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Nifty Spot: 24853 [ 25063 / 24462 ] Trend (Down)
Previous week’s report ended with this ‘The weekly profile is a Normal Variation one with an initiative buying tail from 24494 to 24378 and completely higher Value at 24543-24717-24821 and seems to have given a fresh move away from the initial 3 and half days balance it was forming so can expect further inroads into the weekly profile from 30th Sep to 04th Oct 2024 with the singles zone from 25640 & VPOC of 25810 being the objectives in the coming week(s) whereas on the downside, staying below 25012 we can expect it to fill up the zone till 24717‘
Monday - 24945 [ 25063 / 24916 ] Neutral Extreme (Down)
Tuesday - 24684 [ 25010 / 24669 ] Trend (Down)
Wednesday - 24813 [ 24946 / 24685 ] Neutral Centre
Thursday - 24609 [ 24737 / 24462 ] Normal Variation (Down)
Friday - 24853 [ 24909 / 24614 ] Normal Variation (Up)
Nifty has formed a well balanced weekly profile which was shaping to be a Trend one to the downside after it confirmed a FA (Failed Auction) on Monday at 25063 and almost completed the 2 ATR objective of 24454 but the test of previous week's initiative buying tail got demand coming back resulting in a responsive buying tail from 24509 to 24462 and a move back to 24909 on Friday. Though this week's range was completely inside, Value was overlapping to higher at 24674-24891-25008 and has a good chance of moving away from here to the upside revisiting the FA and making new highs for the month into the close.
Click here to view this week’s MarketProfile of Nifty on Vtrender Charts
26 May (Monday) - 25001 [ 25079 / 24900 ] Normal
27 May (Tuesday) - 24826 [ 25063 / 24704 ] Neutral Centre
28 May (Wednesday) - 24752 [ 24864 / 24737 ] Normal (Inside Bar)
29 May (Thursday) - 24833 [ 24892 / 24677 ] Neutral
Up |
|---|
24864 - M TPO h/b (29 May) 24908 - SOC (27 May) 24977 - Sell tail (27 May) 25020 - Sell tail mid 25079 - Swing High (26 May) 25125 - 1 ATR (24833) |
Down |
|---|
24833 - M TPO low (29 May) 24784 - 29 May Halfback 24717 - PBL (29 May) 24670 - NeuX VWAP (May) 24601 - VPOC (22 May) 24541 - VAL (22 May) |
BankNifty Spot: 55398 [ 55695 / 54577 ] Normal Variation (Down)
Previous week’s report ended with this 'BankNifty formed a Neutral weekly profile with overlapping to higher Value at 54909-55279-55383 so will need an initiative move away from this week's prominent POC of 55279 for a fresh imbalance to emerge in the coming week'
Monday - 55420 [ 55695 / 55296 ] Normal Variation (Up)
Tuesday - 54877 [ 55568 / 54829 ] Normal Variation (Down)
Wednesday - 55075 [ 55336 / 54690 ] Neutral Centre
Thursday - 54941 [ 54996 / 54577 ] Neutral Extreme (Up)
Friday - 55398 [ 55441 / 54854 ] Normal Variation (Up)
BankNifty opened with a move away from previous week's POC of 55279 and went on to look up above the highs of 55499 while tagging 55695 stalling just below the selling tail of 02nd May indicating return of aggressive supply resulting in a trending move lower for the next 3 sessions as it completed the 80% Rule in the weekly value and went on to make similar lows just above the PBH of 54570 suggesting demand coming in. The auction then made a good bounce back to 55441 on Friday forming a well balanced weekly profile with outside Value at 54820-55396-55446 with a close right at the POC which will be the opening reference for the next week for a move away.
Click here to view this week’s MarketProfile of BankNifty on Vtrender Charts
26 May (Monday) - 55572 [ 55875 / 55307 ] Normal Variation (Down)
27 May (Tuesday) - 55352 [ 55831 / 55037 ] Normal Variation (Up)
28 May (Wednesday) - 55417 [ 55521 / 55235 ] Normal (Inside Bar)
29 May (Thursday) - 55546 [ 55782 / 55096 ] Neutral
Up |
|---|
55546 - M TPO low (29 May) 55673 - M TPO h/b (27 May) 55831 - Sell tail (May) 55957 - Sell tail mid (Apr) 56099 - ATH (22 Apr) 56209 - 1 ATR (55594) |
Down |
|---|
55521 - SOC (29 May) 55394 - L TPO h/b (29 May) 55257 - POC (29 May) 55124 - Buy tail (29 May) 55002 - Buy Tail (23 May) 54848 - L TPO h/b (22 May) |
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