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Nifty Spot: 23813 [ 23938 / 23647 ] Normal (Inside Bar)
Previous week’s report ended with this ‘Nifty has formed an elongated 1244 point range Triple Distribution Trend Down weekly profile with extension handles at 24601, 24149 & 23796 and a close with a spike from 23676 to 23537 which will be the immediate zone to watch for in the coming week. Value was completely lower at 23537-23956-24263 with a TPO HVN in the top most balance at 24657 which will now be a Swing Supply point along with nearer HVNs of 24231 & 24394 whereas on the downside, the HVN of 23459 will the the immediate support‘
Monday – 23753 [ 23869 / 23647 ] Neutral Centre
Tuesday – 23727 [ 23867 / 23685 ] Neutral (Double Inside Day)
Wednesday– Holiday
Thursday– 23750 [ 23854 / 23653 ] Normal Variation (Down)
Friday– 23813 [ 23938 / 23800 ] Normal
Nifty opened the week with a 150 point gap up rejecting the spike close but stalled just below the daily extension handle of 23870 from where it reversed the probe to the downside taking support at 23647 forming a Neutral Centre Day with a close right at the prominent POC at 23754 signalling return to balance and remained in this narrow 222 point range for Tuesday & Thursday building more TPOs at 23750 where the weekly settlement also was pinned by the option players.
The auction made a move away from this 3-day Gaussian with an Open Drive Up on Friday scaling above 23870 and tagging 20th Dec’s VPOC of 23921 which is also the RO (RollOver) point for the Jan 2025 series but made the dreaded C side extension to 23938 stopping just below previous week’s POC of 23956 marking the end of the upmove negating the drive and falling back to 23801 into the close holding just above the 3-day VAH of 23799.
The weekly profile post previous week’s enormous 1244 point range Trend Down profile was an Inside one in a narrow 292 point range balance with Value also being completely inside at 23715-23747-23836 which has stalled right below previous POC of 23956 indicating that the imbalance to the downside may continue in the coming week if Nifty stays below 23799 for a probe first to 23681 & 23524 below which it can drop futher to 23459 & 23339 which is a lower weekly VPOC from 18th to 22nd Nov whereas on the upside, above 23956 it can go for a tag of 24051 & 24147 with the higher target being 18th Dec’s VPOC of 24231.
Click here to view this week’s MarketProfile of Nifty on Vtrender Charts
| Up |
| 23822 – M TPO h/b (27 Dec)23854 – J TPO h/b (27 Dec)23899 – D TPO h/b (27 Dec)23956 – Weekly VPOC (16-20 Dec)23994 – PBH (20 Dec)24051 – Sell Tail (20 Dec) |
| Down |
| 23800 – IBL (27 Dec)23747 – VPOC (26 Dec)23681 – 1 ATR (PDH 23938)23647 – Prev Week Low23615 – 1 ATR (yPOC 23844)23571 – 1 ATR (PDL) |
| Up |
| 23648 – M TPO h/b (30 Dec)23698 – 6-day VAL (20-30 Dec)23747 – 6-day POC (20-30 Dec)23790 – SOC (30 Dec)23844 – SOC (30 Dec)23885 – Sell tail (30 Dec) |
| Down |
| 23630 – Weekly IBL23571 – 1 ATR (23800)23524 – VPOC (22 Nov)23488 – Weekly 1.5 IB23459 – TPO HVN (18-22 Nov)23408 – Buy Tail (22 Nov) |
| Up |
| 23653 – M TPO h/b (31 Dec)23698 – 6-day VAL (20-30 Dec)23747 – 6-day POC (20-30 Dec)23790 – SOC (30 Dec)23844 – SOC (30 Dec)23885 – Sell tail (30 Dec) |
| Down |
| 23637 – M TPO low (31 Dec)23591 – POC (31 Dec)23555 – SOC (31 Dec)23510 – Ext Handle (31 Dec)23459 – TPO HVN (18-22 Nov)23408 – Buy Tail (22 Nov) |
| Up |
| 23756 – POC (01 Jan)23797 – Sell tail (01 Jan)23844 – SOC (30 Dec)23885 – Sell tail (30 Dec)23915 – Weekly IBH23956 – Weekly VPOC (16-20 Dec)23994 – PBH (20 Dec) |
| Down |
| 23742 – Close (01 Jan)23692 – 01 Jan Halfback23648 – SOC (01 Jan)23591 – POC (31 Dec)23555 – SOC (31 Dec)23510 – Ext Handle (31 Dec)23459 – TPO HVN (18-22 Nov) |
| Up |
| 24193 – Sell tail (02 Jan)24231 – VPOC (18 Dec)24272 – 18 Dec Halfback24313 – PBH (18 Dec)24343 – SOC (18 Dec)24394 – VPOC (17 Dec)24463 – 17 Dec halfback |
| Down |
| 24188 – Prev Close24153 – Ext Handle (02 Jan)24091 – Ext Handle (02 Jan)24036 – G TPO tail (02 Jan)23989 – 02 Jan Halfback23957 – POC (02 Jan)23915 – PBL (02 Jan) |
BankNifty Spot: 51311 [ 51740 / 50951 ] Neutral Centre
Previous week’s report ended with this ‘The weekly profile was expected to be a Trending One but the magnitude of the fall was huge as BankNifty formed an elongated 3130 points range which is the largest one after 11th March 2022 (except for the June 2024 one which was due to the big election results day range) with completely overlapping Value at 52939-53453-53738 and has left extension handles at 53355 & 52010 along with a zone of singles till 51718 & a HVN at 51480 which will be the start of the main supply zone for the coming week‘
Monday– 51317 [ 51417 / 51030 ] Normal (Inside Bar)
Tuesday– 51233 [ 51382 / 51137 ] – Normal (Double Inside)
Wednesday– Holiday
Thursday– 51170 [ 51740 / 50951 ] – Normal Variation (Down)
Friday– 51311 [ 51628 / 51240 ] – Normal
It was a return back to balance as BankNifty caught its breath after previous week’s gigantic 3130 point range elongated profile starting the week with back to back Normal Days on Monday & Tuesday with the latter being a Double Inside Bar within a range of just 245 points building a prominent 3-day POC at 51224 where it closed and saw an attempt to move away with a gap up and a drive to 51740 stalling just below January’s RO point of 51750 plus what was the selling zone of previous week (51718 to 52044) as initiative sellers came back strongly not only leaving an A period tail but making new lows for the week at 50951 where it saw some profit booking and a return back to the balance as it closed above the dPOC of 51137.
