As we look back into the October series, it's been a buyer dominated one and the buyer has stamped his authority through October.
In our last post – http://vtrender.com/content/september-series-charts, we had noted the September series vwap to be around 5734 for the expiring Fut or roughly 5700 in the spot.
That happened to be the low of this current series.
As we move into November the current vwap is at 6035 in cash.
As Profilers we know the market's medium term trend will not change till we get a close below this number.
Keep an eye out for 6035 through November.
We also note 6090 as a high volume node which marks the place where the maximum interest lay this series.
Above vwap, this would be the level the Buyer will first try to defend.
BankNifty :
This is a chart of the bankNifty cash index.
By virtue of that move on RBI day, the BN finds itself trading above monthly developing value and POC.
Vwap is at 10480 which looks like a short term base now for the medium term.
Supports for any major fall would be 10800 now.