In marketprofile we always like to see where the market is creating value over the longer trem and the state of the current auction with respect to it.
Value is defined as the region where the market traded about 70% of the volume for the time frame you are watching.
Here are two timeframes- the weekly and the monthly/
The monthly charts have cash prices and the weeklies are the April future.
The green shaded regions are the value areas and the purple is the POC.
Nifty Cash :
BankNifty Cash :
Nifty April :
BankNifty April :
The blue in the above 2 charts is the value area and the green bars are the volume points.