The auction saw a higher open on Friday and continued to rise in the B TPO as it tested previous day’s selling tail but got rejected at 51628 marking the end of the upside after which it negated the strong open and made attempts to extend lower but saw some demand coming back around the 51224 zone forming yet another Normal Day for the week.
The weekly profile is a classic Neutral Centre One plus a 3-1-3 set up which range wise was a narrow one of just 788 points and completely inside previous week but has formed lower Value at 51129-51224-51344 looking set to resume the downside imbalance in the coming week provided it stays below 51129 & negates the lower singles from 51030 to 50951 for a probe towards the small responsive tail from 50686 to 50609 from last week and a break of that can trigger that fresh drop to the lower weekly VPOCs of 50371 & 49732 whereas on the upside, BankNifty will need to get some initiative buying above 51344 in order to negate the selling tail from 51628 & take out 51750 for a test of the daily VPOCs of 52289 & 52840 from 18th & 17th December respectively.
Click here to view this week’s MarketProfile of BankNifty on Vtrender Charts
| Up |
| 51325 – M TPO h/b (27 Dec)51434 – 27 Dec Halfback51524 – SOC (27 Dec)51628 – Weekly sell tail (23-27 Dec)51740 – Prev week high51821 – 1 ATR (VPOC 51137)51906 – Sell Tail mid (19 Dec) |
| Down |
| 51307 – POC (27 Dec)51224 – Weekly POC (23-27 Dec)51137 – VPOC (26 Dec)51030 – Weekly buy tail (23-27 Dec)50902 – Gap mid (23 Dec)50801 – M TPO h/b (20 Dec)50686 – Buy Tail (20 Dec) |
| Up |
| 50994 – M TPO h/b (30 Dec)51110 – 6-day VAL (20-30 Dec)51220 – 6-day POC (20-30 Dec)51349 – 30-Dec Halfback51474 – 6-day VAH (20-30 Dec)51586 – G TPO h/b (30 Dec) |
| Down |
| 50898 – M TPO low (30 Dec)50755 – Weekly IBL50686 – Buy Tail (20 Dec)50558 – IB tail mid (22 Nov)50441 – VPOC (21 Nov)50318 – L TPO h/b (21 Nov) |
| Up |
| 50879 – M TPO h/b (31 Dec)50994 – M TPO h/b (30 Dec)51110 – 6-day VAL (20-30 Dec)51220 – 6-day VPOC (20-30 Dec)51349 – 30-Dec Halfback51474 – 6-day VAH (20-30 Dec) |
| Down |
| 50851 – POC (31 Dec)50758 – PBL (31 Dec)50626 – Buy Tail mid (31 Dec)50476 – M TPO high (21 Nov)50371 – Weekly VPOC (18-22 Nov)50249 – PBL (21 Nov) |
| Up |
| 51077 – M TPO h/b (01 Jan)51199 – K TPO h/b (01 Jan)51349 – 30-Dec Halfback51463 – VPOC (30 Dec)51586 – G TPO h/b (30 Dec)51745 – SOC (30 Dec) |
| Down |
| 51031 – M TPO low (01 Jan)50903 – 01 Jan Halfback50771 – SOC (01 Jan)50663 – B TPO h/b (01 Jan)50526 – Buy Tail mid (01 Jan)50371 – Weekly VPOC (18-22 Nov) |
| Up |
| 51626 – M TPO high (02 Jan)51745 – SOC (30 Dec)51895 – Sell tail (01 Jan)52044 – Closing tail (18 Dec)52160 – M TPO h/b (18 Dec)52289 – VPOC (18 Dec)52419 – 18 Dec Halfback |
| Down |
| 51585 – M TPO low (02 Jan)51442 – I TPO tail (02 Jan)51322 – Daily Ext Handle51186 – POC (02 Jan)51045 – Buy Tail (02 Jan)50903 – 01 Jan Halfback50771 – SOC (01 Jan) |
