04th May 2020 - Weekly and Daily Analysis

Monthly Value Areas:

NF VAs
VAH - 9372 
POC - 9012
VAL - 8810

BNF VAs
VAH - 20562
POC - 19542
VAL - 18684

Weekly Analysis:

NF VAs
VAH - 9587 
POC - 9305
VAL - 9232

BNF VAs
VAH - 21426
POC - 20118
VAL - 19692

Week of 27th Apr 2020 was strong and NF closed at highs. BNF was strong. Broke some important zones like 9530, 9610 and closed around 9860 levels. 9910 levels are important for bulls to touch 10455 levels which is the next VPOC from 8th March 2020. 

The gap-up open will act as Singles which are around 9760 - 9580. Any break below 9580, price might test 9375 levels and if momentum is high, can test weekly POC at 9305 zone. The last support for bulls as per weekly profile is at 9270, any break below 9270, can trigger a sharp down move towards 9050 zone. 

ViX was constantly declining around 5% everyday until Thursday, where it recovered till 33 and closed slightly positive. 

NF Weekly Profile



 BNF Weekly Profile:
Daily Analysis:

NF VAs
VAH - 9837
POC - 9815
VAL - 9775

BNF VAs
VAH - 21876 
POC - 21594 
VAL - 21492

NF in the last hour tried to break the dval around 9775, which failed so month expired around 9860 zone. BNF close was weak and closed near IBL. If you observe, NF did not break IBL but BNF easily broke, which was an indication that 9880 in NF and 22000 in BNF was acting as strong resistance. NF had a kind of Open Auctioning after B period although it broke IBH for a brief period. BNF closed with a Neutral day.

Hypo - 1 - If NF opens above YVAH, price might test 9900 zone and any momentum break above 9910 can drive up to 10000 / 10100 zones. 

Hypo - 2 - If NF opens below YVAL, it might drive down to test 9650 zone, and if the momentum is high it might test 29th April VPOC 9455.

Hypo - 3 -  If there is a big gap down as indicated by SGX Nifty, look at the levels 9370 / 9345 / 9315 and 9270 (as last support) . each level break will lead to corresponding level and if 9270 breaks decisively, we might test 9050 zone. 

Side Notes:
1) Reliance and HUL results declared. Missed Street Estimates in a big way. 
2) If there is a big gap down in NF at open lets say for example around 9300 zone, Don't short blindly because there is a huge support around that zone. so wait for 9270 break, on pull back short it. If it does not break that zone, Buy for 9500 target. 
3) ViX reaction is important tomorrow, any huge spike we can conclude huge volatility moving forward and can take ViX to 40/45 levels.

NF Daily Profile
BNF Daily Profile:






Comments

Post a Comment

Popular posts from this blog

30th Aug 2021 - Nifty / BankNifty Weekly Analysis

Image
 Hello Everyone, It has been so long that I posted my analysis here for Nifty and Banknifty. It is time for me to step up and do at least a Weekly and Monthly analysis on both indices and some stocks from time to time. I really miss posting some of my views and I have been busy with my investments, trades, and of course work. Terrific highest weekly closing. Relentless move without any significant down moves, which indicates strength. Large-caps have been moving for the last 3 weeks and the broader market hasn't been performing great. Noticeable sector rotation going on. Underperformance in Pharma, Auto, Banks, Realty and outperformance in Capital goods, IT, FMCG. Cement and OMCs look like going to step up for the next rally. Let's dive into the  Weekly Analysis for Nifty  using Market profile and price action, Last two weeks, Nifty has formed a very strong base of around 16400. That is where the single prints from the Week of 9th August acted as strong support. Refer to ...
Read more

10th Jan 2020

Image
@ 9.00 AM NF closed at 12271 NF VAs VAH - 12273 POC - 12234 VAL - 12223 Hypo - 1 - If price opens above YVAH, it might drive up to test 12320 / 12330 zone Hypo - 2 - If price opens inside YVA, it might balance for a while, it might test the 'C' single prints and then bounce up to test 12300 / 12320 zone. Hypo - 3 - If price opens below YVAL, it might test the single prints at 12210 and it breaks with momentum, it might drive down to test 12110 / 12100 zone. Side Notes: 1) 12285 zone is a small resistance zone, price must break above this with momentum. 2) ViX was down 10%, closed at 14. 3) "C" period Single prints between 12220 and 12200. 4) price might do lot of balancing moves today, due to low ViX.
Read more