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Nifty Spot: 24611 [ 25448 / 24432 ] - Normal Variation (Up)
Previous month's report ended with this 'The monthly profile is a Neutral Extreme one to the downside with completely lower Value at 24344-24624-24781 with a close jus above the monthly HVN of 24389 which will be the immediate support below which Nifty can go for a test of the buying tail from 24150 and the monthly FA of 23935 from May 2025 whereas on the upside we have a daily FA at 24572 as the immediate level to watch above which the monthly POC of 24624 along with the RollOver (RO) point of 24650 will be the higher supply zone with the series VWAP of 24718 being the Swing reference which the buyers will need to take out to make any kind of impression in September'
Nifty opened the month with an OL start (Open=Low) along with a buying tail taking out the immediate hurdles of 24572 & 24624 on the first day itself triggering a largely OTF (One Time Frame) probe higher till the 18th of Sep where it made a high of 25448 stalling just below the July VPOC of 25452 marking the end of the upmove.
The auction then saw initiative selling coming in on 19th as the monthly POC also shifted higher to 24333 confirming profit booking by the buyers and takeover of control by the sellers who then forged an OTF (One Time Frame) move lower into the close of the month retracing almost all of the rise seen in September while making a low of 24587 on the 30th stalling just above the daily VPOC of 24585.
The monthly profile was nicely divided into 2 parts with the first half rising from 24432 to 25448 indicating a Trend Up profile but the second half saw an equally big drop back to 24587 leaving a more balanced structure for September with overlapping to higher Value at 24509-24660-25097 and the series VWAP at 24897 which will be the upper hurdle for the new month in case Nifty is able to get above the immediate one of 24774 which is the RollOver (RO) point in the October futures.
The settlement day Roll Over point (October 2025) is 24774
The VWAP & POC of Sep 2025 Series is 24897 & 24660 respectively
The VWAP & POC of Aug 2025 Series is 24718 & 24624 respectively
The VWAP & POC of Jul 2025 Series is 25142 & 25452 respectively
The VWAP & POC of Jun 2025 Series is 25008 & 25109 respectively
The VWAP & POC of May 2025 Series is 24673 & 24757 respectively
The VWAP & POC of Apr 2025 Series is 23417 & 24334 respectively
BankNifty Spot: 54635 [ 55835 / 53561 ] - Normal Variation (Up)
Previous month's report ended with this 'The monthly profile is a Neutral Extreme one to the downside with completely lower value area at 55042-55131-55809 with extension handles at 54905, 54396 and 53768 which will be the supply points to watch out for in the month of September with the RO (RollOver) point of 54260 also being an important reference in between with the series VWAP of 55171 now being a Swing reference whereas on the downside, BankNifty has immediate support at buying extension handle of 53164 from Apr along with the series VWAP of 52845 below which it can go for a test of the 2025 yearly extension handle of 52064'
BankNifty also made an OL start at 53658 negating the immediate extension handle of 53768 but the first entry into the singles zone from 54086 to 54905 was rejected at 54161 on 02nd making way for new lows for the month at 53561 but this look down below previous month's range also showed swift rejection resulting in buyers seizing control and forcing an upmove which not only saw them taking out the extension handles of 54396 & 54905 but also getting into the balanced Value area zone of August initiating the 80% Rule which it promptly completed making highs of 55835 on 18th
However, the look up above August's Value showed exhaustion as seen by similar highs and the auction left an important responsive selling tail on the daily timeframe reversing the PLR (Path of Least Resistance) to the downside as it first completed the 80% Rule and then dropped further to 54226 into the close taking support just above the daily VPOC of 54177.
BankNifty has formed a Normal Variation monthly profile to the upside but formed mostly lower Value at 53581-54591-55127 aimed at filling up previous month's singles zone from 54086 to 54905 and looks set to move away from this in the coming month with the series VWAP of 54641 being an important reference to show the direction along with the RO (RollOver) point of 55000 of October futures being another big reference on the upside.
The settlement day Roll Over point (October 2025) is 55000
The VWAP & POC of Sep 2025 Series is 54641 & 54591 respectively
The VWAP & POC of Aug 2025 Series is 55171 & 55131 respectively
The VWAP & POC of Jul 2025 Series is 56751 & 57013 respectively
The VWAP & POC of Jun 2025 Series is 56200 & 56608 respectively
The VWAP & POC of May 2025 Series is 55019 & 55320 respectively
The VWAP & POC of Apr 2025 Series is 52485 & 55353 respectively
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