Love Vtrender Charts? Check out our new offer!
Nifty Spot: 25003 [ 25029 / 24502 ] Neutral Extreme (Up)
Previous week’s report ended with this ‘The weekly profile was a Normal Variation one to the downside forming completely inside Value at 24717-24761-24875 and needs an initiative move away from 24761 in the coming week to start a fresh imbalance‘
Monday - 24716 [ 24754 / 24526 ] Normal (3-1-3)
Tuesday - 24542 [ 24845 / 24502 ] Normal Variation (Down)
Wednesday - 24620 [ 24644 / 24530 ] Normal Variation (Inside Bar)
Thursday - 24751 [ 24899 / 24613 ] Normal Variation (Up)
Friday - 25003 [ 25029 / 24671 ] Trend (Up)
Nifty began the week with a move away from previous week's Value as it made a low of 24524 in the A period on Monday but did not give any follow through leaving a tiny buying tail at the lows and making a slow retracement higher even making couple of REs (Range Extension) higher almost tagging that prominent POC of 24761 after which it made a higher open on Tuesday but failed to attract fresh demand triggering a long liquidation 'b' shape profile and an Outside Bar as it went on to make new lows for the week at 24502 holding the buying singles from the weekly profile of 19th to 23rd May.
The auction then got back into balance mode on Wednesday staying inside previous value but remained above the yPOC of 24536 suggesting lack of supply at lower levels as it formed a prominent 2-day POC at 24592 and confirmed a move away to the upside with an OD (Open Drive) on Thursday leaving an initiative buying tail from 24690 to 24613 and making new highs for the week at 24899.
Friday saw an OAIR (Open Auction In Range) start as Nifty tested both ends of previous Value in the IB (Initial Balance) but left an important tail at lows confirming that Thursday's buyers were holding and went on to give a rare C side extension handle to blast away to 25029 tagging the previous week's HVN of 25000 where it eventually closed. The weekly profile is a Neutral Extreme one to the upside which was forming mostly lower Value at 24529-24592-24742 but saw an initiative move away confirming a weekly FA at 24502 and left important buy side handles at 24739 & 24899 looking all set to tag the 1 ATR objective of 25125 in the coming week along with the pending target of 25359 from May's monthly FA of 23935 too.
Click here to view this week’s MarketProfile of Nifty on Vtrender Charts
09 Jun (Monday) - 25103 [ 25160 / 25077 ] Normal
10 Jun (Tuesday) - 25104 [ 25199 / 25055 ] Normal (3-1-3)
11 Jun (Wednesday) - 25141 [ 25222 / 25081 ] Normal Variation (Up)
12 Jun (Thursday) - 24888 [ 25196 / 24825 ] Trend (Down)
Up |
|---|
24888 - M TPO high (12 Jun) 24926 - I TPO tail (12 Jun) 24976 - I TPO h/b (12 Jun) 25038 - POC (12 Jun) 25092 - PBH (12 Jun) 25148 - A TPO h/b (12 Jun) |
Down |
|---|
24869 - M TPO h/b (12 Jun) 24817 - Ext Handle (06 Jun) 24757 - May POC 24721 - SOC (06 Jun) 24685 - Buy Tail (06 Jun) 24627 - L TPO h/b (04 Jun) |
BankNifty Spot: 56578 [ 56695 / 55400 ] Normal Variation (Spike)
Previous week’s report ended with this 'BankNifty remained in a narrow range all week forming a nice Gaussian Curve with overlapping to higher Value at 55246-55462-55628 with a close above VAH so can give a move away to imbalance in the coming week where we have the important RBI policy also due'
Monday - 55903 [ 55966 / 55400 ] Normal Variation (Up)
Tuesday - 55599 [ 56161 / 55455 ] Normal Variation (Down)
Wednesday - 55676 [ 55791 / 55408 ] Normal
Thursday - 55760 [ 56010 / 55580 ] Normal Variation (Up)
Friday - 56578 [ 56695 / 55534 ] Neutral Extreme (Up)
BankNifty continued the balance it was forming since last week but gave an important cue regarding the direction as it remained above previous week's POC of 55462 showing support in this zone but the attempt to scale above 23rd Apr's ATH of 56098 resulted in another A period selling tail from 56016 to 56161 indicating sellers holding at higher levels as it prepared for the important RBI Policy Day with a 5-day Gaussian Curve with Value at 55582-55722-55853.
Friday open was a quiet one as remained inside the value in the A TPO but the swipes began in the B as the auction tested both ends of the Value and at the close of the IB made a typical C side extension to 55534 which was swiftly rejected and taken advantage of by aggressive buyers who went on to leave extension handles at 56002 & 56161 confirming a daily FA at lows and promptly went on to complete the 2 ATR target of 56590 while hitting 56695. The weekly profile was shaping to be a Normal Variation one with overlapping to higher Value at 55530-55667-55866 but has given a spike close from 56161 to 56695 which will be the zone to watch in the coming week whereas above the spike it would remain bullish to continue probing unchartered territory.
Click here to view this week’s MarketProfile of BankNifty on Vtrender Charts
09 Jun (Monday) - 56839 [ 57049 / 56792 ] Normal
10 Jun (Tuesday) - 56629 [ 57015 / 56564 ] Normal ('b' shape)
11 Jun (Wednesday) - 56459 [ 56782 / 56399 ] Neutral
12 Jun (Thursday) - 56082 [ 56611 / 55968 ] Trend (Down)
Up |
|---|
56123 - L TPO h/b (12 Jun) 56289 - 12 Jun Halfback 56382 - Ext Handle (12 Jun) 56555 - Sell Tail mid (12 Jun) 56695 - H TPO h/b (11 Jun) 56788 - 10-Jun Halfback |
Down |
|---|
56030 - M TPO h/b (12 Jun) 55853 - 5-day VAH (30May-05Jun) 55733 - 1 ATR (yPOC 56290) 55667 - Weekly POC 55534 - FA (06 Jun) 55408 - Swing Low (04 Jun) |
Markets don't move because indicators change.
Indicators change because markets move.
A practical reference for NSE & BSE derivatives traders. 366 pages, built to sit open beside live charts.