Market Profile Analysis dated 14th Mar 2023

The trend day imbalance led to a balanced ‘b’ shape profile as NF got rejected on the upside from the HVN of 17276 while making a high of 17278 & left a G period PBH at 17265 confriming supply being active in this zone as the auction made small multiple REs to the downside completing the weekly ATR target of 17081 while making a low of 17071 before closing right at the prominent POC of 17122.

• The NF Open was an Open Auction In Range (OAIR)
• The Day Type was a Normal Variation day – Down (‘b’ shape profile)
• Largest volume was traded at 17122 F
• Vwap of the session was at 17155 with volumes of 125.7 L and range of 207 points as it made a High-Low of 17278-17071
• The settlement day Roll Over point (Mar 2023) is 17635
• The VWAP & POC of Feb 2023 Series is 17717 & 17839 respectively.
• The VWAP & POC of Jan 2023 Series is 17923 & 18132 respectively.
• The VWAP & POC of Dec 2022 Series is 18337 & 18584 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 17085-17122-17181

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

BNF has formed a nice 3-1-3 Gaussian Curve on the daily with small tails at both ends & overlapping to lower Value with a close in the middle & near the POC of 39632 signalling a pause in the auction after the trending move it made in the previous session and will need initiative volumes to give a move away from this balance in the coming session(s).

• The BNF Open was an Open Auction In Range (OAIR)
• The Day Type was a Normal Day (3-1-3 Gaussian Curve)
• Largest volume was traded at 39633 F
• Vwap of the session was at 39615 with volumes of 53.5 L and range of 635 points as it made a High-Low of 39949-39314
• BNF confirmed a FA at 41765 on 09/03 & completed the 2 ATR objective on the downside of 40732 on 10/03.
• The settlement day Roll Over point (Mar 2023) is 40365
• The VWAP & POC of Feb 2023 Series is 40880 & 41462 respectively.
• The VWAP & POC of Jan 2023 Series is 41965 & 42320 respectively.
• The VWAP & POC of Dec 2022 Series is 43030 & 43128 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 39435-39633-39748

(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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