Monthly (Apr 2019) charts and Market Profile analysis

Nifty Spot

Monthly Profile (Apr)

After the imbalance of the previous month where we had an elongated profile, Nifty stayed in a narrow range of just 307 points in April which was the narrowest monthly range since June 2017. The auction made new all time highs this month but saw some rejection there as it left a small selling tail on the monthly profile from 11811 to 11856. Nifty made a balance this month forming a nice Gaussian profile on the monthly and looks set to give a good move again in the month of May. The Value for the month was overlapping to higher with a prominent POC at 11656 for April which will be an important level to watch in the coming month. There is a possibility of having a multi-month FA in Nifty at either 11624 or 11763 and if the former is confirmed opens up the possibility of an upside of 12201 & 12778. However if the latter gets confirmed, the PLR (Path of Least Resistance) would be to the downside for targets of 11186 & 10609. The Monthly Value is 11576-11656-11720.

N Monthly Monthly (Apr 2019) Charts And Market Profile Analysis Banknifty Futures, Charts, Day Trading, Intraday Trading, Intraday Trading Strategies, Market Profile, Market Profile Trading Strategies, Nifty Futures, Order Flow Analysis, Support And Resistance, Technical Analysis, Trading Strategies, Volume Profile Trading

Monthly Zones:

The vwap of the April series is at 11641 spot and the POC is at 11656
The settlement day (May) rollover volume point is at 11878 F.

The vwap of the March series is at 11327 spot and the POC is at 11448
The settlement day (Apr) rollover volume point is at 11673 F.

The vwap of the February series is at 10830 spot and the POC is at 10856
The settlement day (Mar) rollover volume point is at 10860 F.

The vwap of the January series is at 10795 spot and the POC is at 10823
The settlement day (Feb) rollover volume point is at 10676 F.

The vwap of the December series is at 10796 spot and the POC is at 10741
The settlement day (Jan) rollover volume point is at 10830 F.

The vwap of the November series is at 10486 spot and the POC is at 10583
The settlement day (Dec) rollover volume point is at 10873 F.


BankNifty Spot

Monthly Profile (Apr)

BankNifty started April with a gap up continuing the trend up of previous month where it had given a 3570 point range from 26929 to 30499 and make new all time highs of 30648 on 1st April but was not able to sustain the new high and got back into the previous month’s range giving an Open Rejection Reverse (ORR) start on the monthly time frame. The auction made another attempt to get back above previous month’s highs but was again rejected as it left a new swing high at 30602 and this confirmed that the PLR was to the downside as BankNifty then probed lower and the monthly ORR meant that the first objective would be previous month’s POC of 29778 which was tagged on 8th April. The auction continued lower for that week as it left a swing low of 29640 from where BankNifty reversed and gave a huge short covering move to retrace the entire fall as it closed above the previous month high on 16th April. BankNifty then gave a gap up open at new all time highs tagging 30669 on the 18th as it repaired the poor highs of 1st April but was swiftly rejected from there to leave a big selling tail from 30669 to 30481 to again confirm a reversal in the auction to the downside. The auction then trended lower for the next 3 days confirming a monthly FA in BankNifty at top and went on to make new lows for the month at 29435 on 24th April where it confirmed a FA on daily to signal the end of this leg of the auction lower. BankNifty then tagged the 1 ATR move up of 29857 on the same day & left a new swing high of 30057 on 25th April where it was again met with swift rejection as the auction retraced the entire move up of 29435 to 30057 spiking into the close as it made a low of 29512. The next day however BankNifty got accepted in this spike and went on to confirm a new FA at 29563 before it gave yet another wild move to the upside tagging the 1 ATR move of 29987 on the same day as it spiked higher into the close. The last day of the month saw a gap down along with a drive lower as the auction checked that FA of 29563 and found support there as BankNifty closed below the prominent monthly POC of 29850 and has made a balanced profile with the Monthly Value at 29650-29850-30270 which was inside previous month’s Value. The first resistance on the upside in the coming month would be 29850 above which BankNifty could probe higher to 29970 & 30040-60. Sustaining above 30060 could bring 30270 & 30370 which are probable positional resistance levels now. On the downside, BankNifty stays weak below 29850 with initial support at 29650. Break of 29650-620 zone can lead to a test of the FAs of 29563 & 29435 which if broken could trigger a fresh leg lower in BankNifty for targets of 29241 & 29017 with a chance of tagging the 1 ATR move down of 28903 from the monthly FA.

Bn Monthly Monthly (Apr 2019) Charts And Market Profile Analysis Banknifty Futures, Charts, Day Trading, Intraday Trading, Intraday Trading Strategies, Market Profile, Market Profile Trading Strategies, Nifty Futures, Order Flow Analysis, Support And Resistance, Technical Analysis, Trading Strategies, Volume Profile Trading

Monthly Zones:

The vwap of the April series is at 30037 spot and the POC is at 29850
The settlement day (Apr) rollover volume point is at 29760 F.

The vwap of the March series is at 29061 spot and the POC is at 29778
The settlement day (Apr) rollover volume point is at 30500 F.

The vwap of the February series is at 27042 spot and the POC is at 26978
The settlement day (Mar) rollover volume point is at 26965 F.

The vwap of the January series is at 27236 spot and the POC is at 27514
The settlement day (Feb) rollover volume point is at 27332 F.

The vwap of the December series is at 26713 spot and the POC is at 26840
The settlement day (Jan) rollover volume point is at 27035 F.

The vwap of the November series is at 25686 spot and the POC is at 26218
The settlement day (Dec) rollover volume point is at 26880 F.