Nifty Spot – 17132 [ 17153 / 15834 ]
Monthly Profile (August 2021)
Previous month’s report ended with this ‘Nifty closed as a Neutral Centre Month with an almost same open & close once again forming a Gaussian profile with slightly higher to overlapping Value at 15701-15804-15883
Nifty opened the month with one of the most narrowest range daily range of just 58 points on 02nd Aug as it formed a balance just above the previous month’s POC of 15810 but it was just the silence before the storm as the last 2-month balance and overlapping Value of June & July led to a huge imbalance starting with the first Trend Day Up of August on 03rd Aug as the auction made a definite move away on the upside clocking a huge 233 point upmove as it made new ATH (All Time High) of 16147 after leaving a daily VPOC at 15877. Nifty then formed a 6-day balance above this Trend Up profile from 04th to 11th Aug with the composite Value at 16221-16256-16308 and gave the second move away of the month to the upside starting from 12th Aug where it formed higher Value and followed it up with an extension handle on the monthly timeframe at 16375 on Friday the 13th giving the second Trend Day Up for the month as the auction went on to make higher highs till 18th Aug where it made the dreaded C side extension at 16702 and confirmed a daily FA (Failed Auction) giving a swift reversal of 166 points as it made a low of 16536 and continued this probe lower at open on 20th as it completed the 2 ATR objective of 16424 from the FA while making a low of 16376 but formed a Normal Day with a small buying tail just above the extension handle of 16375 suggesting buyers defending this level. Nifty then resumed the upside probe for the rest of the month as it first negated that FA of 16702 with a 3-day balance from 25th to 27th Aug and left the second monthly extension handle at 16722 on the 30th and closed the month with yet another Trend Day Up profile on 31st Aug where it made new highs of 17153. The monthly profile is an elongated trending one to the upside with a huge range of 1319 points and completely higher Value at 16177-16255-16653 which has a long buying tail from 16162 to 15834 at the bottom along with the couple of extension handles at 16375 & 16722. However, the immediate zone to watch for the new month would be from 16951 to 17153 staying above which the PLR (Path of Least Resistance) would continue to remain to the upside.
Click here to view the daily Nifty chart of August on MPLite
Monthly Zones:
The VWAP of the August 2021 series is at 16455 spot and the POC is at 16255
The settlement day (Sep) rollover volume point is at 16642 F.
The VWAP of the July 2021 series is at 15780 spot and the POC is at 15810
The settlement day (Aug) rollover volume point is at 15805 F.
The VWAP of the June 2021 series is at 15721 spot and the POC is at 15721
The settlement day (Jul) rollover volume point is at 15840 F.
The VWAP of the May 2021 series is at 14945 spot and the POC is at 15094
The settlement day (Jun) rollover volume point is at 15396 F.
The VWAP of the April 2021 series is at 14576 spot and the POC is at 14375
The settlement day (May) rollover volume point is at 14925 F.
The VWAP of the March 2021 series is at 14816 spot and the POC is at 14737
The settlement day (Apr) rollover volume point is at 14425 F.
BankNifty Spot – 36424 [ 36553 / 34588 ]
Monthly Profile (August 2021)
Previous month’s report ended with this ‘The monthly profile was Neutral One with value forming an outside bar at 34470-34804-35490 and this 2 month balance where the higher of the 2 buying extension handles from May at 34170 being defended could lead to an imbalance in August
BankNifty could not give an imbalance in August but has formed a short covering ‘p’ shape composite profile on the monthly with completely higher Value at 35400-35616-36240 and a close around the highs suggesting that the trending move on the upside could come in the month of September provided the auction gets fresh demand above 36240.
Click here to view the daily BankNifty chart of August on MPLite
Monthly Zones:
The VWAP of the August 2021 series is at 35715 spot and the POC is at 35616
The settlement day (Sep) rollover volume point is at 35699 F.
The VWAP of the July 2021 series is at 35096 spot and the POC is at 34804
The settlement day (Aug) rollover volume point is at 34860 F.
The VWAP of the June 2021 series is at 35012 spot and the POC is at 35070
The settlement day (Jul) rollover volume point is at 35000 F.
The VWAP of the May 2021 series is at 33568 spot and the POC is at 34828
The settlement day (Jun) rollover volume point is at 35380 F.
The VWAP of the April 2021 series is at 32260 spot and the POC is at 32490
The settlement day (May) rollover volume point is at 33765 F.
The VWAP of the March 2021 series is at 34618 spot and the POC is at 33870
The settlement day (Apr) rollover volume point is at 33250 F.
