Nifty Spot Volume Profile Analysis: January 2014
After seeing all time high just the previous month, the index was unable to sustain the high and lost more than 214 points or around 3.4% to close around the lows of the month at 6089.50.
The ATR(12) for the month was at 436.42, down from previous month by a few points. The month mostly had small range bound days with a few 100 pointers in between. The high of the month was at 6358.30 and the lows at 6027.25 on Expiry day.
The Monthly Spot Profile Values are: VAH-6356, POC-6305, VAL-6181 and Monthly VWAP at 6223.
Nifty Spot as per profile has closed below all Value areas and looks extremely Bearish with immediate Resistance placed at 6181 the Monthly VAL. The Index will move into Bullish territory only above Monthly VWAP at 6223.
Inference: Sell on Rise around 6180-6220, with Stop Loss at 6223 on Closing Basis…
BankNifty Spot Volume Profile Analysis: January 2014
Bank Nifty had a very bad month, with the index losing around 1478 points from the highs at 11578.90 to the lows at 10101.20 to close just above at 10237.80. The index ultimately lost 10.1% for the month and closed just below the 50% Fibo level for the rise from 8367 to 12226 with 61.8% placed at 9841.
The ATR(12) for the month was at 1425.59, upstaging the one of last month, with many 300 points day.
The Monthly Spot Profile Values are: VAH-11379, POC-11017, VAL-10656 and Monthly VWAP at 10922.
BankNifty as per profile has closed way below VAL and a re-test of the same is possible in the coming days and only a close above VAL and better still VWAP at 10922, Bulls can lay their claim on the Index.
Inference: Bank Nifty is the Weaker of the 2 index and Sell on Rise till Monthly POC at 11017 is not crossed on a Closing basis...
After seeing all time high just the previous month, the index was unable to sustain the high and lost more than 214 points or around 3.4% to close around the lows of the month at 6089.50.
The ATR(12) for the month was at 436.42, down from previous month by a few points. The month mostly had small range bound days with a few 100 pointers in between. The high of the month was at 6358.30 and the lows at 6027.25 on Expiry day.
The Monthly Spot Profile Values are: VAH-6356, POC-6305, VAL-6181 and Monthly VWAP at 6223.
Nifty Spot as per profile has closed below all Value areas and looks extremely Bearish with immediate Resistance placed at 6181 the Monthly VAL. The Index will move into Bullish territory only above Monthly VWAP at 6223.
Inference: Sell on Rise around 6180-6220, with Stop Loss at 6223 on Closing Basis…
BankNifty Spot Volume Profile Analysis: January 2014
Bank Nifty had a very bad month, with the index losing around 1478 points from the highs at 11578.90 to the lows at 10101.20 to close just above at 10237.80. The index ultimately lost 10.1% for the month and closed just below the 50% Fibo level for the rise from 8367 to 12226 with 61.8% placed at 9841.
The ATR(12) for the month was at 1425.59, upstaging the one of last month, with many 300 points day.
The Monthly Spot Profile Values are: VAH-11379, POC-11017, VAL-10656 and Monthly VWAP at 10922.
BankNifty as per profile has closed way below VAL and a re-test of the same is possible in the coming days and only a close above VAL and better still VWAP at 10922, Bulls can lay their claim on the Index.
Inference: Bank Nifty is the Weaker of the 2 index and Sell on Rise till Monthly POC at 11017 is not crossed on a Closing basis...
