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Nifty Spot: 25178 [ 26341 / 24571 ] - Normal
Nifty started the month with the markets open on a Sunday (thanks to Budget 2026) with an elongated 869 point range Neutral Extreme (NeuX) profile as the buyers failed above the RO of 25400 and went on to break below previous month's low decisively while making a low of 24571 as it tested the 2025 VWAP of 24682 and left a pretty solid responsive buying tail and more confirmation of this reference holding came on the next day (02 Feb) where it formed another NeuX but this time to the upside leaving a FA (Failed Auction) at 24679 and a re-entry back into previous month's range and Value as it completed the 1 ATR target of 24994 and made a high of 25108 into the close.
The auction then made an unprecedented gap up of 1220 points on the news of the Trade Deal getting finalised but could not build on it and showed swift rejection from the 2025 VAH of 26301 leaving a huge A period selling tail from 26341 to 25863 and a 'b' shape profile after which it probed lower over the next 3 sessions but confirmed another FA at 25491 on 06th as buyers seem to be defending the Budget Day high and extension handle of 25440 triggering a bounce back to 26009 on the 11th where initiative sellers turned up right at the 03rd Feb's Halfback of 25991 marking the end of the upmove.
The rest of the month saw Nifty forming a balance from 13th to 26th as it continued to support 25440 on the downside but the sellers kept coming back on the probes higher first with an selling tail from 25812 to 25885 on 19th and then with a FA at 25652 on 25th and closed the month with an Open Drive Down negating the 25440 level effectively with another initiative selling tail from 25364 to 25476 and went on to leave a spike from 25268 to 25141 almost closing that gap of 03rd Feb from 25108. The monthly profile is a Normal one in terms of Range but there was nothing Normal about it as the range of 1769 points indicates but has a well balanced Value area zone right in the middle from 25397 to 25868 with the POC at 25727 and the VWAP at 25593 from where it has given a move away to the downside so can expect a test of the SOC of 25108 and the FA of 24679 on the downside below which the lower objectives would be the buying tail of 24522 from Sep 2025 and Aug 2025 swing low of 24337 and the final zone of support could be the May 2025 singles from 24150 to 23935.
The settlement day Roll Over point (March 2026) is 25610
The VWAP & POC of Feb 2026 Series is 25593 & 25727 respectively
The VWAP & POC of Jan 2026 Series is 25540 & 25228 respectively
The VWAP & POC of Dec 2025 Series is 25988 & 25937 respectively
The VWAP & POC of Nov 2025 Series is 25915 & 25969 respectively
The VWAP & POC of Oct 2025 Series is 25501 & 25875 respectively
The VWAP & POC of Sep 2025 Series is 24897 & 24660 respectively
Click here to view the Nifty Monthly profile on Vtrender Charts
BankNifty Spot: 60529 [ 61764 / 57783 ] - Double Outside Bar
BankNifty has formed a Double Outside Bar on the monthly timeframe with an elongated range of 3982 points as it started the month with a probe lower on the Budget Day but the lookdown below previous month's low did not sustain and it left a FA at 57829 on 02nd marking the end of the downside after which it opened with a gigantic 2792 point gap up on 03rd as it made a swipe higher to 61764 but similar to Nifty left a long A period selling tail till 60264 plus a 'b' shape profile.
The auction then probed lower but left a Swing Low at 59644 right at the RO point of 59650 which became the support for the rest of the month as it formed a larger timeframe balance forming value in the initiative singles from 03rd and managed to make a high of 61678 but saw supply coming back strongly and then another FA being confirmed at 61435 on 24th Feb triggering a move down to 60438 into the close.
BankNifty has formed a 'p' shape kind of a profile for February with the range completely overlapping on both sides with mostly higher Value at 60123-60730-61387 with the series VWAP also centred around 60672 which will be the immediate levels to watch on the upside as we enter March with the RO point of 61410 being a Swing reference now whereas on the downside, the Swing Low of 59644 with the zone of singles till 58687 will be the support below which it could go for a test of the Nov singles from 57521 and the Oct VWAP of 57124.
Click here to view the BankNifty Monthly profile on Vtrender Charts
The settlement day Roll Over point (March 2026) is 61410
The VWAP & POC of Feb 2026 Series is 60672 & 60730 respectively
The VWAP & POC of Jan 2026 Series is 59597 & 59682 respectively
The VWAP & POC of Dec 2025 Series is 59257 & 59283 respectively
The VWAP & POC of Nov 2025 Series is 58602 & 58937 respectively
The VWAP & POC of Oct 2025 Series is 57124 & 58160 respectively
The VWAP & POC of Sep 2025 Series is 54641 & 54591 respectively
