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Nifty Spot: 25285 [ 25330 / 24881 ] Double Distribution (Up)
Previous week’s report ended with this ‘Nifty has formed a Neutral Extreme profile to the upside on the weekly timeframe with completely lower Value at 24605-24660-24780 as the look down below previous week's low resulted in a FA (Failed Auction) getting confirmed at 24587 so as long as the auction stays above 24791 in the coming week it could go on to hit the 1 ATR objective of 25049 with an important sell side extension handle at 24932 being the immediate hurdle'

06 Oct (Monday) - 25077 [ 25095 / 24881 ] Trend (Up)
07 Oct (Tuesday) - 25108 [ 25220 / 25076 ] Normal
08 Oct (Wednesday - 25046 [ 25192 / 25008 ] Normal Variation (Down)
09 Oct (Thursday) - 25181 [ 25199 / 25024 ] Normal Variation (Up)
10 Oct (Friday) - 25285 [ 25330 / 25156 ] Normal Variation ('p' shape)
Nifty gave a rare follow through to a NeuX structure with a strong Open Rejection Reverse (ORR) start on Monday where it left an initiative buying tail and went on to completed the first objective of 25049 as mentioned above with the help of an extension handle at 25016 as it went on to make a high of 25095 and this imbalance continued on Tuesday with new highs of 25220 after which the auction got back into balance mode till Thursday validating the extension handle of 25016 while making a low of 25008 and building a prominent POC at 25141 from where it made another strong Open Drive (OD) up on Friday leaving another A period singles from 25248 to 25156 and extending higher to 25330 where it stalled yet again at that wall of 25333 from mid-September forming a 'p' shape profile for the day with a close around the prominent POC of 25282.
The weekly profile is a Double Distribution Trend up one with an initiative buying tail from 24937 to 24881 forming completely higher Value at 25024-25141-25204 from where it left an extension handle at 25220 and almost tagged the weekly VPOC of 25333 while making a high of 25330 and settled down to close at the upper HVN of 25282 which will be the opening reference for the coming week.
Click here to view this week’s MarketProfile of Nifty on Vtrender Charts

13 Oct (Monday) - 25227 [ 25267 / 25152 ] Normal
14 Oct (Tuesday) - 25145 [ 25310 / 25060 ] Normal Variation (Down)
15 Oct (Wednesday) - 25323 [ 25365 / 25159 ] Normal Variation (Up)
Up |
|---|
25329 - POC (15 Oct) 25376 - A TPO h/b (19 Sep) 25431 - Sell tail (Sep) 25476 - A TPO h/b (10 Jul) 25525 - VPOC (09 Jul) 25587 - FA (03 Jul) |
Down |
|---|
25310 - L TPO h/b (15 Oct) 25275 - C TPO h/b (15 Oct) 25230 - B TPO h/b (15 Oct) 25184 - Buy Tail mid (15 Oct) 25124 - VPOC (14 Oct) 25062 - Buy tail (14 Oct) |

BankNifty Spot: 56609 [ 56760 / 55727 ] Normal Variation (Up)
Previous week’s report ended with this 'BankNifty also made a look down below previous week's low and got rejected almost retracing the entire Trend Down profile's range forming a Double Distribution (DD) kind of a weekly structure with overlapping to lower value at 54228-54654-55317 and has an important DD zone from 55177 to 55029 which will act as support for the coming week for a probe towards the higher VPOC of 56187'

06 Oct (Monday) - 56104 [ 56164 / 55727 ] Normal Variation (Up)
07 Oct (Tuesday) - 56239 [ 56502 / 56025 ] Normal Variation (Up)
08 Oct (Wednesday - 56018 [ 56303 / 55821 ] Normal Variation (Down)
09 Oct (Thursday) - 56192 [ 56286 / 55843 ] Normal Variation (Up)
10 Oct (Friday) - 56609 [ 56760 / 56152 ] Normal Variation (Up)
BankNifty also continued previous week's imbalance clearing the poor highs of not just last profile but the prior 2 weekly ones before it after it left an initiative buying tail on Monday and almost tagged the first objective mentioned above of 56187 while making a high of 56164 followed by another A period tail on Tuesday where it went on to record new highs of 56502 but made a J TPO extension known for some laggard moves triggering a drop back to 55821 on Wednesday taking support in Monday's singles and remained in a similar range all of next session forming a nice 2-day Gaussian Curve with a prominent POC at 56165 and expectedly gave a move away with an Open Drive Up on Friday leaving a long A period tail from 56471 to 56152 and went on to forge new highs of 56760 forming a 'p' shape profile with a close right at the prominent POC of 56608.
The weekly structure is a Normal Variation one to the upside with an initiative buying tail from 55821 to 55727 above which it formed a largely balanced Value area zone at 55856-56066-56346 and moved away from this zone with a tail till 56471 which will be the first support for the coming week whereas for more upside, BankNifty will need to sustain above the closing HVN of 56608 with the higher weekly VPOC of 57082 being the first objective.
Click here to view this week’s MarketProfile of BankNifty on Vtrender Charts

13 Oct (Monday) - 56625 [ 56770 / 56327 ] Normal Variation (Up)
14 Oct (Tuesday) - 56496 [ 56721 / 56230 ] Normal Variation (Down)
15 Oct (Wednesday) - 56799 [ 56922 / 56491 ] Normal Variation (Up)
Up |
|---|
56822 - M TPO h/b (15 Oct) 56922 - PDH 57051 - Sell Tail (25 Jul) 57163 - A TPO h/b (24 Jul) 57316 - Swing High (24 Jul) 57422 - Weekly VPOC (30Jun-04Jul) |
Down |
|---|
56799 - Prev Close 56683 - Weekly IBH 56582 - B TPO h/b (15 Oct) 56475 - 14 Oct Halfback 56327 - Weekly IBL 56165 - 2-day POC (08-09 Oct) |
