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Nifty Spot: 25966 ( 26047 / 25726) Normal Variation (Down)
Previous week’s report ended with this ‘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'
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)
18 Dec (Thursday) - 25815 [ 25902 / 25726 ] Normal Variation (Up)
19 Dec (Friday) - 25966 [ 25993 / 25880 ] Normal ('p' shape)
Nifty opened the week with an attempt to move away from previous Value but stalled just below the RO point of 26060 as it made a high of 26047 on Monday after which it got back into previous value with the help of an initiative selling tail on Tuesday and went on to almost complete the 80% Rule while hitting 25726 on Thursday in the Initial Balance but left a small yet important buying tail making the end of the downside.
The auction made a retracement back to 25993 in the close on Friday leaving an Inside Bar in terms of range for the week which once again was a Normal Variation one to the downside but with overlapping to higher Value at 25817-25882-25981 and more importantly has given a move away from the 2-week overlapping POC of 25882 so could continue this imbalance at the start of the next week.
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22 Dec (Monday) - 26172 ( 26180 / 26047) Normal Variation (Up)
23 Dec (Tuesday) - 26177 [ 26233 / 26119 ] Normal
24 Dec (Wednesday) - 26142 [ 26236 / 26123 ] Neutral
25 Dec (Thursday) - Holiday
Up |
|---|
26144 - M TPO h/b (24 Dec) 26180 - 24 Dec Halfback 26227 - C TPO h/b (24 Dec) 26273 - C TPO h/b (01 Dec) 26325 - Monthly IBH 26377 - Weekly 3 IB |
Down |
|---|
26141 - IBL (24 Dec) 26111 - Buy Tail (22 Dec) 26060 - Dec RO point 26011 - Gap mid (22 Dec) 25966 - VPOC(19 Dec) 25920 - PBL (19 Dec) |
BankNifty Spot: 59069 [ 59533 / 58712 ] Normal Variation (Down)
Previous week’s report ended with this 'BankNifty has formed 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'
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)
18 Dec (Thursday) - 58912 [ 59211 / 58712 ] Normal Variation (Up)
19 Dec (Friday) - 59069 [ 59140 / 58897 ] Neutral Day (Inside Bar)
BankNifty opened on Monday with a low right at previous week's VAL from where it went on to implement the 80% Rule and scaled above value but ended up leaving similar highs at 59533 indicating exhaustion and made a lower open on Tuesday completing the reverse 80% Rule after which it went on to tag previous week's poor lows on Wednesday while hitting 58801 which got repaired in the lower open on Thursday but was also an OL (Open=Low) start at 58713 as the auction confirmed an initiative buying tail and went on to get back to 59211 stalling in Tuesday's selling singles.
The auction remained subdued forming a narrow 243 point range Inside Bar on Friday with the weekly profile representing a composite 'b' with overlapping to lower Value at 58898-59073-59172 and a close around the prominent POC from where we can expect a move away in the coming festive week of Christmas and a good chance for a mini Santa rally.
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22 Dec (Monday) - 59304 [ 59371 / 59155 ] Normal
23 Dec (Tuesday) - 59299 [ 59402 / 59216 ] Normal
24 Dec (Wednesday) - 59183 [ 59478 / 59118 ] Normal Variation (Down)
25 Dec (Thursday) - Holiday
Up |
|---|
59190 - POC (24 Dec) 59302 - 3-day POC (22-24 Dec) 59415 - Dec VAH 59545 - Swing High (12 Dec) 59666 - Sell Tail mid (08 Dec) 59758 - M TPO h/b (05 Dec) |
Down |
|---|
59183 - Prev Close 59073 - 2-day VPOC (18-19 Dec) 58957 - 2-day VAL (18-19 Dec) 58870 - B TPO h/b (18 Dec) 58737 - Buy Tail (18 Dec) 58615 - Ext Handle (Nov) |
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