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Nifty Spot: 24334 [ 24457 / 21743 ] - Neutral Extreme (Up)
Previous month's report ended with this 'The monthly profile is a Double Distribution (DD) Trend Up one with an initiative buying tail at the lows from 22004 to 21964 and an initial base at HVN at 22071 from where it trended higher forming another base at the 4-day composite POC of 22433 & HVN of 22509 before taking off from 18th Mar leaving an extension handle at 22668 along with 4 consecutive daily VPOCs at 22770, 22903, 23049 & 23343 and making a high of 23869 on 25th stalling just below the twin extension handles of 23880-23911 from 06th Jan as it left a responsive selling tail till 23736 indicating profit booking by the buyers hence closing the month with a 5-day composite HVN at 23602 which will be the immediate reference on the upside for the month of Apr staying below which we could see a filling up of the DD zone from 23402 to 22668 with 22491 being an important Swing support'
Nifty opened April with a lower open well below the HVN of 23602 and continued with a downside probe for the first 4 sessions as it not only filled up the DD zone from 23402 to 22668 but went on to make a look down below previous month's low with an unprecedented gap down open of 1146 points on 07th where it made a low of 21743 testing the responsive buying tail from June 2024.
The auction then reversed the probe to the upside giving a trending move over the next 6 sessions & leaving important daily VPOCs at 21986, 22402, 22832, 23309, 23855 before getting back to balance mode in the last 8 sessions building a composite HVN at 24334 signalling profit booking by the buyers.
The monthly profile is a Neutral Extreme one to the upside with overlapping to higher Value at 22881-24334-24455 which has a nice responsive buying tail from 22270 to 21743 and some strong buy side footprints at 22484, 22809 & 23585 along with a HVN at 23300 plus the series VWAP of 23417 which will be the important support levels for the next month whereas on the upside, Nifty sustaining above 24334 and the RO (RollOver) point of 24378 can bring a test of the Dec 2024 VPOC of 24621 and singles from 24792 above which it could go for the HVN & BRN of 25000 from Oct 2024.
The settlement day Roll Over point (May 2025) is 24378
The VWAP & POC of Apr 2025 Series is 23417 & 24334 respectively
The VWAP & POC of Mar 2025 Series is 22991 & 22491 respectively
The VWAP & POC of Feb 2025 Series is 22982 & 22900 respectively
The VWAP & POC of Jan 2025 Series is 23342 & 23163 respectively
The VWAP & POC of Dec 2024 Series is 24193 & 24621 respectively
The VWAP & POC of Nov 2024 Series is 23978 & 24185 respectively
BankNifty Spot: 55087 [ 56098 / 49156 ] - Neutral Extreme (Up)
Previous month's report ended with this 'The monthly profile is a Neutral Extreme one to the upside which also resembles a Double Distribution profile with a FA at lows of 47702 a small tail till 47841 and has left multiple extension handles at 48839, 49400, 49807, 50155 & 50672 which will be the support levels for the coming month as BankNifty could fill up the DD zone from 51050 to 48839 as long as it remains below the daily FA of 51875 from 26th which also coincides with the RO point of Apr which is at 51880'
BankNifty was the more bullish index of the month as it started the first week of April with a balanced 4-day composite taking support just above the extension handle of 50672 while making a low of 50742 and showing signs of supply at the RO point as it left an A period selling tail on 04th which was followed by that humongous gap down of 2166 points on 07th where it tested previous month's singles zone from 51050 to 48839 making a low of 49156 but this look down below previous Value was swiftly rejected indicating demand coming back forming a base at 49552.
The auction then consolidated for couple of sessions absorbing all the supply which was coming in shifting the base higher to 50262 and began an OTF (One Time Frame) probe higher from the 11th leaving an important VPOC at 51011 from where it launched into beast mode leaving an important A period buying tail at the RO point and scaling above previous month's high of 52064 with an extension handle as it left daily VPOCs at 52322, 52784 & 54298 & went on to take out the Dec 2024 Swing highs of 53888 continuing the upmove even scaling above ATH of 54467 with a gap up on 21st but the range began to contract leaving back to back 'p' shape profiles suggesting demand coming off. More confirmation came on 23rd where the higher open at 56098 was swiftly rejected with an ORR start and a 'b' shape long liquidation profile as longs continued to book profits triggering a drop down to 54176 where it left a responsive buying tail.
The monthly profile is a Neutral Extreme One to the upside with completely higher Value at 53922-55353-56095 which started with a responsive buying tail at lows from 49910 to 49156 along with buy side initiations at 50203, 50793 & 51893 and extension handles at 52064, 52486 & 53164 which will be the important support levels in the coming month whereas on the upside, BankNifty will need to get fresh demand above this month's POC of 55353 which coincides with the RO point of May series and needs to negate the daily swing highs of 55957 & 56098 to continue flying in unchartered territories.
The settlement day Roll Over point (May 2025) is 55348
The VWAP & POC of Apr 2025 Series is 52485 & 55353 respectively
The VWAP & POC of Mar 2025 Series is 49563 & 48335 respectively
The VWAP & POC of Feb 2025 Series is 49361 & 49290 respectively
The VWAP & POC of Jan 2025 Series is 49283 & 48728 respectively
The VWAP & POC of Dec 2024 Series is 52436 & 53355 respectively
The VWAP & POC of Nov 2024 Series is 51417 & 52129 respectively
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