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Nifty Spot: 24750 [ 25079 / 24677 ] Normal Variation (Down)
Previous week’s report ended with this ‘Nifty has formed a well balanced weekly profile which was shaping to be a Trend one to the downside after it confirmed a FA (Failed Auction) on Monday at 25063 and almost completed the 2 ATR objective of 24454 but the test of previous week's initiative buying tail got demand coming back resulting in a responsive selling tail from 24509 to 24462 and a move back to 24909 on Friday. Though this week's range was completely inside, Value was overlapping to higher at 24674-24891-25008 and has a good chance of moving away from here to the upside revisiting the FA and making new highs for the month into the close‘
Monday - 25001 [ 25079 / 24900 ] Normal
Tuesday - 24826 [ 25063 / 24704 ] Neutral Centre
Wednesday - 24752 [ 24864 / 24737 ] Normal (Inside Bar)
Thursday - 24833 [ 24892 / 24677 ] Neutral
Friday - 24750 [ 24864 / 24717 ] Normal Variation (Down)
Nifty started with a Drive Up on Monday as it went on to revisit the FA of 25063 while making a high of 25079 but left an important selling tail after which it got back into previous week's Value and completed the 80% Rule by making a low of 24677 on Thursday before closing the week with a 4-day composite with value at 24733-24761-24831 and looks set to give a move away from this prominent POC. The weekly profile was a Normal Variation one to the downside forming completely inside Value at 24717-24761-24875 and needs an initiative move away from 24761 in the coming week to start a fresh imbalance.
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02 Jun (Monday) - 24716 [ 24754 / 24526 ] Normal (3-1-3)
03 Jun (Tuesday) - 24542 [ 24845 / 24502 ] Normal Variation (Down)
04 Jun (Wednesday) - 24620 [ 24644 / 24530 ] Normal Variation (Up)
05 Jun (Thursday) - 24751 [ 24899 / 24613 ] Normal Variation (Up)
Up |
|---|
24756 - 05 Jun Halfback 24801 - H TPO h/b (05 Jun) 24849 - G TPO h/b (05 Jun) 24908 - SOC (27 May) 24977 - Sell tail (27 May) 25020 - Sell tail mid (27 May) |
Down |
|---|
24739 - Weekly IBL 24673 - 3-day VAH (02-04 Jun) 24593 - VPOC (04 Jun) 24547 - 3-day VAH (02-04 Jun) 24502 - Swing Low (03 Jun) 24462 - Swing Low (22 May) |
BankNifty Spot: 55749 [ 55875 / 55037 ] Normal (Gaussian Curve)
Previous week’s report ended with this 'BankNifty formed a well balanced weekly profile with outside Value at 54820-55396-55446 with a close right at the POC which will be the opening reference for the next week for a move away'
Monday - 55572 [ 55875 / 55307 ] Normal Variation (Up)
Tuesday - 55352 [ 55831 / 55037 ] Normal Variation (Up)
Wednesday - 55417 [ 55521 / 55235 ] Normal (Inside Bar)
Thursday - 55546 [ 55782 / 55096 ] Neutral
Friday - 55749 [ 55813 / 55356 ] Neutral Extreme (Up)
BankNifty made an attempt to move away to the upside from previous week's Value with an Open Drive Up on Monday but failed to sustain triggering a move back into previous Value and remained narrow range all week forming a nice Gaussian Curve with overlapping to higher Value at 55246-55462-55628 with a close above VAH so can give a move away to imbalance in the coming week where we have the important RBI policy also due.
Click here to view this week’s MarketProfile of BankNifty on Vtrender Charts
02 Jun (Monday) - 55903 [ 55966 / 55400 ] Normal Variation (Up)
03 Jun (Tuesday) - 55599 [ 56161 / 55455 ] (Down)
04 Jun (Wednesday) - 55676 [ 55791 / 55408 ] Normal (Inside Bar)
05 Jun (Thursday) - 55760 [ 56010 / 55580 ] Normal Variation (Up)
Up |
|---|
55853 - 5-day VAH (30May-05Jun) 55972 - Sell tail (05 Jun) 56088 - Sell Tail mid (03 Jun) 56259 - 1 ATR (yPOC 55731) 56381 - 1 ATR (55853) 56542 - Monthly 1.5 IB |
Down |
|---|
55722 - 5-day POC (30May-05Jun) 55582 - 5-day VAL (30May-05Jun) 55408 - Swing Low (04 Jun) 55257 - VPOC (29 may) 55124 - Buy tail (29 May) 55002 - Buy Tail (23 May) |
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