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Nifty Spot: 26186 [ 26325 / 25891 ] Normal Variation (Down)
Previous week’s report ended with this ‘Nifty has formed yet another Neutral Extreme profile to the upside on the weekly after testing the earlier weekly FA of 25856 and taking support there resulting in a trending move higher and new ATH of 26310 with overlapping to higher Value at 26061-26205-26302 with a close right at the POC which will be the reference for the coming week'
01 Dec (Monday) - 26175 [ 26325 / 25912 ] Trend (Down)
02 Dec (Tuesday) - 26032 [ 26154 / 25997 ] Normal Variation (Down)
03 Dec (Wednesday) - 25986 [ 26066 / 25891 ] Normal ('b' shape)
04 Dec (Thursday) - 26033 [ 26098 / 25938 ] Normal Variation (Up)
05 Dec (Friday) - 26186 [ 26202 / 25985 ] Normal Variation (Up)
The NeuX gave a rare follow through with a higher open in Nifty but it also saw it recording an OH (Open=High) start at new ATH of 26325 on Monday attracting both profit booking along with fresh supply resulting in a Trend Day Down with an entry back into previous week's range and value and saw continued selling at open over the next 2 sessions as it went on to break below the November POC of 25969 and test the series VWAP of 25915 while making a low of 25891 where sellers seem to get exhausted leaving a 'b' shape Normal Day.
The auction confirmed return of buyers on Thursday with an open above the prominent dPOC of 25929 plus an initiative buying tail as it went on to make a C side extension to 26098 which triggered a retracement back to 25962 but Friday open saw the demand holding on making way for an elongated profile to the upside as it went on to hit 26202 before closing around the dPOC of 26191.
The weekly profile is a Normal Variation one to the downside with mostly lower Value at 25899-26039-26145 and has a small but important selling tail from 26297 to 26325 which will be the zone to be taken out by the buyers for more upside in the coming week.
Click here to view this week’s MarketProfile of Nifty on Vtrender Charts
08 Dec (Monday) - 25960 [ 26178 / 25892 ] Trend (Down)
09 Dec (Tuesday) - 25839 [ 25923 / 25728 ] Normal (3-1-3)
10 Dec (Wednesday) - 25758 [ 25947 / 25734 ] Neutral Extreme (Down)
11 Dec (Thursday) - 25898 [ 25922 / 25693 ] Normal Variation (Up)
Up |
|---|
25909 - 3-day VAH (09-11 Dec) 25947 - FA (10 Dec) 25984 - PBH (08 Dec) 26035 - 08 Dec Halfback 26081 - SOC (08 Dec) 26130 - Sell Tail (08 Dec) |
Down |
|---|
25884 - POC (11 Dec) 25840 - PBL (11 Dec) 25798 - 3-day VAL (09-11 Dec) 25751 - B TPO h/b (11 Dec) 25693 - PDL 25653 - Weekly IBH (10-14 Nov) |
BankNifty Spot: 59777 [ 60114 / 58925 ] Normal Variation (Down)
Previous week’s report ended with this 'BankNifty also formed a Neutral Extreme profile to the upside after testing previous week's value thoroughly for the first 2 days as it tested the buying tail and gave a move away to the upside forming higher Value at 59112-59743-59894 with a close around the prominent POC of 59743 which will be the reference as we enter a new week'
01 Dec (Monday) - 59681 [ 60114 / 59527 ] Neutral Extreme (Down)
02 Dec (Tuesday) - 59273 [ 59656 / 59252 ] Neutral Extreme (Down)
03 Dec (Wednesday) - 59348 [ 59414 / 58925 ] Neutral
04 Dec (Thursday) - 59288 [ 59548 / 59062 ] Neutral
05 Dec (Friday) - 59777 [ 59806 / 59106 ] Normal Variation (Up)
BankNifty also opened higher and went on hit new ATH of 60114 in the IB (Initial Balance) on Monday but made the minutest C side extension signalling buyers getting exhausted and selling taking control with a FA (Failed Auction) getting confirmed which not only triggered a probe lower to the 2 ATR objective of 59221 over the next 2 sessions but also forced a look down below November's POC of 58937 while making similar lows of 58925 marking the end of the downside.
The auction then went on to get back to 59806 with the help of the first initiative buying tail of the week on Friday forming an elongated 'p' shape kind of a profile on the daily with dPOC at 59727 which will be the immediate support for the coming week.
The weekly profile is a Normal Variation to the downside with mostly overlapping Value at 59062-59094-59688 and looks good to move away from this 2-week balance with the RBI event out of the way.
Click here to view this week’s MarketProfile of BankNifty on Vtrender Charts
08 Dec (Monday) - 59238 [ 59713 / 59030 ] Trend (Down)
09 Dec (Tuesday) - 59222 [ 59358 / 58878 ] Normal Variation (Up)
10 Dec (Wednesday) - 58960 [ 59440 / 58853 ] Double Distribution (Down)
11 Dec (Thursday - 59209 [ 59423 / 58799 ] Normal Variation (Up)
Up |
|---|
59222 - Dec POC 59326 - PBH (11 Dec) 59481 - D TPO h/b (08 Dec) 59620 - Sell Tail (08 Dec) 59727 - VPOC (05 Dec) 59888 - Ext Handle (01 Dec) |
Down |
|---|
59207 - POC (11 Dec) 59111 - 11 Dec Halfback 58943 - B TPO h/b (11 Dec) 58804 - Tail (11 Dec) 58677 - 1 ATR (yPOC 59207) 58541 - M TPO h/b (14 Nov) |
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