Weekly Spot Charts (20th to 24th Jan 2025) and Market Profile Analysis

Nifty Spot: 23092 [ 23426 / 22976 ] Neutral Centre (Outside Bar)

Previous week’s report ended with this ‘The weekly profile is a Neutral Centre one in a very narrow range of 344 points with completely lower Value at 23144-23221-23265 with a very good chance that this balance could lead to an imbalance in the coming week provided Nifty shows initiative sellers below 23100 for a probe towards the weekly VPOC of 22745 & May’s POC of 22481 on the downside whereas in case of buyers stepping in above the daily selling singles of 23269 & 23353, we can look at tagging the weekly VPOC of 23538 and a test of the selling zone from 23800 to 23911 on the upside‘

Monday – 23344 [ 23391 / 23170 ] Double Distribution (Up)

Tuesday – 23024 [ 23426 / 22976 ] Trend (Down)

Wednesday– 23155 [ 23169 / 22981 ] Neutral Extreme (Up)

Thursday– 23205 [ 23270 / 23090 ] Normal (‘p’)

Friday– 23092 [ 23347 / 23050 ] Neutral Extreme (Down)

Nifty began the week with a move away from the prominent 23221 to the upside with a Double Distribution Day testing last week’s high of 23391 and made a higher open on Tuesday which was swiftly rejected from 23426 triggering not just a swipe through previous week’s Value but went on to make a huge 449 point range Trend Down profile hitting new lows for the month at 22976.

The large imbalance then led to a balance being formed on Wednesday as the auction held the lows and formed a Gaussian Curve with a prominent POC at 23095 and left an A period buying tail right there on Thursday getting further into Tuesday’s profile and making a high of 23270 but ended up leaving a ‘p’ shape structure showing no fresh demand coming in. Friday’s opening move above previous high got some supply coming back as seen in the initiative selling tail and a probe into previous A singles but the dreaded C side extension to 23102 resulted in a FA (Failed Auction) being confirmed and resulted in a strong bounce completing the 1 ATR objective of 23338 while making a high of 23347 where it left a responsive selling tail marking the end of the upside paving way to an One Time Frame probe lower for the rest of the day not only revisiting the FA but going on to make new lows of 23050 before settling down at 23092.

The weekly profile is once again a Neutral Centre one which is also an Outside Bar both in terms of range & value which is at 23054-23217-23288 showing that both buyers & sellers held their respective zones but the confirmation of a weekly FA at 23426 and a close below 23170 means that the PLR (Path of Least Resistance) for the coming week could be to the downside provided Nifty sustains below 23054 with the first objective being to repair the poor lows of this week below which the lower weekly VPOC of 22745 will come into play also matching with the 1 ATR target from the weekly FA.

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Hypos for 27th Jan – 23092 [ 23347 / 23050 ] Neutral Extreme (Down)

23116 – K TPO h/b (24 Jan)23158 – POC (24 Jan)23198 – 24 Jan Halfback23242 – SOC (24 Jan)23289 – SOC (24 Jan)23347 – PDH

Down

23091 – M TPO h/b (24 Jan)23054 – Weekly VAL (20-24 Jan)22986 – Buy tail (22 Jan)22954 – B TPO h/b (07 Jun)22904 – Buy Tail (07 Jun)22846 – IB tail mid (07 Jun)

Hypos for 28th Jan – 22829 [ 23007 / 22786 ] Normal Variation (Down)

22865 – POC (27 Jan)22903 – G TPO h/b (27 Jan)22960 – SOC (27 Jan)23005 – Sell Tail (27 Jan)23054 – Weekly VAL (20-24 Jan)23100 – Weekly 1.5 IB

Down

22799 – Buy tail (27 Jan)22745 – VPOC (06 Jun)22692 – VAL (06 Jun)22645 – Poor Low FA (06 Jun)22597 – M TPO h/b (05 Jun)22554 – M TPO low (05 Jun)

Hypos for 29th Jan – 22957 [ 23138 / 22857 ] Neutral

22968 – M TPO h/b (28 Jan)23007 – Weekly IBH23048 – SOC (28 Jan)23092 – SOC (28 Jan)23158 – VPOC (24 Jan)23198 – 24 Jan Halfback

