –


In the week to come, KRA is at 7855 spot and in itself can hold the keys to a 250 point rise or a 200 point fall in the week to come.


Nifty TPO charts:



Monday and Tuesday were Gaussian profiles as the Nifty attempted a move above the 7970 VAL mentioned in last week’s post ( High of 7972). In our daily blog updates, we spoke about a trending move about to be released. That trending move came through on Wednesday and by Friday had dropped the index down by 197 points.


7855 spot is our KRA in the coming week. The chart above is annotated with the important points. The auction path shows us a pushup to 7915 spot if we move above 7855. If 7915 is taken out then the auction may jump higher to 8080 and 8105.


If 7855 shows renewed selling, we expect a test of 7722 in the week to come. A failure below 7722 can drop it to 7642 and 7590. 



Banknifty TPO chart:




The 17070 composite POC of last week has been broken. The BNF also shows a lot of long liquidation from 17300 spot levels.


We see resistance at 17070- 17120 in BN in the coming week. We are also biased negatively on the auction below 17300 spot and the singles near 16700 are the only support in the index.


In the week to come if BN is seen getting resisted at 17130 and further up at 17300 then it can come down for a test of 16700 again.


If 16700 gets broken the BN can drop down to 16300 levels.


We have used quantitative analysis and the principles of Auction market Theory to arrive at our levels. For running updates of the daily and weekly moves and to join our community visit – Vtrender Trading Room