Nifty Spot – 16983 [ 18210 / 16782 ]
Monthly Profile (November 2021)
Previous month’s report ended with this ‘The monthly profile is an elongated 3-1-3 profile of 1152 points with completely higher Value at 17764-18155-18347 with the buying tail at lows from 17581 to 17452 and the selling singles from 18543 to 18604
Nifty formed a balance for the first couple of weeks with a slightly positive bias filling up the low volume zone of previous month’s profile below the October POC of 18155 as it held the low made on 01st Nov of 17697 and made higher weekly highs of 18012 & 18123. The auction continued this trend with a higher open in the third week where it scaled above the monthly POC of 18155 while making new highs of 18210 on 15th Nov but formed a long liquidation ‘b’ shape profile indicating rejection and this triggered a trending move lower for the rest of the month as Nifty not only confirmed a FA (Failed Auction) on the monthly timeframe but went on to complete the 1 ATR objective of 17209 on 26th Nov after which it even negated the higher of the August’s monthly extension handle of 16951 while making a low of 16782 on the 29th and gave a bounce back to 17324 on the last day of the month before closing at 16983. The Monthly profile is a Neutral Extreme Down one with overlapping to lower Value at 17367-17961-18207 and has left an extension handle at 17688 which will be an important longer term reference and also has a small tail at lows from 16931 to 16782 which will be the immediate support zone to watch below which the other 2 extension handles of 16722 & 16375 from August could come into play along with the monthly VPOC of 16255 and buying tail from 16162 to 15834.
Click here to view the daily Nifty chart of November as per above analysis on MPLite
Monthly Zones:
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.
The VWAP of the July 2021 series is at 15780 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 and the POC is at 15721
The settlement day (Jul) rollover volume point is at 15840 F.
BankNifty Spot – 35695 [ 40160 / 35328 ]
Monthly Profile (November 2021)
Previous month’s report ended with this ‘The monthly profile in BankNifty also is an elongated one of 4953 points with tails at both ends and completely higher Value at 38280-41157-41340.
BankNifty was the weaker of the 2 indicies this month as it confirmed a monthly FA at 40160 right after the Diwali holidays and trended lower all month as it not only completed the 1 ATR objective of 36807 on 26th Nov but went on to complete the 80% Rule in the ‘p’ shape monthly profile of August as it tagged the monthly VPOC of 36515 while making a low of 35328 on 29th Nov leaving yet another huge range of 4832 points for the month. The monthly profile is one again an elongated one with mostly lower Value at 36960-39404-40080 with a close around the lows where it has left a small tail from 35526 to 35328 which if taken out could lead to more downside in December.
Click here to view the daily BankNifty chart of November on MPLite
Monthly Zones:
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.
The VWAP of the July 2021 series is at 35096 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 and the POC is at 35070
The settlement day (Jul) rollover volume point is at 35000 F.
