Nifty Spot Weekly Profile (13th to 17th Jun 2022)
15293 [ 15886 / 15183 ]
Previous week’s report ended with this ‘The close has been in an imbalance as Nifty confirmed a fresh weekly VPOC at 16626 and staying below 16244 in the coming week could continue to probe lower towards the weekly VPOCs of 16146 & 15868 as this week’s Value also has been completely lower at 16302-16374-16506 which will be the reference on the upside along with the daily VPOCs of 16364 & 16568’
Nifty opened the week with a huge gap down of 324 points right at the lower weekly VPOC reference of 15868 and formed a 3-day balance building an ultra prominent POC at 15762 before giving an initiative move away in form of a Trend Day Down on Thursday as the auction dropped by more than 500 points while making a low of 15335 and continued this imbalance at open on Friday where it tagged the weekly VPOC of 15210 & hit 15183 but left a small buying tail in the IB to mark the end of the imbalance and formed a Normal Day.
The weekly profile is a Double Distribution Trend Down one with completely lower Value at 15390-15762-15882 with a closing HVN at 15308 & has a large low volume zone between 15450 to 15680 which will be the reference on the upside. On the downside, the lower weekly VPOCs of 15096, 14685 & 14560 could come into play if Nifty continues to form lower value in the coming sessions.
Weekly Hypos for Nifty (Spot):
A) Nifty needs a drive above 15308 for a probe to 15357 / 15400 / 15452 / 15487 / 15532 / 15565 / 15625
B) Accepting below 15292 could lead to a test of 15222 / 15155 / 15095 / 15040 / 14996 / 14947 / 14898
C) Above 15625, can expect higher levels of 15684 / 15762 / 15809 / 15863 / 15926 / 15971 / 16012
D) Below 14898, the auction could fall to 14810 / 14777 / 14723 / 14685 / 14641 / 14591 / 14560
NF (Weekly Profile) – 15319 [ 15948 / 15211 ]
NF opened the week with a big gap down of 319 points & also left an initiative selling tail indicating that the PLR was firmly to the downside as it formed a 3-day balance building volumes at 15740 and made a move away from there on Thursday with a Trending move lower to 15328 & continued this imbalance at open on Friday where it hit new lows for the week at 15211 but formed a big IB range of 216 points & remained in the same leaving a Normal Day & a Gaussian Curve with a prominent POC at 15307 which will be the opening reference for the next week. The weekly profile resembles a DD (Double Distribution) with completely lower Value at 15388-15740-15916 and has a zone of singles in the middle from 15492 to 15676.
BankNifty Spot Weekly Profile (13th to 17th Jun 2022)
32743 [ 33774 / 32290 ]
Previous week’s report ended with this ‘The weekly profile is a Neutral Extreme one to the downside with completely lower Value at 34788-34932-34663 and has the daily VPOC of 34830 along with this week’s prominent POC at 34932 as immediate references on the upside whereas staying below 34404, BankNifty could continue to probe down to fill up the low volume zone between 34140 & 33780 apart from tagging the weekly VPOC of 33576 below it’
BankNifty also opened this week with a massive gap down of 755 points and went on to tag the weekly VPOC of 33576 but formed a 3-day balance building an ultra prominent POC at 33324 before giving a move away from it with the help of a big Trend Day Down of 1219 points on Thursday where the auction dropped to 32538 tagging the 08th Mar daily VPOC of 32550 and continued the fall at open on Friday where it made new lows for the week at 32290 but left an initiative buying tail forming a ‘p’ shape profile for the day with a prominent POC at 32701.
The weekly profile is a trending one to the downside & looks like a Double Distribution with a large upper balance for the first 3 days which contains that prominent POC of 33324 and a smaller lower distriubtion with the HVN around 32664 and has a small buying tail at lows from 32481 to 32290. Value was completely lower at 32772-33324-33744 and if this week’s singles get negated BankNifty could continue lower towards the weekly VPOC of 31545 whereas on the upside it has the DD zone from 32916 to 33034 as the reference.
Weekly Hypos for BankNifty (Spot):
A) BankNifty needs a drive from 32760 for a rise to 32916 / 33034 / 33218 / 33390 / 33475 / 33577 / 33774
B) Accepting below 32701, the auction could test 32537 / 32393 / 32172 / 32062 / 31906 / 31833 / 31722
C) Above 33774, can expect higher levels of 33940 / 34106 / 34226 / 34346 / 34477 / 34622 / 34752
D) Below 31722, the auction could fall to 31545 / 31411 / 31308 / 31216 / 31074 / 30955 / 30786
BNF (Weekly Profile) – 32789 [ 33888 / 32335 ]
BNF continued previous week’s imbalance to the downside with a huge 705 point gap down on Monday as it stayed below the HVN of 34152 and formed a long liquidation ‘b’ shape profile for the day with an initiative selling tail from 33479 to 33888 and continued to build on this balance on Tuesday where it made lower lows of 33185 but left a small buying tail in the IB to get back into Monday’s range & value even testing the selling singles as it made a high of 33701. The auction then opened with a gap up on Thusday and made further inroads into Monday’s tail as it made a high of 33798 in the A period but and settlled down into an OAOR (Open Auction Out of Range) leaving a very narrow 192 point range IB after which it gave a trending move lower of more than 1000 points completing the 1.5 Weekly IB target of 32907 and tagging the 08th Mar VPOC of 32686 as it made a low of 32561 and continued this down move on Friday where it made new lows of the week at 32335 but left a buying tail and formed a ‘p’ shape Normal Day with a prominent POC at 32741 which will be the opening reference for the coming week.