Nifty Spot
Monthly Profile (Dec)
December opened with a Gap up above previous month’s high & the spike close of 10775-10922 making a high of 10941 but got rejected giving an ORR start to the month which got back into the spike and then into the nice balance of previous month’s 3-1-3 profile doing a 80% move from the monthly VAH to the VAL. Nifty then went on to test the monthly singles of 10440-10340 in fact making a lower low at 10333 but was again swiftly rejected leaving a similar tail at lows from 10333-10474 and once it got back into the previous month’s balance, it repeated the 80% move but this time to the upside. Nifty continued it’s probe higher making new highs for the month and ended up making a nice balance on the monthly with overlapping to higher Value. We have had an outside month & rejection from just above the monthly POC of the ‘b’ profile of October which means the PLR is to the upside.
Monthly Zones:
The vwap of the December series is at 10796 spot and the POC is at 10741
The settlement day (Dec) rollover volume point is at 10830 F.
The vwap of the November series is at 10486 spot and the POC is at 10583
The settlement day (Nov) rollover volume point is at 10873 F.
The vwap of the October series is at 10490 spot and the POC is at 10275
The settlement day (Oct) rollover volume point is at 10222 F.
The vwap of the Sept series is at 11304 spot and the POC was at 11460
The settlement day (Sept) rollover volume point is at 11025 F.
BankNifty Spot
Monthly Profile (Dec)
BankNifty opened just above the previous month’s spike close of 27012 to 26585 but made a OH start at 27037 & got back into the spike trending lower for the first 7 trading days of the month & got inside the previous month’s lower distribution but got rejected from there leaving singles from 25599 to 26072 after which BankNifty reversed the auction & started trending higher making new highs for the month around the 27370 levels but got exhausted leaving poor highs on the monthly profile. The monthly POC of 26840 will be important support for the month ahead and support lower is at 26650.
Monthly Zones:
The vwap of the December series is at 26713 spot and the POC is at 26840
The settlement day (Dec) rollover volume point is at 27035 F.
The vwap of the November series is at 25686 spot and the POC is at 26218
The settlement day (Nov) rollover volume point is at 26880 F.
The vwap of the October series is at 25011 spot and the POC is at 25080
The settlement day (Oct) rollover volume point is at 24920 F.
The vwap of the Sept series is at 26441 spot and the POC was at 27360
The settlement day (Sept) rollover volume point is at 25170 F.