Down

22951 – M TPO low (28 Jan)22892 – POC (28 Jan)22857 – FA (28 Jan)22799 – Buy tail (27 Jan)22745 – VPOC (06 Jun)22692 – VAL (06 Jun)

Hypos for 30th Jan – 23163 [ 23183 / 22976 ] Normal Variation (Up)

23198 – 24 Jan Halfback23242 – SOC (24 Jan)23289 – SOC (24 Jan)23347 – Swing High (24 Jan)23393 – Sell Tail mid (21 Jan)23440 – TPO HVN (10 Jan)

Down

23147 – L TPO h/b (29 Jan)23080 – 29 Jan Halfback23023 – Buy Tail (29 Jan)22973 – IBH (28 Jan)22930 – SOC (28 Jan)22892 – VPOC (28 Jan)

Hypos for 31st Jan – 23249 [ 23322 / 23139 ] Normal

23269 – POC (30 Jan)23339 – Jan Series VWAP23393 – Sell Tail mid (21 Jan)23440 – TPO HVN (10 Jan)23485 – J TPO h/b (10 Jan)23524 – VPOC (10 Jan)

Down

23229 – 30 Jan Halfback23185 – SOC (30 Jan)23138 – VPOC (29 Jan)23080 – 29 Jan Halfback23023 – Buy Tail (29 Jan)22973 – IBH (28 Jan)

Hypos for 01st Feb – 23508 [ 23546 / 23277 ] Trend (Up)

23530 – Sell tail (31 Jan)23596 – 09 Jan Halfback23655 – POC (08 Jan)23706 – M TPO high (08 Jan)23755 – VAH (07 Jan)23805 – D TPO h/b (06 Jan)23855 – Sell zone mid (06 Jan)23911 – Ext Handle (06 Jan)

Down

23498 – M TPO low (31 Jan)23434 – POC (31 Jan)23373 – C TPO h/b (31 Jan)23314 – Buy Tail (31 Jan)23269 – VPOC (30 Jan)23229 – 30 Jan Halfback23185 – SOC (30 Jan)23138 – VPOC (29 Jan)

BankNifty Spot: 48367 [ 49650 / 48074 ] Normal Variation (Down)

Previous week’s report ended with this ‘The weekly profile is a Neutral Centre one with completely lower Value at 48254-48564-48976 which has a good chance of moving back into imbalance mode in the coming week provided it gets some initiative move away from this week’s prominent POC of 48564 with this week’s SOC of 49134 & daily VPOC of 49258 being minor hurdles on the upside as it can aim to probe towards the higher weekly VPOC of 50193 whereas on the downside, the daily VPOC of 48278 & Swing Low of 47898 will be the support levels to watch out for below which we can have a drop down towards the VPOC of 47833 & SOC of 46899 from the important game changer profile of 05th Jun‘

Monday– 49350 [ 49650 / 48683 ] Trend (Up)

Tuesday– 48571 [ 49543 / 48431 ] – Trend (Down)

Wednesday– 48724 [ 48781 / 48074 ] – Neutral

Thursday– 48589 [ 48892 / 48493 ] – Normal (3-1-3)

Friday– 48367 [ 48858 / 48203 ] – Neutral Day

BankNifty opened on Monday with an ORR (Open Rejection Reverse) to the upside and looked like forming a Trend Day Up as it scaled above 49134 & 49258 with ease almost completing the 1 ATR objective of 49672 from the weekly FA of 47898 while making a high of 49650 but left a responsive selling tail in the I TPO which triggered quite a deep retracement to 49295 into the close and was followed by an initiative selling tail on Tuesday confirming reversal and a return back into previous week’s Value forging a Trend Day Down hitting new lows for the week at 48431.

The auction continued the imbalance to the downside with an OTF (One Time Frame) probe on Wednesday till the J period but the lookdown below previous week’s Value could not sustain forcing some profit booking by the sellers along with some short covering of the laggard players notching up the first Neutral Day of the week and the buyers seemed to lose control on Thursday as they made the dreaded C side extension to 48892 and formed a narrow 400 point range Gaussian Curve from sellers made an attempt to take it away with another ORR start on Friday but yet another C side extension down to 48347 resulted in a FA being confirmed on the daily timeframe but the buyers failed to get past 48892 leading to another liquidation drop in the second half and the second Neutral Day of the week.

