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Nifty Spot: 22904 [ 23565 / 22857 ] Double Distribution (Down)
Previous week’s report ended with this ‘The weekly profile is a Normal Variation One to the downside all be it on overlapping to higher Value at 22366-22434-22520 with an initial HVN at 22589 from where sellers pushed it lower to form a 3-day Gaussian Curve with a prominent POC at 22433 which will be the 2 important levels to watch out for in the coming week on the upside which if taken out can give a probe towards the extension handle of 22720 & the weekly VPOC of 22894 whereas on the downside, Nifty turns weaker below 22366 for a test of buy side levels of 22231 & 22133 along with the lower weekly VPOC of 22071 and buy tail from 22004‘
Monday - Holiday
Tuesday - 23165 [ 23565 / 23136 ] Double Distribution (Down)
Wednesday - 23332 [ 23350 / 23158 ] Normal Variation (Up)
Thursday - 23250 [ 23306 / 23145 ] Normal (p shape)
Friday - 22904 [ 23214 / 22857 ] Trend (Down)
Nifty began with a move away from previous week's Value on Tuesday forming a Double Distribution (DD) Trend Down profile in an elongated range of 429 points between 23565 to 23136 and consolidated over the next 2 days getting back into balance mode giving a 3-day composite with a prominent POC at 23266 and made another initiative move to the downside from this balance on Friday forming a Trend Day Down of 357 points making a low of 22857 and taking support at March's second extension handle.
The weekly profile is a Double Distribution Trend one to the downside with an initiative selling tail from 23553 to 23565 and the DD zone from 23136 to 23074 forming completely lower Value at 23005-23266-23349 with the closing HVN of 22964 being the immediate supply level for the coming week whereas on the downside, Nifty could go for a test of the March's DD base at 22668 along with the weekly extension handle of 22560 & March's POC of 22491 respectively with the final support being at the Swing Low of 22314.
Click here to view this week’s MarketProfile of Nifty on Vtrender Charts
07 Apr (Monday) - 22161 [ 22254 / 21743 ] Normal (3-1-3)
08 Apr (Tuesday) - 22535 [ 22697 / 22270 ] Neutral
09 Apr (Wednesday) - 22399 [ 22468 / 22353 ] Normal
10 Apr (Thursday) - Holiday
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Up |
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22433 - VAH (09 Apr) 22484 - 08 Apr Halfback 22539 - VPOC (08 Apr) 22609 - K TPO h/b (08 Apr) 22665 - Sell tail (08 Apr) 22728 - 18 Mar Halfback |
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Down |
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22392 - VAL (09 Apr) 22354 - C TPO h/b (08 Apr) 22270 - Buy tail (Apr) 22190 - Weekly IBH 22134 - M TPO low (07 Apr) 22082 - SOC (07 Apr) |
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Additional Hypos (Up) |
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22770 - VPOC (18 Mar) 22857 - Ext Handle (Apr) 22908 - M TPO h/b (04 Apr) 22964 - VPOC (04 Apr) 23026 - PBH (04 Apr) 23074 - Sell Tail (04 Apr) |
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Additional Hypos (Up) |
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23136 - Ext Handle (Apr) 23186 - 3-day VAL (01-03 Apr) 23220 - Yearly POC (2025) 23266 - VPOC (03 Apr) 23317 - L TPO h/b (02 Apr) 23380 - C TPO h/b (01 Apr) |
BankNifty Spot: 51502 [ 51893 / 50742 ] Normal
Previous week’s report ended with this 'BankNifty has formed a nice balance profile with completely higher Value at 51449-51604-51774 with the PLR remaining to the downside as long as the FA of 51875 which is coinciding with Apr's RO point is not taken out by initiative buying'
Monday - Holiday
Tuesday - 50827 [ 51683 / 50742 ] Normal Variation (Down)
Wednesday - 51348 [ 51404 / 50908 ] Normal Variation (Up)
Thursday - 51597 [ 51661 / 50906 ] Normal Variation (Up)
Friday - 51502 [ 51893 / 51360 ] Normal
BankNifty also started the week with a trending move away from previous week's POC forming an elongated profile of 942 points on Tuesday as it tested previous week's low of 50795 but displayed exhaustion on the downside leaving 4 TPOs around the similar lows with the dPOC also shifting to 50830 suggesting profit booking by the shorts which got more confirmation with a higher open on Wednesday where it made a low of 50908 and formed a narrow range 'p' shape profile with a small spike to 51404 into the close.
The auction however rejected the spike by opening with an unexpected gap down on Thursday but once again made similar lows at 50906 where buyers came back aggressively leaving a long A TPO tail and not only got back above 51404 but initiated the 80% Rule in the weekly Value tagging the POC of 51604 while making a high of 51661 and continued this imbalance with a higher open on Friday where it not only completed the 80% Rule but also tagged the FA of 51875 but as expected stalled as could only manage 51893 and ended up forming a 3-1-3 Normal Day with a prominent POC at 51650.
The weekly profile is a Normal One too thanks to the big range it had on the first day with almost overlapping Value at 51139-51475-51734 which has left a clear sign of rejection at the top with a selling tail from 51801 to 51893 hence will remain weak if stays below the POC of 51475 for a probe of the Swing lows lows of 50906 & 50742 along with a test of March's extension handle of 50672 and a break of which can bring in lower levels of 50470 & 49920 into play.
Click here to view this week’s MarketProfile of BankNifty on Vtrender Charts
07 Apr (Monday) - 49860 [ 50426 / 49156 ] Normal
08 Apr (Tuesday) - 50511 [ 50793 / 50030 ] Normal Variation (Down)
09 Apr (Wednesday) - 50240 [ 50496 / 49910 ] Normal Variation (Down)
10 Apr (Thursday) - Holiday
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Up |
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50249 - POC (09 Apr) 50355 - C TPO high (09 Apr) 50494 - POC (08 Apr) 50608 - PBH (08 Apr) 50793 - Swing high (08 Apr) 50906 - SOC (Apr) |
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Additional Hypos (Up) |
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51061 - Weekly 1.5 IB 51213 - 1 ATR (yPOC 50494) 51360 - Gap close (04 Apr) 51522 - VAL (04 Apr) 51650 - VPOC (04 Apr) 51801 - Sell tail (04 Apr) |
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Down |
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50203 - 09 Apr Halfback 50032 - SOC (09 Apr) 49910 - Buy tail (Apr) 49791 - 07 Apr Halfback 49698 - SOC (07 Apr) 49552 - VPOC (07 Apr) |
