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Nifty Spot: 24750 [ 25116 / 23935 ] - Neutral Extreme (Up)
Previous month's report ended with this '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'
Nifty started with a look up above April highs but got rejected resulting in a 5-day balance (02-08 May) forming a prominent POC at 24389 which was coinciding with the RO (RollOver) point of the May series from where it made an attempt to move away with a spike lower on 08th which was followed by a big gap down on 09th where it tagged the VPOC of 23936 from 25th Apr making an OL (Open=Low) start marking the end of the downmove forming a Gaussian Curve which was succeeded by a gap up and an Open Drive on 12th as the auction scaled above Dec 2024 Swing High and even went on to test the weekly VPOC of 25063 & supply zone of 25110 from Oct 2024 with a Trend Day Up on 15th while making a high of 25116. However this also marked the end of the upside as Nifty left daily FAs right at 25063 on 19th & 27th May indicating sellers coming back closing the month with a 4-day balance with Value at 24733-24761-24831.
The monthly profile once again is a Neutral Extreme (NeuX) one to the upside which also resembles a balance with completely higher Value at 24545-24757-25046 and has a long responsive buying tail from 24150 to 23935 with an important swing low at 24462 which will be the support levels for the coming month with the immediate reference being the NeuX series VWAP of 24673 along with the daily VPOC of 24601 whereas on the upside, Nifty will need to show initiative buying at the 25063 level for a probe towards the higher supply points of 25234 & 25485 from Oct 2024 with the RO point of 24945 for the June series being an important hurdle.
The settlement day Roll Over point (June 2025) is 24945
The VWAP & POC of May 2025 Series is 24673 & 24757 respectively
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
BankNifty Spot: 55749 [ 55875 / 53483 ] - Neutral Extreme (Up)
Previous month's report ended with this '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'
BankNifty could not give a follow up to previous month's NeuX profile inspite of opening with an Open Drive Up on 02nd May as it hit 55692 in the A period but failed to get fresh demand empowering the sellers to strike which they did with a probe lower into the zone of singles from 54176 to 53164 from Apr as it tested the extension handle of 53525 from 17th Apr while making a low of 53483 on 09th indicating return of buyers which got more confirmation with a big gap up open on 12th. However, the auction continued to see absence of demand above 55692 forcing it to remain in a broad range for the rest of the month leaving a Swing low of 54442 on 15th followed by a Swing high at 55875 on 26th closing the month with a 6-day Gaussian Curve with value at 55188-55390-55555 with a close above VAH.
The monthly profile is a well balanced one which remained completely inside previous Value except for one day where it left a buying tail from 53919 to 53483 forming Value at 54763-55320-55589 with the series VWAP at 55019 which will be an important support in the coming month. The RO (RollOver) point for the June series is at 55900 and BankNifty will need to show some initiative buying at that level for move back to imbalance mode to the upside.
The settlement day Roll Over point (June 2025) is 55900
The VWAP & POC of May 2025 Series is 55019 & 55320 respectively
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