The weekly profile is a well balanced one forming completely inside Value at 48312-48681-48915 but has left an important cue in terms of a selling tail above previous highs and a close near the VAL that the PLR for the coming week could be to the downside towards the immediate target of 47472 which is the 2 ATR objective from December’s monthly FA of 53888

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Hypos for 27th Jan – 48367 [ 48858 / 48203 ] – Neutral Day

48370 – M TPO h/b (24 Jan)48530 – 24 Jan Halfback48681 – Weekly POC (20-24 Jan)48833 – Sell Tail (24 Jan)48987 – 21 Jan Halfback49121 – B TPO h/b (21 Jan)

Down

48340 – M TPO low (24 Jan)48222 – Buy tail (24 Jan)48074 – Swing Low (22 Jan)47898 – Swing Low (13 Jan)47726 – May POC47588 – F TPO h/b (05 Jun)

Hypos for 28th Jan – 48064 [ 48319 / 47844 ] Normal (Gaussian)

48081 – 27 Jan Halfback48226 – VAH (27 Jan)48370 – M TPO h/b (24 Jan)48530 – 24 Jan Halfback48681 – Weekly POC (20-24 Jan)48833 – Sell Tail (24 Jan)

Down

48041 – VAL (27 Jan)47898 – Jan Buy tail47726 – May POC47588 – F TPO h/b (05 Jun)47472 – 2 ATR (MFA 53888)47308 – D TPO h/b (05 Jun)

Hypos for 29th Jan – 48866 [ 49247 / 48449 ] – Trend (Up)

48885 – M TPO h/b (28 Jan)49038 – SOC (28 Jan)49155 – K TPO h/b (28 Jan)49280 – Sell Tail (21 Jan)49409 – POC (20 Jan)49559 – I TPO h/b (20 Jan)

Down

48848 – 28 Jan Halfback48680 – B TPO h/b (28 Jan)48553 – A TPO h/b (28 Jan)48441 – 4-day VAL (21-24 Jan)48319 – Weekly IBH48160 – VPOC (27 Jan)

Hypos for 30th Jan – 49165 [ 49199 / 48849 ] – Inside Bar

49177 – 2-day VAH (28-29 Jan)49280 – Sell Tail (21 Jan)49409 – POC (20 Jan)49559 – I TPO h/b (20 Jan)49701 – C TPO high (09 Jan)49898 – K TPO h/b (08 Jan)

Down

49165 – M TPO h/b (29 Jan)49024 – 29 Jan Halfback48848 – 28 Jan Halfback48680 – B TPO h/b (28 Jan)48553 – A TPO h/b (28 Jan)48441 – 4-day VAL (21-24 Jan)

Hypos for 31st Jan – 49312 [ 49426 / 49031 ] – Normal Variation (Up)

49342 – VAH (30 Jan)49426 – Spike high (30 Jan)49559 – I TPO h/b (20 Jan)49701 – C TPO high (09 Jan)49898 – K TPO h/b (08 Jan)50024 – Ext Handle (08 Jan)

Down

49247 – POC (30 Jan)49091 – POC (29 Jan)48968 – PBL (29 Jan)48848 – 28 Jan Halfback48680 – B TPO h/b (28 Jan)48553 – A TPO h/b (28 Jan)

Hypos for 01st Feb – 49587 [ 49674 / 49031 ] – Normal Variation (Up)

49607 – M TPO h/b (31 Jan)49720 – Feb 2025 RO Point49898 – K TPO h/b (08 Jan)50024 – Ext Handle (08 Jan)50193 – Weekly VPOC (06-10 Jan)50350 – VPOC (07 Jan)50522 – Ext Handle (06 Jan)50652 – SOC (06 Jan)

Down

49561 – Jan VAH49398 – K TPO h/b (31 Jan)49216 – SOC (31 Jan)49065 – Buy Tail (31 Jan)48968 – PBL (29 Jan)48848 – 28 Jan Halfback48680 – B TPO h/b (28 Jan)48553 – A TPO h/b (28 Jan)