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Nifty Spot: 24654 [ 25331 / 24629 ] Trend (Down)
Previous week’s report ended with this ‘The weekly profile is a Triple Distribution Trend Up one with completely higher Value at 25244-25333-25448 with couple of extension handles at 25140 & 25254 which will be the immediate supports for the coming week whereas on the upside, Nifty will need to sustain above this week's prominent POC of 25333 to continue towards the daily VPOC of 25525 from 09th Jul and the FA of 25587 from 03rd as the immediate objectives'
22 Sep (Monday) - 25202 [ 25331 / 25151 ] Normal Variation (Down)
23 Sep (Tuesday) - 25169 [ 25261 / 25084 ] Neutral Centre
24 Sep (Wednesday) - 25056 [ 25149 / 25027 ] Normal
25 Sep (Thursday) - 24890 [ 25092 / 24878 ] Trend (Down)
26 Sep (Friday) - 24654 [ 24868 / 24629 ] Trend (Down)
Nifty opened below previous week's Value on Monday negating the first extension handle of 25254 but was swiftly rejected resulting in a move back to 25331 in the Initial Balance (IB) stalling just below the reference of 25333 indicating upside getting capped which got further confirmed by a RE (Range Extension) lower into the close and was followed by an imbalance for the rest of the week as it formed continuously lower value on daily not only getting back into the weekly Value from 08th to 12th Sep but breaking below the weekly VPOCs of 24857 & 24736 negating the FA of 24751 and hitting a low of 24629.
The weekly profile is a Trend One to the downside in an elongated range of 702 points with mostly lower Value at 24946-25074-25294 and has left couple of extension handles at 24949 & 24881 with a spike close from 24703 to 24629 which will be the zone to watch in the coming week staying below which the downside can continue towards the buying singles of 24503 (01-05 Sep) & the weekly halfback of 24231 (05-09 May).
Click here to view this week’s MarketProfile of Nifty on Vtrender Charts
29 Sep (Monday) - 24634 [ 24791 / 24606 ] Neutral Extreme (Down)
30 Sep (Tuesday) - 24611 [ 24691 / 24587 ] Normal Variation (Down)
01 Oct (Wednesday) - 24836 [ 24868 / 25605 ] Trend (Up)
Up |
|---|
24836 - M TPO h/b (01 Oct) 24881 - Weekly Ext Handle 24932 - Ext Handle (25 Sep) 24982 - VPOC (25 Sep) 25015 - E TPO h/b (25 Sep) 25060 - Sell Tail (25 Sep) |
Down |
|---|
24812 - Ext Handle (01 Oct) 24774 - POC (01 Oct) 24737 - 01 Oct Halfback 24677 - D TPO h/b (01 Oct) 24617 - Buy Tail (01 Oct) 24585 - VPOC (03 Sep) |
BankNifty Spot: 54389 [ 55666 / 54311 ] Triple Distribution (Down)
Previous week’s report ended with this 'The weekly profile is a Neutral Extreme one to the upside with a FA at lows of 54777 and has formed completely higher Value at 55125-55414-55833 with 2 extension handles at 55048 & 55185 which will be the zone buyers will need to hold to continue the upside towards the higher weekly VPOC of 56187 in the coming week'
22 Sep (Monday) - 55284 [ 55666 / 55215 ] Neutral Extreme (Down)
23 Sep (Tuesday) - 55509 [ 55662 / 55159 ] Double Distribution (Up)
24 Sep (Wednesday) - 55121 [ 55511 / 55040 ] Normal Variation (Down)
25 Sep (Thursday) - 54976 [ 55276 / 54903 ] Neutral Extreme (Down)
26 Sep (Friday) - 24654 [ 24868 / 24629 ] Trend (Down)
BankNifty also opened lower but confirmed an ORR (Open Rejection Reverse) start scaling above the weekly POC of 55414 and making a high of 55620 in the IB but followed with a typical C side extension of 55666 which not only was swiftly rejected but went on to get established as a FA (Failed Auction) signalling the failure of buyers and promptly went on to complete the 1 ATR target of 55270 while making a low of 55215 and continued this with lower lows of 55159 on Tuesday in the IB but held the extension handle of 55185 and got into an OAOR which in turn triggered a probe higher in the G TPO and a Double Distribution (DD) profile making a high of 55662 stalling just below the FA.
The auction then not only negated the DD zone on Wednesday but left an initiative selling tail repairing the poor lows while testing the lower extension handle of 55048 as it hit 55040 and got back into balance mode for most part on Thursday inside previous Value but the attempt to extend higher in the H TPO resulted in another FA getting confirmed at 55276 and a fresh imbalance saw the 1 ATR target of 54887 almost getting tagged into the close with the downside continuing on Friday with a lower open and another A period singles completing the 2 ATR objective of 54498 and leaving an extension handle right there to drop further to 55311 into the close.
The weekly profile is a Triple Distribution Trend one to the downside with overlapping to lower Value at 55025-55122-55560 with 2 important sell side extensions at 54993 & 54499 which will be the levels to watch on the upside in the coming week whereas below this week's low of 54311, BankNifty could go for a test of the weekly VPOC of 54178 and the important support of 53988 & a break of which could trigger a revisit of the weekly FA of 53561.
Click here to view this week’s MarketProfile of BankNifty on Vtrender Charts
29 Sep (Monday) - 54461 [ 54686 / 54226 ] Neutral
30 Sep (Tuesday) - 54635 [ 54793 / 54503 ] Normal (3-1-3)
01 Oct (Wednesday) - 55348 [ 55406 / 54582 ] Trend (Up)
Up |
|---|
55390 - M TPO high (01 Oct) 55527 - VPOC (23 Sep) 55666 - FA (22 Sep) 55770 - VPOC (18 Sep) 55835 - Swing High (18 Sep) 55943 - VAH (18-22 Aug) |
Down |
|---|
55338 - POC (01 Oct) 55179 - E TPO tail (01 Oct) 55080 - Ext Handle (01 Oct) 54994 - 01 Oct Halfback 54855 - C side low (01 Oct) 54726 - A TPO h/b (01 Oct) |
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