Monthly (May 2019) charts and Market Profile analysis

Nifty Spot

Monthly Profile (May)

Nifty opened this month with a 2-day balance above the previous month’s VAH of 11720 along with a failed attempt to probe higher as it made a C side extension tagging 11789 on the very first day of the month which was a strong signal that upside looked limited. The auction then gave a gap down on the first Monday of the week confirming the downward bias & made a trending move lower marking lower lows for the next 6 days as it hit a low of 11108 on 14th May when the OTF down stopped & Nifty began to form a balance signalling that the downside objective could be done. More confirmation of the this came on 17th May when Nifty moved away from this balance to the upside after which we saw a big gap up of almost 250 points on 20th May as the auction went on to probe above the first day highs making new monthly highs of 11845. Nifty continued to probe higher for the remaining part of the month making new life time highs of 12041 on 23rd May and almost tagged it again on 31st indicating that the upside probe is still not over. Though the monthly profile looks like a DD (Double Distribution), Nifty has made a Neutral Extreme profile on the monthly timeframe and needs to get accepted above 12041 to continue higher in the new month. Staying below 11960 Nifty could continue to balance in the upper distribution and will get weak below the monthly POC of 11696 with the possibility of testing the monthly singles of 11590 to 11426. The Monthly Value is 11376-11696-12032.

N Monthly 1 Monthly (May 2019) Charts And Market Profile Analysis Banknifty Futures, Charts, Day Trading, Intraday Trading, Intraday Trading Strategies, Market Profile, Market Profile Trading Strategies, Nifty Futures, Order Flow Analysis, Support And Resistance, Technical Analysis, Trading Strategies, Volume Profile Trading

 

Monthly Zones:

The vwap of the May series is at 11613 spot and the POC is at 11696
The settlement day (Jun) rollover volume point is at 11980 F.

The vwap of the April series is at 11641 spot and the POC is at 11656
The settlement day (May) rollover volume point is at 11878 F.

The vwap of the March series is at 11327 spot and the POC is at 11448
The settlement day (Apr) rollover volume point is at 11673 F.

The vwap of the February series is at 10830 spot and the POC is at 10856
The settlement day (Mar) rollover volume point is at 10860 F.

The vwap of the January series is at 10795 spot and the POC is at 10823
The settlement day (Feb) rollover volume point is at 10676 F.

The vwap of the December series is at 10796 spot and the POC is at 10741
The settlement day (Jan) rollover volume point is at 10830 F.


BankNifty Spot

Monthly Profile (May)

BankNifty opened the month with a rejection from below the monthly VAL on 2nd May as it made a low of 29638 to get back into the monthly Value as it probed higher looking like it would complete the 80% Rule as it tagged 30121 on 3rd May but made a gap down on Monday after which it trended lower for the next 2 weeks as it made a low of 28525 on 18th May. The auction then signaled a reversal on 19th May as it moved away from the HVN of 28940 and the balance it was forming for the first 2 weeks and followed this with a huge gap up of 750 points on Monday leaving behind singles from 30111 to 29450 making new all time highs and continued to trend higher for the last 2 weeks of the month making another balance at top of the monthly profile leaving a Double Distribution profile which was also a Neutral Extreme month as it closed at 31375. BankNifty has a small tail at top from 31712 to 31783 which could act as resistance on any probe higher & which it would have to take out to continue. The Monthly Value is 28540-28940-30980

Bn Monthly Monthly (May 2019) Charts And Market Profile Analysis Banknifty Futures, Charts, Day Trading, Intraday Trading, Intraday Trading Strategies, Market Profile, Market Profile Trading Strategies, Nifty Futures, Order Flow Analysis, Support And Resistance, Technical Analysis, Trading Strategies, Volume Profile Trading

Monthly Zones:

The vwap of the May series is at 30211 spot and the POC is at 28940
The settlement day (Jun) rollover volume point is at 31644 F.

The vwap of the April series is at 30037 spot and the POC is at 29850
The settlement day (Apr) rollover volume point is at 29760 F.

The vwap of the March series is at 29061 spot and the POC is at 29778
The settlement day (Apr) rollover volume point is at 30500 F.

The vwap of the February series is at 27042 spot and the POC is at 26978
The settlement day (Mar) rollover volume point is at 26965 F.

The vwap of the January series is at 27236 spot and the POC is at 27514
The settlement day (Feb) rollover volume point is at 27332 F.

The vwap of the December series is at 26713 spot and the POC is at 26840
The settlement day (Jan) 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 (Dec) rollover volume point is at 26880 F.