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Nifty Spot: 26047 [ 26178 / 25693 ] Normal Variation (Down)
Previous week’s report ended with this ‘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'
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)
12 Dec (Friday) - 26047 [ 26057 / 25938 ] Neutral Extreme (Up)
Nifty displayed rejection on the upside just below last Friday's POC of 26189 which was also a weekly HVN and went on to forge a Trend Day Down completing the 80% Rule on Monday itself and continued the imbalance with new lows of 25728 on Tuesday where it left a buying tail and gave a retracement back to 25947 on Wednesday with a typical C side extension which resulted in a FA (Failed Auction) being confirmed and a quick move down to the 1 ATR objective of 25749 on the same day.
The auction then recorded similar lows in the IB (Initial Balance) on Thursday suggesting exhaustion and went on to get back into previous week's value and promptly completed the first target of hitting the POC at 26036 while making a high of 26057 around where it eventually closed.
The weekly profile from being a DD (Double Distribution) one to the downside closed as a composite 'b' shape one with overlapping to lower Value at 25712-25884-25949 with a close well above the VAH but could continue to fill up the zone between 25909 to 26130 before giving a move away in the coming week.
Click here to view this week’s MarketProfile of Nifty on Vtrender Charts
15 Dec (Monday) - 26027 ( 26047 / 25904) Normal Variation (Up)
16 Dec (Tuesday) - 25860 [ 25980 / 25834 ] Normal Variation (Down)
17 Dec (Wednesday) - 25818 [ 25929 / 25770 ] Normal Variation (Down)
Up |
|---|
25822 - M TPO h/b (17 Dec) 25855 - Ext Handle (17 Dec) 25890 - Sell Tail (17 Dec) 25943 - Sell Tail (16 Dec) 25981 - 2-day Halfback 26022 - 2-day VPOC |
Down |
|---|
25818 - Prev Close 25786 - VAL (17 Dec) 25751 - B TPO h/b (11 Dec) 25693 - Swing low (11 Dec) 25653 - Weekly IBH (10-14 Nov) 25617 - I TPO h/b (11 Nov) |
BankNifty Spot: 59390 [ 59713 / 58799 ] Normal Variation (Down)
Previous week’s report ended with this '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'
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)
12 Dec (Friday) - 59390 [ 59545 / 59224 ] Normal Variation (Down)
BankNifty opened the week with a rejection above previous week's Value and not only completed the 80% Rule but went on to repair the poor lows of 58925 but left fresh poor lows at 58799 as it completed the mandatory 1000 point move from RBI policy day hinting at exhaustion to the downside which in turn triggered a move back to 59545 resulting in a well balanced weekly profile with mostly inside Value at 59055-59210-59431 and will need to show initiative activity in the coming week for a move away.
Click here to view this week’s MarketProfile of BankNifty on Vtrender Charts
15 Dec (Monday) - 59461 [ 59533 / 59044 ] Double Distribution (Up)
16 Dec (Tuesday) - 59034 [ 59335 / 58966 ] Normal Variation (Down)
17 Dec (Wednesday) - 58926 [ 59127 / 58801 ] Normal Variation (Down)
Up |
|---|
58940 - M TPO h/b (17 Dec) 59029 - A TPO h/b (17 Dec) 59150 - 16 Dec Halfback 59257 - Sell Tail mid (16 Dec) 59357 - Ext Handle (15 Dec) 59462 - VPOC (15 Dec) |
Down |
|---|
58921 - POC (17 Dec) 58834 - J TPO h/b (17 Dec) 58746 - Tail (24-25 Nov) 58615 - Ext Handle (Nov) 58467 - Ext Handle (14 Nov) 58382 - L TPO h/b (14 Nov) |
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