Nifty Spot – 18758 [ 18816 / 17959 ]
Monthly Profile (November 2022)
Previous month’s report ended with this ‘The monthly profile is a Trend Up one though the range was completely inside September’s huge range of 1348 points with Value mostly lower at 16870-17260-17458 but has closed in an imbalance which can be expected to continue in the month of November towards Jan 2022 highs of 18350 and above that the ATH of 18604
- Nifty continued the closing imbalance of previous month as it remained above the spike zone of 17811 to 18022 on an EOD basis and the 2 days it did test it resulted in similar lows of 17959 & 17969 on 3rd & 10th Nov respectively indicating that the PLR (Path of Least Resistance) remained firmly to the upside. The auction then went on to hit new highs for 2022 at 18362 on 11th Nov and went on to record a high of 18442 on the 16th from where it gave an retracement into the 4th week but once again made similar lows of 18133 & 18137 on 21st & 22nd Nov confirming a weekly FA which resulted in a trending move for the rest of the month as Nifty opened the last week of the month with an extension handle at 18534 and not only recorded new ATH of 18614 on 28th Nov but went on to close November with a bang & a 200 pointer day on the 30th giving yet another spike close from 18678 to 18816 and has a good chance that this imbalance would continue in the new month too.
- The monthly profile is once again a Trend Up one which started off a narrow 220 points range IB between 18178 to 17959 but went on to complete the 3 IB objective of 18618 after leaving an extension handle at 18534 forming completely higher Value at 18039-18335-18417 with the spike zone of 18678 to 18816 being on watch as the last month of 2022 sets in.
Click here to view the daily Nifty MarketProfile charts of November 2022 on MPLite
Monthly Zones:
The VWAP of the November 2022 series is at 18295 and the POC is at 18335
The settlement day (Dec 2022) rollover volume point is at 18650 F.
The VWAP of the October 2022 series is at 17350 and the POC is at 17260
The settlement day (Nov 2022) rollover volume point is at 17800 F.
The VWAP of the September 2022 series is at 17500 and the POC is at 17643
The settlement day (Oct 2022) rollover volume point is at 16837 F.
The VWAP of the August 2022 series is at 17530 and the POC is at 17530
The settlement day (Sep 2022) rollover volume point is at 17580 F.
The VWAP of the July 2022 series is at 16556 and the POC is at 15976
The settlement day (Aug 2022) rollover volume point is at 16963 F.
The VWAP of the June 2022 series is at 15895 and the POC is at 15793
The settlement day (July 2022) rollover volume point is at 15720 F.
BankNifty Spot – 43231 [ 43339 / 40819 ]
Monthly Profile November 2022)
Previous month’s report ended with this ‘BankNifty gave a Trend Up profile inside September’s huge range of 4454 points with overlapping to lower Value at 38430-38950-40530 and this imbalance to the upside could continue provided it is able to take out the monthly selling tail of 41677 to 41840 in the coming month‘
- BankNifty opened the month scaling above October higher but got rejected exactly at the selling tail base of 41677 (September) triggering a probe lower to 40819 where it left a responsive buying tail turning the PLR once again to the upside as it not only negated the monthly selling singles from 41677 to 41840 but went on to form a Triple Distribution Trend Up profile for the month as it recorded new ATH of 43339 on 25th Nov and almost matched it on 30th with a high of 43332 before settling down at 43231. Value for the month was completely higher at 41070-42959-42630 with the 2 extension handles at 41948 & 42622 seperating this month’s lower distributions and would be the important positional references going forward as the auction looks to continue this imbalance to the upside.
Click here to view the daily BankNifty MarketProfile charts of November 2022 on MPLite
Monthly Zones:
The VWAP of the November 2022 series is at 42150 and the POC is at 42959
The settlement day (Dec 2022) rollover volume point is at 43331 F.
The VWAP of the October 2022 series is at 39750 and the POC is at 38950
The settlement day (Nov 2022) rollover volume point is at 415100 F.
The VWAP of the September 2022 series is at 39910 and the POC is at 40790
The settlement day (Oct 2022) rollover volume point is at 37890 F.
The VWAP of the August 2022 series is at 38530 and the POC is at 38320
The settlement day (Sep 2022) rollover volume point is at 39035 F.
The VWAP of the July 2022 series is at 35427 and the POC is at 35099
The settlement day (Aug 2022) rollover volume point is at 37434 F.
The VWAP of the June 2022 series is at 33969 and the POC is at 33498
The settlement day (July 2022) rollover volume point is at 33380 F.
