Nifty Spot Volume Profile Analysis :
A terrific month for the Bulls, which started from the lows on the first day at 5700.95 and closed at the high on the last day at 6299.15, a super gain of 600 points and in effect had an all time highest monthly close. Nifty is just a few points away from all time high of 6357.10 and based on the momentum it may be scaled in the first week of November.
This range for the month was 608.10, much lower than that of previous month and the ATR(12) was was 468.80 points. The big range days of September reduced drastically and we had a few 100 points days.
The Monthly Spot Profile Values are: VAH-6246, POC-6103, VAL-5960 and Monthly VWAP at 6084
Nifty as per profile has closed above all values and looks extremely strong, and only a close below VAH can see corrective towards POC at 6103 and VWAP at 6084. Till VWAP is not breached on closing basis for at least 2 days, it’s a BUY ON DIPS.
Crucial Level for the Month is stationed at 6246 and 6084
BankNifty Spot Volume Profile Analysis:
Bank Nifty had a great month with the index adding 1855.40 points or approx 19.30%, the highest monthly gain in the last 3 years. The index closed just below the 61.8% level of the fall from 13414 to 8367, stationed at 11486..
The ATR(12) for the month was at 1453.14, upstaging the one of last month, with many 400 points day with the highest range of 599.20 on 29th October.
The Monthly Spot Profile Values are: VAH-11465, POC-10866, VAL-10267 and Monthly VWAP at 10616.
BankNifty as per profile has closed above all values areas and looks bullish. Immediate resistance is the Virgin POC at 11832. Weakness will creep in below 11465 with change of trend below 10866 or below the Monthly VWAP of 10616.
A terrific month for the Bulls, which started from the lows on the first day at 5700.95 and closed at the high on the last day at 6299.15, a super gain of 600 points and in effect had an all time highest monthly close. Nifty is just a few points away from all time high of 6357.10 and based on the momentum it may be scaled in the first week of November.
This range for the month was 608.10, much lower than that of previous month and the ATR(12) was was 468.80 points. The big range days of September reduced drastically and we had a few 100 points days.
The Monthly Spot Profile Values are: VAH-6246, POC-6103, VAL-5960 and Monthly VWAP at 6084
Nifty as per profile has closed above all values and looks extremely strong, and only a close below VAH can see corrective towards POC at 6103 and VWAP at 6084. Till VWAP is not breached on closing basis for at least 2 days, it’s a BUY ON DIPS.
Crucial Level for the Month is stationed at 6246 and 6084
BankNifty Spot Volume Profile Analysis:
Bank Nifty had a great month with the index adding 1855.40 points or approx 19.30%, the highest monthly gain in the last 3 years. The index closed just below the 61.8% level of the fall from 13414 to 8367, stationed at 11486..
The ATR(12) for the month was at 1453.14, upstaging the one of last month, with many 400 points day with the highest range of 599.20 on 29th October.
The Monthly Spot Profile Values are: VAH-11465, POC-10866, VAL-10267 and Monthly VWAP at 10616.
BankNifty as per profile has closed above all values areas and looks bullish. Immediate resistance is the Virgin POC at 11832. Weakness will creep in below 11465 with change of trend below 10866 or below the Monthly VWAP of 10616.
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