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Nifty Spot: 23350 [ 23402 / 22384 ] - Multiple Distribution Trend (Up)
Previous week’s report ended with this ‘The weekly profile is a Normal Variation One to the downside all be it on overlapping to higher Value at 22366-22434-22520 with an initial HVN at 22589 from where sellers pushed it lower to form a 3-day Gaussian Curve with a prominent POC at 22433 which will be the 2 important levels to watch out for in the coming week on the upside which if taken out can give a probe towards the extension handle of 22720 & the weekly VPOC of 22894 whereas on the downside, Nifty turns weaker below 22366 for a test of buy side levels of 22231 & 22133 along with the lower weekly VPOC of 22071 and buy tail from 22004‘
Monday - 22508 [ 22577 / 22384 ] - Normal
Tuesday - 22834 [ 22857 / 22599 ] - Normal Variation (Up)
Wednesday - 22907 [ 22940 / 22807 ] - Normal Variation (Up)
Thursday - 23190 [ 23216 / 22974 ] - Double Distribution (Up)
Friday - 23350 [ 23402 / 23132 ] - Normal Variation (Up)
Nifty opened the week with a Drive Up but stalled near the HVN of 22589 as it formed a Normal Day with a prominent POC at 22509 and saw buyers coming in aggresively for the next 4 sessions leaving initiative buying tails and not only taking out the higher weekly VPOCs of 22894 & 23069 but went on to tag the HVN of 23352 from 10th to 14th Feb where it eventually closed.
The weekly profile is a multiple distribution Trend Up one of 1019 points with completely higher Value at 23125-23343-23400 with couple of HVNs at 22900 & 22509 which will be the swing support levels going forward with the immedaite support zone being the extension handles of 23216 & 23071. Nifty will need to sustain above this week's POC of 23343 to continue the imbalance on the upside with the first objective being the weekly VPOC of 23573 from 03rd to 07th Feb
Click here to view this week’s MarketProfile of Nifty on Vtrender Charts
24th Mar (Monday) - 23658 [ 23708 / 23433 ] Normal Variation (Up)
25th Mar (Tuesday) - 23668 [ 23869 / 23601 ] Normal Variation (Down)
26th Mar (Wednesday) - 23486 [ 23736 / 23451 ] Trend (Down)
27th Mar (Thursday) - 23592 [ 23646 / 23412 ] Normal ('p' shape)
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Up |
|---|
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23592 - Prev Close 23638 - PBH (26 Mar) 23674 - VPOC (26 Mar) 23720 - K TPO h/b (25-Mar) 23770 - SOC (25 Mar) 23840 - 1 ATR (yPOC 23605) |
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Down |
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23579 - VAL (27 Mar) 23524 - 27 Mar Halfback 23487 - A TPO h/b (27 Mar) 23439 - 1 ATR (VPOC 23674) 23379 - PBH (21 Mar) 23343 - VPOC (21 Mar) |
BankNifty Spot: 50593 [ 50672 / 48196 ] Multiple Distribution Trend (Up)
Previous week’s report ended with this 'This week's profile was shaping up as a Double Distribution One to the downside which almost completed the 3 IB objective but the extension handle of 48285 got tested on the last day turning it into a Normal Variation week with completely lower Value at 47799-47875-48206 with the closing 2-day POC of 48069 being the immediate reference on the upside for the coming week with the higher references being at 48365 & 48500 whereas on the downside, this week's POC of 47875 will be the immediate support below which the buying tail from 47761 and 05th Jun's levels of 47664 & 47588 could come into play'
Monday - 48354 [ 48481 / 48196 ] - Normal ('p')
Tuesday - 49314 [ 49400 / 48629 ] - Normal Variation (Up)
Wednesday - 49702 [ 49807 / 49325 ] Normal Variation (Up)
Thursday - 50062 [ 50155 / 49771 ] - Normal Variation (Up)
Friday - 50593 [ 50672 / 49891 ] - Normal Variation (Up)
BankNifty opened the week with a narrow range 'p' shape profile on Monday filling up the upper part of previous week's profile as it left an initiative buying tail and saw the buyers coming in aggressively for the rest of the week as they continued to leave singles in the IB and drive higher scaling above the value of last 5 weekly profiles to tag the important VPOC of 50383 from 03rd to 07th Feb and making a look up above the RBI Policy Day Swing high of 50641.
This week's profile is an elongated 2476 point range Trend Up one with completely higher Value at 48196-48375-49915 with a close around the extreme but will need to sustain above the previous Swing High of 50641 for more upside towards the weekly POC of 50851 & the daily one of 51145 before it can test the important sell side extension handle of 52010 whereas on the downside, the HVN of 50470 will be the immediate support along with the extension handle of 50236 below which it can test 21st Mar's buy side level of 50043 and a break of which could up a test of this week's extension handles of 49607, 49400 & 49174.
Click here to view this week’s MarketProfile of BankNifty on Vtrender Charts
24th Mar (Monday) - 51705 [ 51801 / 50795 ] Normal Variation (Up)
25th Mar (Tuesday) - 51608 [ 52064 / 51429 ] Normal Variation (Down)
26th Mar (Wednesday) - 51209 [ 51875 / 51069 ] Neutral Extreme (Down)
27th Mar (Thursday) - 51575 [ 51714 / 51050 ] Normal ('p' shape)
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Up |
|---|
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51601 - POC (27 Mar) 51714 - Spike high (27 Mar) 51831 - Sell tail (26 Mar) 51931 - SOC (25 Mar) 52064 - Swing High (25 Mar) 52160 - M TPO h/b (18 Dec) |
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Down |
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51577 - M TPO h/b (27 Mar) 51484 - PBL (27 Mar) 51382 - 27 Mar Halfback 51269 - A TPO h/b (27 Mar) 51126 - Buy tail (26 Mar) 50984 - A TPO h/b (24 Mar) |
