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Nifty Spot: 26129 [ 26325 / 21743 ] - Neutral Extreme (Up)
Nifty was weak in the first quarter of 2025 staying below the 2024 POC of 24143 as it made couple of attempts to probe below previous year's Value but did not sustain marking the end of the downside after which it probed higher scaling above 24143 in April showing change of polarity after which it formed a 5 month balance from May to Sep builing a base at 24786 from where it moved away in October forming new ATH of 26325 on the first day of December but saw profit booking and a return back to balance
The yearly profile sturcure wise is a Neutral Extreme one to the upside but is more of a balance which was necessary after the elongated 2024 profile which had completely higher Value but 2025 saw more of overlapping to slightly higher Value at 26631-24768-26301 with the yearly VWAP at 24682 and has a prominent HVN at 25920 which will be the important support going into 2026. Needless to say, we will be bullish above VAH of 26301 and first signs of bear getting active would be the auction staying below 24682 and then below the VAL of 23631 which is aligned with 2024 VWAP too.
BankNifty Spot: 26129 [ 26325 / 21743 ] - Neutral Extreme (Up)
BankNifty also opened weak in 2025 staying below 2024 POC of 51214 and went on to make a low of 57844 in Jan taking support right at 2024 VAL of 47833 but the bounce in Feb was a small one after which the auction went on to make new lows for the year at 47702 in March but this look down below previous Value was swiftly rejected marking the end of the downside after which it not only made new highs but went on to leave an extension handle in April with a zone of singles scaling above 2024 VAH of 53738 which then started to show signs of support enabling a futher rise into the last quarter of the year which culminated in a FA getting confirmed at 60114 on 01st Dec forcing the last month of the year to get back to balance.
The yearly profile is a Neutral Extreme one to the upside but more bullish than Nifty as the structure resembles a Double Distibution form with couple of HVNs at 48582 & 49299 in the lower part above which we have a zone of singles from 52063 to 53583 and completely higher Value for the year at 54462-55348-60114 with the VWAP of 2025 at 55259. BankNifty will need to negate the FA at ATH of 60114 to contnue the imbalance it has shown whereas on the downside the HVN at 59040 will be the first major support.
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