Nifty Spot Weekly Profile (11th to 15th Mar)
Nifty Spot for the second consecutive week opened with a drive up moving away from previous week’s Value and in doing so got above the previous month’s high of 11118 in the first hour itself to indicate start of a new IPM as it left a buying tail from 11124 to 11035. Nifty then gave a gap up on the next day leaving an extension handle at 11176 & another round of singles from 11168 to 11224 after which the auction balanced over the next 3 days building a HVN at 11336 before giving another gap up on Friday as it left a second extension handle of the week at 11383 to trend higher making a high of 11487 to give a huge 427 point range for the week along with an elongated & trending profile. Nifty did give a retracement at the close as it dipped to 11409 but the close was still bullish as it was above the weekly VAH. This week’s Value is 11244-11336-11414
NF (Weekly Profile)
NF at open this week gave a drive up from previous week’s POC of 11076 to start this week also with a Trend Day. This drive up above the composite ‘p’ meant new initiative buying is coming in after the short covering profile of previous week. The auction then kept trending higher all week to give an elongated triple distribution profile as NF closed in the upper most distribution. The three distributions are seperated by 2 low volumes zones which could act as support in the coming week if auction gets there, the upper one is from 11427 to 11399 and the lower one is at 11247 to 11198. This week’s Value is 11259-11361-11457
BankNifty Spot Weekly Profile (11th to 15th Mar)
BankNifty Spot also opened this week with a drive up above the previous week’s ‘p’ profile confirming initiative activity and BankNifty trended higher all week to give an elongated profile getting above previous all time high of 28389 and rising more than 1000 points above it. The auction left 3 extension handles on the weekly profile at 28035, 28673 & 29070 with immediate support at the singles of 29261 to 29070. The weekly profile has 2 more buying tails from 28819 to 28763 and from 28221 to 28035. The weekly Value is 28130-28895-29255
BNF (Weekly Profile)
BNF began the week by giving a move away from previous week’s Value as it opened with a drive up but ended up with a ‘p’ profile on Monday closing at the dPOC but gave a gap up on Tuesday which was held & this led to a trending move upside as BNF went on to make all time highs as it left a first extension handle of the week at 28133 and continued to trend higher leaving the second extension handle at 28419 as it extented the range higher on Tuesday to spike higher at close. This spike was accepted the next day as BNF first made a balance and then gave another extension handle at 28737 which was the third one of the week and left a buying tail till 28845 above which BNF made another balance while forming a HVN at 28960. The last day of the week saw BNF giving another drive open to the upside as it confirmed the fourth extension handle of the week at 29135 leaving another buying tail from 29135 to 29318 above which the auction made another small balance giving a elongated trending profile for the week. The weekly Value is 28096-28960-29280
