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Nifty Spot: 24426 [ 25021 / 244404 ] Neutral Extreme (Down)
Previous week’s report ended with this ‘The weekly profile was a Normal Variation one to the upside with completely higher Value at 24865-24923-25027 mainly because of the gap up as it retraced all of the upside it made during the week to close around the VAL so staying below it, Nifty could fill up the gap zone with 24784 being an important support below which it could give a test of 24649 & 24530 whereas on the upside, it will need to get above this week's prominent POC of 24923 above which 25035 & 25098 would be the bigger hurdles for the buyer to take out for a retest of 25144 and then a test of 24th Jul's selling tail as we get into the 'Bappa week' and the monthly expiry'
25 Aug (Monday) - 24967 [ 25022 / 24894 ] Neutral
26 Aug (Tuesday) - 24712 [ 24919 / 24689 ] Long Liquidation ('b' shape)
27 Aug (Wednesday) - Holiday
28 Aug (Thursday) - 24500 [ 24702 / 24481 ] Normal
29 Aug (Friday) - 24426 [ 24572 / 24404 ] Neutral Extreme (Down)
Nifty has formed a Neutral Extreme (NeuX) profile to the downside on the weekly timeframe confirming a FA (Failed Auction) at Monday's high of 25021 as it not only negated the daily FA of 24894 of same day with an extension handle but went on to leave couple more at 24741 & 24689 as it completed the 1 ATR objective of 24536 on Thursday and saw the buyers fail again on Friday as the attempted RE (Range Extension) resulted in another daily FA being confirmed at 24572 with a close around the lows of 24404. Value for the week was completely lower at 24496-24806-24838 and needs to be seen if the NeuX gives a follow through or a bounce in the coming week.
Click here to view this week’s MarketProfile of Nifty on Vtrender Charts
01 Sep (Monday) - 24625 [ 24635 / 24432 ] Double Distribution (Up)
02 Sep (Tuesday) - 24579 [ 24756 / 24522 ] Neutral Extreme (Down)
03 Sep (Wednesday) - 24715 [ 24737 / 24533 ] Normal Variation (Up)
04Sep (Thursday) - 24734 [ 24980 / 24708 ] Trend (Down)
Up |
|---|
24734 - Prev Close 24782 - SOC (04 Sep) 24838 - PBH (04 Sep) 24877 - B TPO h/b (04 Sep) 24919 - Sell Tail (04 Sep) 24980 - Monthly IBH (Sep) |
Down |
|---|
24705 - M TPO low (03 Sep) 24649 - Ext Handle (03 Sep) 24593 - PBL (03 Sep) 24551 - Buy Tail (03 Sep) 24522 - Buy Tail (Sep) 24481 - 3-day VAL (28Aug-01Sep) |
BankNifty Spot: 53655 [ 55306 / 53606 ] Triple Distribution (Down)
Previous week’s report ended with this 'This week's profile is a Double Distribution one to the downside which made completely higher Value at 55631-55780-55943 but left an extension handle at 55577 along with a zone of singles till 55475 which will be the swing supply zone for the coming week if it is able to get above the immediate hurdle of 55318 whereas on the downside, staying below Friday's spike can bring a test of 22nd May's VPOC of 54648 and 08th singles from 54342'
25 Aug (Monday) - 55139 [ 55306 / 55048 ] Normal
26 Aug (Tuesday) - 54450 [ 55068 / 54396 ] Long Liquidation ('b' shape)
27 Aug (Wednesday) - Holiday
28 Aug (Thursday) - 53820 [ 54382 / 53768 ] Normal Variation (Down)
29 Aug (Friday) - 53655 [ 54086 / 53606 ] Neutral Extreme (Down)
BankNifty made a weak start staying below the hurdle of 55318 on Monday and went on to form a Triple Distribution Trend Down profile this week with extension handles at 55048 & 54396 leaving an elongated structure of 1700 points with completely lower Value at 53824-54607-54735 along with a close around the lows so can expect the imbalance to continue towards the buy side extension handles of 53168 & 52818 (15-17 Apr) in the coming week
Click here to view this week’s MarketProfile of BankNifty on Vtrender Charts
01 Sep (Monday) - 54002 [ 54035 / 53658 ] Normal
02 Sep (Tuesday) - 53661 [ 54160 / 53578 ] Double Distribution (Down)
03 Sep (Wednesday) - 54067 [ 54136 / 53561 ] Normal Variation (Up)
04Sep (Thursday) - 54075 [ 54450 / 53971 ] Normal Variation (Down)
Up |
|---|
54075 - Prev Close 54175 - PBH (04 Sep) 54318 - B TPO h/b (04 Sep) 54450 - Monthly IBH (04 Sep) 54606 - VPOC (26 Aug) 54732 - 26 Aug Halfback |
Down |
|---|
54038 - M TPO low (04 Sep) 53921 - K TPO tail (03 Sep) 53810 - J TPO h/b (03 Sep) 53685 - VPOC (03 Sep) 53578 - Buy tail (Sep) 53483 - Swing Low (09 May) |
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