Nifty Spot Weekly Profile (21st to 25th Nov 2022)
18307 [ 18442 / 18209 ]
Previous week’s report ended with this ‘The weekly profile is a well balanced Neutral one with mostly higher Value at 18306-18366-18414 within a narrow range of just 232 points & is looking for some initiative player to step in for a fresh round of imbalance in the coming session(s) with the 2 weekly VPOCs on either side at 18501 & 18174 being the immediate objectives’
- Monday – Nifty began the week with an Open Drive Down as it broke below the downside objective of 18174 and made a low of 18146 in the A period but settled down into a very narrow range of just 45 points for the rest of the day with couple of failed attempts to extend lower in the I & K TPOs bringing about only marginal new lows of 18133 closing the day right at the prominent dPOC of 18158 of the ‘b’ shape profile
- Tuesday – With the auction failing to get new supply below 18174, there was a short covering ‘p’ shape profile formed inside Monday’s range with an initiative buying tail at 18158 and forming another prominent POC at 18211 and a small spike close from 18228 to 18261
- Wednesday – saw the spike being accepted with a higher open which also confirmed a FA at 18133 on the weekly timeframe but the entry into previous week’s Value did not get fresh demand leading to a narrow 79 point range Gaussian profile for the day with yet another prominent POC at 18293 with Value forming higher for the second consecutive session
- Thursday – The buyers took control after opening higher as they left an initiative tail from 18338 to 18294 completing the 80% rule in the weekly balance with a slow Trend Day up till the K period after which it made a big spike up from 18406 to 18529 into the close tagging the upper objective of this week which was at 18501 closing in an imbalance at 18484
- Friday – In Market Profile, a balance leads to imbalance & vice versa and the auction gave an example of this with a return to balance in form of a narrow 90 point range Normal Day which was a Gaussian Curve forming Value in previous day’s spike with yet another prominent dPOC at 18469 continuing this week’s trend of forming higher Value on each day
The weekly profile is a Neutral Extreme One to the upside with a FA at 18133 which has the 1 ATR objective of 18560 and has formed value at 18204-18480-18528 with 5 prominent POCs on each day showing a strong Trend is underway with the immediate dPOC of 18469 being the reference for the imbalance to continue in the coming week towards new ATH where below 18450, Nifty could fill up the low volume zones with the daily VPOCs of 18382, 18293 & 18211 as the probable objectives.
Weekly Hypos for Nifty (Spot):
A) to be updated…
B) to be updated…
NF (Weekly Profile) – 18646 [ 18668 / 18251 ]
BankNifty Spot Weekly Profile (21st to 25th Nov 2022)
42437 [ 42622 / 41965 ]
Previous week’s report ended with this ‘The weekly profile was a Normal Variation one to the upside in a narrow range of 657 points with completely higher Value at 42198-42438-42582 with a close right at the POC as the imbalance to the upside from 41292 seems to be giving way to a balance being formed which could continue in the coming week’
- Monday – BankNifty opened lower filling up the low volume zone of previous week’s profile with a perfect Gaussian Curve & a Normal Day in a narrow range of just 184 points forming a prominent dPOC at 42277 but closing above the VAH indicating buyer had the upperhand
- Tuesday – made a slightly higher open but formed an ultra narrow range of just 124 points in the IB ad remained inside the same for most part of the day with an attempt to probe lower in the D period getting rejected at 42347 where it confirmed a FA with a small spike into the close as it hit new highs of 42508
- Wednesday – Buyers took complete control as they not only opened higher but left an initiative buying tail from 42629 to 42556 scaling above previous week’s Value and completing the 1 ATR objective of 42714 which was also the weekly 3 IB target as it formed a ‘p’ shape profile for most part of the day with the dPOC at 42657 and gave a small spike higher in the L TPO to 42860 completing the previous weekly range target to the dot leaving a small responsive selling tail indicating profit booking
- Thursday – The auction saw fresh demand coming back at the open as it negated the selling tail of previous day with another A period singles from 42873 to 42769 forming another ‘p’ shape profile for the day after hitting new ATH of 43012 and was forming the dPOC at 42942 before it gave a spike close to 43163 and in the process completed the 2 ATR target of 43082 from the FA of 42347
- Friday – Banknifty continued the closing imbalance of previous day with a probe to 43339 in the A period but for the first time in the week left an initiative selling tail marking the end of the upside after which it made multiple REs lower tagging the yPOC of 42942 and tested the A period singles taking support there as it left a small responsive buying tail from 42865 to 42926 to give a close just above the dPOC of 42970 forming a ‘b’ shape profile for the day with overlapping Value
The weekly profile is a Trend Up one to the upside with higher highs on all 5 days and a range of 1137 points forming completely higher Value at 42420-42948-43335 but has left a tail at top from 43243 to 43339 along with a PBH at 43057 which will be the references on the upside to be taken out in the coming week for it to continue the probe higher whereas on the downside, staying below 42937 the auction could fill up the low volume zone with the daily VPOCs of 42657, 42424 & 42277 being the probable objectives.
Weekly Hypos for BankNifty (Spot):
A) to be updated…
B) to be updated…
BNF (Weekly Profile) – 42391 [ 43566 / 42477 ]
