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Market Profile Analysis dated 04th October 2021

October 4, 2021October 4, 2021 UG Blog

Nifty Oct F: 17706 [ 17745 / 17560 ]

NF opened higher above previous day’s small selling tail of 17544 to 17562 triggering a big short covering move as it went on to tag the 30th Sep VPOC of 17632 in the A period itself and left an extension handle at 17636 giving a quick move to the HVN of 17710 in the ‘B’ period while making a high of 17715 leaving a large IB (Initial Balance) range of 156 points. The auction continued this momentum in the C & D TPOs as it made marginal new highs of 17738 & 17745 but the range was contracting just below the FA (Failed Auction) point of 17758 indicating that the demand was not yet coming in and this led to a retracement over the next 3 periods with NF breaking below the day’s VWAP for the first time in the day but left a PBL (Pull Back Low) at 17642 right above the morning buying reference after which it settled down to form a balance for the rest of the day leaving a Normal Day and a ‘p’ shape profile with a close around the prominent POC of 17709. Value was completely higher but new demand above 17724 would be needed for a re-visit to the FA and the selling extension handle of 17813 whereas on the downside, staying below today’s POC could bring a probable test of 17636 and a break of which could lead more liquidation.


Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Normal Day (‘p’ shape profile)
  • Largest volume was traded at 17709 F
  • Vwap of the session was at 17682 with volumes of 69 L and range of 185 points as it made a High-Low of 17745-17560
  • NF confirmed a FA at 17758 on 30/09 and almost tagged the 2 ATR objective of 17426 on 01/10.
  • The settlement day Roll Over point (October) is 17611
  • The VWAP & POC of Sep Series is 17519 & 17365 respectively.
  • The VWAP & POC of Aug Series is 16455 & 16255 respectively.
  • The VWAP & POC of Jul Series is 15778 & 15820 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 17667-17709-17738

HVNs – 17751 / 17817

Business Areas for 05th OCt:

Up
17724 – PBH (Pull Back High) from 04th Oct
17758 – FA (Failed Auction) from 30th Sep
17813 – Extension Handle from 28th Sep
17852 – Daily Extension Handle from previous week
17910 – Selling Singles from 28th Sep

Down
17685 – VWAP from 04th Oct
17636 – Extension Handle from 04th Oct
17581 – Mid point of buying singles (4th Oct)
17551 – Mid point of gap up (04th Oct)
17516 – VPOC from 01st Oct

(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )


BankNifty Oct F:  37735 [ 37785 / 37445 ]


BNF not only opened higher just above PDH (Previous Day High) but also gave an OL (Open=Low) start at 37445 setting off a short covering move in the IB (Initial Balance) where it left an initiative buying tail from 37597 to 37445. The auction then made an inside bar in the C period and followed it up with marginal new highs of 37778 in the D TPO as it tagged the NeuX VWAP of 37770 from 30th Sep and failed to find fresh demand and this led to a stalemate for the rest of the day as BNF formed a narrow range ‘p’ shape profile with a prominent POC at 37700 and completely higher Value.

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 Normal Day (‘p’ shape profile)
  • Largest volume was traded at 37700 F
  • Vwap of the session was at 37682 with volumes of 26.4 L and range of 340 points as it made a High-Low of 37785-37445
  • BNF confirmed a FA at 38023 on 30/09 and completed the 1 ATR objective of 37446 on 01/10. The 2 ATR target comes to 36868.
  • The settlement day Roll Over point (October) is 37596
  • The VWAP & POC of Sep Series is 37210 & 36633 respectively.
  • The VWAP & POC of Aug Series is 35715 & 35616 respectively.
  • The VWAP & POC of Jul Series is 35105 & 34804 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 37650-37700-37764

HVNs – 35840 / 36749

Business Areas for 05th Oct:

Up
37820 – Weekly POC
37935 – HVN from 30th Sep
38023 – FA (Failed Auction) from 30th Sep
38135 – PBH (Pull Back High) from 29th Sep
38319 – Selling singles from 28th Sep

Down
37700 – POC from 04th Oct
37594 – Buying Singles from 04th Oct
37475 – Mid point of buying singles (4th Oct)
37355 – VPOC from 01st Oct
37166 – PBL (Pull Back Low) from 01st Oct

(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )

For more tradeable ideas and intraday trading strategies based on MarketProfile and the OrderFlow live charts with OrderFlow analysis Live, subscribe to the trading room. The Vtrender Trading Room hosts India’s largest MarketProfile community live every trading session from 9.15 am to 3.30 pm.

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