Market Profile Analysis dated 04th May 2021

Nifty May F:  14549 [ 14765 / 14511 ]

NF opened with a probe to the upside as it made new highs for the week at 14765 but could not extend any further leading to a downside move in the ‘B’ period as it made a low of 14625 leaving a relatively large IB range of 140 points with singles at both ends. The auction then first tested the selling tail at the top in the ‘D’ & ‘E’ periods as it tagged 14762 but the inability to make new highs meant that the upside was getting exhausted and this led to a huge move to the downside starting with the ‘H’ period as NF made multiple REs and even left a selling extension handle at 14600 in the ‘K’ period to spike lower to 14510 in the ‘L’ period before closing the day at 14549 where the dPOC also shifted. Value for the day was mostly overlapping so we have a 2-day composite as the refence for the coming session with Value at 14543-14588-14707.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Variation Day – Down (NV)
  • Largest volume was traded at 14557 F
  • Vwap of the session was at 14650 with volumes of 114.3 L and range of 254 points as it made a High-Low of 14765-14511
  • The settlement day Roll Over point (May) is 14925
  • The VWAP & POC of Apr Series is 14576 & 14375 respectively.
  • The VWAP & POC of Mar Series is 14816 & 14737 respectively.
  • The VWAP & POC of Feb Series is 14893 & 15115 respectively.

You can check the monthly charts & other swing levels for Nifty & NF here & for the weekly charts & analysis, please click here.

Daily Zones:

  • Value zones (volume profile) are at 14520-14557-14704

HVNs – 14676 / 14896 / 14997 


BankNifty May F:  32422 [ 33206 / 32316 ]

BNF also opened higher and went on to make a OTF probe to the upside in the first half of the day as it tagged the weekly HVN & last Friday’s VWAP of 33198 while making a high of 33206 in the ‘E’ period after which it formed an inside bar making leaving a similar high of 33201 in the ‘F’ period which signalled buying exhaustion as the auction made a big move lower in the H period breaking below the day’s VWAP and followed it up with a RE to the downside in the ‘K’ period where it left an extension handle at 32625 and went on to enter previoys day’s balance and tagged the yPOC of 32388 as it made a low of 32316 before closing around the dPOC of 32428 leaving a Neutral Extreme Down Day and the zone on watch for the next open would be 32316-32504. Similar to NF, we have a 2-day composite in BNF too with the overlapping POC at 32417 and Value at 32264-32417-32914.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Neutral EXtreme Day – Down  (NeuX)
  • Largest volume was traded at 32428 F
  • Vwap of the session was at 32809 with volumes of 55.4 L and range of 890 points as it made a High-Low of 33206-32316
  • BNF confirmed a FA at 33599 on 30/04 and tagged the 2 ATR objective of 31825 on 03/05.
  • The settlement day Roll Over point (May) is 33765
  • The VWAP & POC of Apr Series is 33260 & 32490 respectively.
  • The VWAP & POC of Mar Series is 34618 & 33870 respectively.
  • The VWAP & POC of Feb Series is 35530 & 35820 respectively.

For the Monthly charts & other swing levels for BankNifty & BNF click here & for the weekly charts & analysis, please click here.

Daily Zones:

  • Value zones (volume profile) are at 32334-32428-32963 

HVNs – 32423 / 32615 / 33390

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