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Nifty Spot: 25910 [ 26010 / 25449 ] Neutral Extreme (Up)
Previous week’s report ended with this ‘Nifty completed a hat-trick of Neutral Extreme weekly profiles on the downside with completely lower Value at 25536-25754-25797'
10 Nov (Monday) - 25574 [ 25653 / 25503 ] Normal Variation (Up)
11 Nov (Tuesday) - 25694 [ 25715 / 25449 ] Neutral Extreme (Up)
12 Nov (Wednesday) - 25875 [ 25934 / 25781 ] Normal Variation (Up)
13 Nov (Thursday) - 25879 [ 26010 / 25808 ] Normal Variation (Up)
14 Nov (Friday) - 25910 [ 25940 / 25740 ] Neutral Extreme (Up)
Nifty opened on Monday with an OL (Open=Low) start at 25503 indicating no follow through to the NeuX close as it got back into previous week's Value with an initiative buying tail but ended up with poor highs at 25653 signalling exhaustion to the upside and leaving a 'p' shape profile with a prominent POC at 25633 from where it made a drive down on Tuesday negating the buying tail in the IB (Initial Balance) after which it made a C side extension to 25449 and left similar lows marking the end of the down move for the week as it formed a NeuX Day confirming a FA at lows & hit new highs for the week at 25715
The auction continued the imbalance with a rare follow through to a NeuX profile with a gap up open along with an A period tail on Wednesday where it completed the 1 ATR (weekly) objective of 25908 from 25449 while making a high of 25934 and scaled above the weekly VPOC of 25935 (27-31 Oct) on Thursday even making a look up above the VAH of 26002 but left a small responsive selling tail triggering a test of the 2 buying tails of last couple of sessions as it made a low of 25740 on Friday before closing with yet another NeuX Day to the upside.
The weekly profile as has become the habit is yet another Neutral Extreme one but for a change it is to the upside this time with mostly higher Value at 25787-25893-26010 and a FA at lows of 25449 which has completed the 1 ATR target of 25908 and closed above it so can look for more upside in the coming week towards the ATH of 26277 & the 2 ATR mark of 26366 whereas the immediate support would be the singles zone from 25751 to 25715 and below it the HVN of 25634 along with the daily VPOC of 25517.
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17 Nov (Monday) - 26013 [ 26024 / 25906 ] Normal Variation (Up)
18 Nov (Tuesday) - 25910 [ 26029 / 25876 ] Normal (Outside Bar)
19 Nov (Wednesday) - 26052 [ 26074 / 25856 ] Trend (Up)
20 Nov (Thursday) - 26192 [ 26246 / 26063 ] Double Distribution (Up)
Up |
|---|
26205 - M TPO high 26246 - PDH 26277 - FA (27 Sep) 26324 - 1 ATR (WFA 25856) 26366 - 2 ATR (WFA 25449) 26400 - 2 ATR (VPOC 26018) |
Down |
|---|
26192 - Prev Close 26154 - 20 Nov Halfback 26114 - C TPO h/b (20 Nov) 26074 - Ext Handle (Nov) 26029 - Ext Handle (Nov) 25987 - PBL (19 Nov) |
BankNifty Spot: 58517 [ 58616 / 57594 ] Neutral Extreme (Up)
Previous week’s report ended with this 'BankNifty saw some demand coming back just above the Oct VWAP of 57124 resulting in a sharp move back to 58001 before closing around the prominent weekly POC of 57867 leaving a Neutral Centre structure for the week with overlapping to lower Value at 57685-58767-58174 and an important buying tail from 57249 to 57157'
10 Nov (Monday) - 57937 [ 58097 / 57846 ] Normal
11 Nov (Tuesday) - 58138 [ 58187 / 57594 ] Neutral Extreme (Up)
12 Nov (Wednesday) - 58274 [ 58507 / 58171 ] Normal (Spike)
13 Nov (Thursday) - 58381 [ 58616 / 58127 ] Normal Variation (Up)
14 Nov (Friday) - 58517 [ 58001 / 57157 ] Normal (Spike)
BankNifty opened the week with a narrow range Normal Day completely inside previous week's Value forming a prominent POC at 58028 from where it moved away at open on Tuesday even probing below the VAL of 57685 while making a low of 57594 but this came in a typical C side extension which got rejected and this failed move below VAL triggered a probe higher resulting in a FA forming on the weekly timeframe as it hit new ATH of 58616 but saw exhaustion there stalling just below the 1 ATR objective of 58687.
The auction then made a retracement back to 58050 at open on Friday but left an A period buying tail indicating that it wanted to stay above previous week's Value and went on to make a mini spike back to 58590 into the close leaving a Neutral Extreme profile to the upside with overlapping to higher Value at 57884-58032-58396 and looks good for a move away from this 4-week balance now to the upside in the coming week as it ventures into unchartered territory.
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17 Nov (Monday) - 58962 [ 59001 / 58605 ] Normal ('p' shape)
18 Nov (Tuesday) - 58899 [ 59103 / 58798 ] Neutral
19 Nov (Wednesday) - 59216 [ 59264 / 58688 ] Trend (Up)
20 Nov (Thursday) - 59347 [ 59440 / 59125 ] Normal Variation (Up)
Up |
|---|
59353 - POC (20 Nov) 59440 - ATH 59564 - 1 ATR (59103) 59725 - 1 ATR (59264) 59814 - 1 ATR (59353) 59901 - 1 ATR (59440) |
Down |
|---|
59347 - Prev Close 59264 - Ext Handle (Nov) 59103 - Ext Handle (Nov) 58976 - 19 Nov Halfback 58856 - SOC (19 Nov) 58723 - Buy Tail (19 Nov) |
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