Nifty Spot – 17340 [ 18351 / 16836 ]
Monthly Profile (January 2022)
Previous month’s report ended with this ‘The monthly profile is a 3-1-3 one with mostly lower Value at 16982-17240-17472 and this month’s prominent POC of 17240 will be the level to watch in January 2022 staying above which Nifty could probe higher towards the monthly selling tail of 17544 to 17639 along with the November POC of 17961 whereas on the downside, breaking below 17240 could bring the daily VPOC of 17083 into play below which the FA’s of 16818 & 16688 will be the levels to watch
Nifty made an Open Drive Up start to the month as well as the year 2022 as it left an initiative buying tail from 17461 to 17383 signalling a move away from previous month’s Value as it went on tag 17945 in the first week before giving a pull back to 17655 on 06th Jan. The auction then resumed the probe to the upside tagging the Nov VPOC of 17961 while making higher highs for the next 8 sessions as it made a high of 18351 on 18th Jan but for the first time in the month left an initiative selling tail on the daily which signalled the end of the upside.
The next 4 sessions saw a huge trending move to the downside as Nifty not only retraced the entire upmove from 03rd Jan but went on to get back into previous month’s Value & completed the 80% Rule as it made a low of 16998 on 24th Jan and in fact even broke below the monthly Value on 25th Jan where it not only opened with a big gap down but recorded new lows for the month at 16837 stalling just above the FA of 16818 and left a big initiative tail in the A period marking the end of the downmove. The auction then gave a bounce back to 17410 on 31st Jan before closing the month at 17340.
The January 2022 profile was a Neutral one with overlapping to higher Value at 17310-17703-18326 with a daily FA at 17264 & the 27th Jan VPOC at 17010 as important levels on the downside whereas on the upside, Nifty will need to get above the daily VPOCs of 17604 & 17784 from 21st & 20th Jan above which the 19th Jan POC of 17921 could come into play before it can make an attempt towards that final frontier of 18261 from 18th Jan in the coming month.
Click here to view the daily Nifty chart of January 2022 as per above analysis on MPLite
Monthly Zones:
The VWAP of the January 2022 series is at 17669 and the POC is at 17703
The settlement day (Feb 2022) rollover volume point is at 17165 F.
The VWAP of the December 2021 series is at 17169 and the POC is at 17240
The settlement day (Jan 2022) rollover volume point is at 17260 F.
The VWAP of the November 2021 series is at 17635 and the POC is at 17961
The settlement day (Dec) rollover volume point is at 17600 F.
The VWAP of the October 2021 series is at 18036 and the POC is at 18155
The settlement day (Nov) rollover volume point is at 17901 F.
The VWAP of the September 2021 series is at 17519 and the POC is at 17365
The settlement day (Oct) rollover volume point is at 17611 F.
The VWAP of the August 2021 series is at 16455 and the POC is at 16255
The settlement day (Sep) rollover volume point is at 16642 F.
BankNifty Spot – 37975 [ 38855 / 35526 ]
Monthly Profile (January 2022)
Previous month’s report ended with this ‘The monthly profile looks like a Double Distribution one with a small selling tail at top from 37398 to 37581 and the extension handle of 35696 seperating the 2 distributions with a small buying tail at lows from 34233 to 34018. Value was completely lower at 34260-35100-36600 with 35696 being the immediate reference on the upside above which the daily VPOCs of 35880 / 36880 & 37480 could come into play whereas on the downside, BankNifty turns weak below 35259 for a probe towards the lower daily VPOC of 35066 & the HVN of 34348‘
BankNifty opened the month with an initiative move away to the upside and left an important extension handle at December’s VWAP of 36082 to signal that the PLR (Path of Least Resistance) for the month was to the upside as it went on to form higher highs till 12th Jan where it left a multi-day FA at 38851 and re-visited it in ‘T+4’ Days but could only manage 38855 and left a FA this time on the weekly timeframe marking the end of the upside and triggered a probe lower first to the 1 ATR objective of 37227 and then to the 3rd Jan POC of 36397 as it made a low of 36375 on 24th Jan. The auction then left another initiative buying tail on 25th Jan to start a probe higher to 38422 on 28th Jan before closing the month at 37975.
The monthly profile is Normal Variation Up and resembles a ‘p’ shape with completely higher Value at 37110-38232-38490 and looks set to tag the November VPOC of 39404 if gets accepted above 38855 in the coming month but will need fresh volumes above it to continue higher to 39650 & 41157 where as on the downside, BankNifty gets weaker below 38232 for a probe towards 27th Jan VPOC of 37313 & the 25th Jan buying tail of 36928 to 36415.
Click here to view the daily BankNifty chart of January 2022 as per above analysis on MPLite
Monthly Zones:
The VWAP of the January 2022 series is at 37772 and the POC is at 38232
The settlement day (Feb 2022) rollover volume point is at 38240F.
The VWAP of the December 2021 series is at 36082 and the POC is at 35100
The settlement day (Jan 2022) rollover volume point is at 35240 F.
The VWAP of the November 2021 series is at 38047 and the POC is at 39404
The settlement day (Dec) rollover volume point is at 37555 F.
The VWAP of the October 2021 series is at 39368 and the POC is at 41157
The settlement day (Nov) rollover volume point is at 39650 F.
The VWAP of the September 2021 series is at 37100 and the POC is at 36633
The settlement day (Oct) rollover volume point is at 37596 F.
The VWAP of the August 2021 series is at 35715 and the POC is at 35616
The settlement day (Sep) rollover volume point is at 35699 F.
