Nifty Spot – 15721 [ 15915 / 15450 ]
Monthly Profile (June 2021)
Previous month’s report ended with this ‘The Monthly profile is a Trend Up one with overlapping to higher Value at 14990-15094-15176 along with an extension handle at 15330 and it remains to be seen how far this imbalance on the higher time frame plays out in the coming month
Nifty stayed above the extension handle of 15330 but formed the narrowest monthly range in the last 18 months of just 465 points as the imbalance of previous month led to a balance and a perfect Gaussian Profile with completely higher Value at 15618-15721-15834 with a close right at the monthly POC of 15721 and has a good chance of turning into an imbalance in the coming month provided it gives an initiative move away from this POC.
Click here to view the daily Nifty chart of June on MPLite
Monthly Zones:
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.
The VWAP of the February 2021 series is at 14893 spot and the POC is at 15115
The settlement day (Mar) rollover volume point is at 15174 F.
The VWAP of the January 2021 series is at 14288 spot and the POC is at 14569
The settlement day (Feb) rollover volume point is at 13809 F.
BankNifty Spot – 34472 [ 35811 / 33909 ]
Monthly Profile (June 2021)
Previous month’s report ended with this ‘The monthly profile is a Triple Distribution Trend Up one with overlapping to higher Value with coulple of extension handles at 33510 & 34170 with the monthly POC also shifting higher to 34828 which would be the important references in the coming month
BankNifty made an attempt to continue previous month’s imbalance to the upside and made a look up above the previous highs of 33584 twice in the first week of June but got rejected both the times leaving swing highs of 35714 & 35811 and this led to a probe lower for the next couple of weeks as the auction filled up the low volume zone of the upper most distribution of May’s profile and even tested the first extension handle of 34170 not once but on consecutive days (18th & 21st June) but gave a responsive plus an initiative buying tail after making similar lows of 33909 & 33937 marking the end of the downside probe for the month. BankNifty then made a move back to 35577 over the next 5 days but confirmed an ORR (Open Rejection Reverse) start in the last week of the month which triggered a fall to 34730 closing the month with a Neutral Extreme Down Day on the 30th. The monthly profile is a well balanced one with completely higher Value at 34660-35070-35460 and the last 2 months is now showing a Double Distribution profile with the zone of 34300 to 33300 seperating the 2 distributions.
Click here to view the daily BankNifty chart of June on MPLite
Monthly Zones:
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.
The VWAP of the February 2021 series is at 35530 spot and the POC is at 35820
The settlement day (Mar) rollover volume point is at 36719 F.
The VWAP of the January 2021 series is at 31597 spot and the POC is at 32062
The settlement day (Feb) rollover volume point is at 30445 F.
