Market Profile Analysis dated 05th Apr 2023

NF opened higher & sustained above the closing HVN of 17476 confirming that the PLR (Path of Least Resistance) remained to the upside as it left an A period buying tail from 17530 to 17486 but made a typical C side extension to 17582 which got the customary retracement to the days VWAP in the D TPO where it left a PBL at 17545.

The auction then made a fresh RE to the upside in the F period and followed it with couple of more new highs as it tagged 17620 in the H TPO testing the 13th Mar A period singles which led to the second PBL of the day at 17583 in the J before it closed in a mini-spike from 17620 to 17630 into the close.

• The NF Open was an Open Auction Out of Range (OAOR)
• The Day Type was a Normal Variation Day – Up (NV with a mini spike)
• Largest volume was traded at 17595 F
• Vwap of the session was at 17577 with volumes of 78.6 L and range of 143 points as it made a High-Low of 17630-17486
• The settlement day Roll Over point (Apr 2023) is 17230
• The VWAP & POC of Mar 2023 Series is 17200 & 17069 respectively.
• The VWAP & POC of Feb 2023 Series is 17717 & 17839 respectively.
• The VWAP & POC of Jan 2023 Series is 17923 & 18132 respectively.

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

• Value zones (volume profile) are at 17555-17595-17629

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

BNF made another Open Auction start as it made new highs for the week at 41139 in the A period after taking support just above the yPOC of 40937 as it made a low of 40967 and remained in this narrow 173 point range for most part of the day except for one big RE to the upside in the H TPO where it scaled above 10th Mar Selling tail of 41225 and completed the weekly 2 IB objective of 41234 but could not sustain triggering a quick retracement down to 41042 in the J period.

However, the auction took support at the day’s POC and gave a bounce back to 41181 in the L period making a case for a spike higher but left a PBH there to give a close at 41142 leaving a Normal Variation Day Up with completely higher Value.

• The BNF Open was an Open Auction (OA)
• The Day Type was a Normal Variation Day – Up (NV)
• Largest volume was traded at 41047 F
• Vwap of the session was at 41100 with volumes of 29.1 L and range of 272 points as it made a High-Low of 41239-40967
• BNF confirmed a FA at 39580 on 27/03 & completed the 2 ATR objective of 40868 on 31/03. This FA is currently on ‘T+6’ Days.
• The settlement day Roll Over point (Apr 2023) is 40290
• The VWAP & POC of Mar 2023 Series is 38910 & 39444 respectively.
• The VWAP & POC of Feb 2023 Series is 40880 & 41462 respectively.
• The VWAP & POC of Jan 2023 Series is 41965 & 42320 respectively.

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

• Value zones (volume profile) are at 41028-41047-41149

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

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