These are lines of an indicator called Anchored VWAP. I applied this just for understanding. But we do analysis by using Elliott wave theory.
As per Elliott wave theory, the correction is about to an end. Then the impulsive wave will start soon with a bull run.
vwap is volume weighted price.
volume that should be used is the actual traded qty on the counter.
So vwap is calculated from instruments - price and volume.
Nifty spot does not have volume.
The volume what you see there is not the actual volume traded on the counter.
The volume what you see there should be sum total volume of underlying stocks.
Thus, Vwap is illogical on Nifty spot.