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Nifty Spot: 23519 [ 23869 / 23412 ] Neutral
Previous week’s report ended with this ‘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‘
Monday - 23658 [ 23708 / 23433 ] Normal Variation (Up)
Tuesday - 23668 [ 23869 / 23601 ] Normal Variation (Down)
Wednesday - 23486 [ 23736 / 23451 ] Trend (Down)
Thursday - 23592 [ 23646 / 23412 ] Normal (p shape)
Friday - 23519 [ 23649 / 23450 ] Neutral
The weekly profile is a Neutral One representing a nice Gaussian Curve in a narrow range of just 457 points which was expected after the elongated profile last week as the upside stalled just below the twin extension handles of 23880 & 23911 from 06th Jan causing a close below Value hence looks like is set for a probe lower towards the weekly VPOC of 23343 & daily one at 23049 as long as stays below 23542 whereas on the upside, can do the 80% Rule to 23602 & 23723 if shows buy side confirming above the weekly Value which was completely higher at 23542-23602-2723
Click here to view this week’s MarketProfile of Nifty on Vtrender Charts
01 Apr (Tuesday) - 23165 [ 23565 / 23136 ] Double Distribution (Down)
02 Apr (Wednesday) - 23332 [ 23350 / 23158 ] Normal Variation (Up)
03 Apr (Thursday) - 23250 [ 23306 / 23145 ] Normal ('p' shape)
Up |
|---|
23266 - POC (03 Apr) 23306 - PDH 23342 - Sell tail (02 Apr) 23380 - C TPO h/b (01 Apr) 23448 - SOC (01 Apr) 23500 - B TPO h/b (01 Apr) |
Down |
|---|
23244 - M TPO h/b (03 Apr) 23214 - Buy Tail (03 Apr) 23145 - Buy tail (Apr) 23095 - 20 Mar Halfback 23049 - VPOC (20 Mar) 22982 - Buy Tail (20 Mar) |
BankNifty Spot: 51564 [ 52064 / 50795 ] Normal
Previous week’s report ended with this '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'
Monday - 51705 [ 51801 / 50795 ] Normal Variation (Up)
Tuesday - 51608 [ 52064 / 51429 ] - Normal Variation (Down)
Wednesday - 51209 [ 51875 / 51069 ] Neutral Extreme (Down)
Thursday - 51575 [ 51714 / 51050 ] - Normal (p shape)
Friday - 51564 [ 51839 / 51335 ] - Neutral
BankNifty continued the upside for the first 2 days this week testing that sell side extension handle of 52010 while making a high of 52064 but could not sustain suggesting supply coming back which was confirmed as it left a FA at 51875 the very next day and dropped lower to 51050 before demand came back again to give a close around the prominent weekly POC of 51602 and like Nifty has formed a nice balance profile with completely higher Value at 51449-51604-51774 with the PLR remaining to the downside as long as the FA of 51875 which is coinciding with Apr's RO point is not taken out by initiative buying.
Click here to view this week’s MarketProfile of BankNifty on Vtrender Charts
01 Apr (Tuesday) - 50827 [ 51683 / 50742 ] Normal Variation (Down)
02 Apr (Wednesday) - 51348 [ 51404 / 50908 ] - Normal Variation (Up)
03 Apr (Thursday) - 51597 [ 51661 / 50906 ] - Normal Variation (Up)
Up |
|---|
51597 - Prev Close 51683 - L TPO h/b (28 Mar) 51812 - Sell tail (28 Mar) 51931 - SOC (25 Mar) 52064 - Swing High (25 Mar) 52160 - M TPO h/b (18 Dec) |
Down |
|---|
51595 - M TPO h/b (03 Apr) 51522 - L TPO h/b (03 Apr) 51401 - PBL (03 Apr) 51284 - 03 Apr Halfback 51153 - A TPO h/b (03 Apr) 51054 - B TPO h/b (02 Apr) |
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