Market Profile Analysis dated 16th April 2021

Nifty Apr F:  14646 [ 14733 / 14582 ]

NF continued the imbalance to the upside as it gave a move away from the yPOC of 14596 and probed higher in the IB (Initial Balance) where it matched this week’s high of 14689 and went on to make a C side extension which promptly led to a test of the days VWAP in the D period where it left a PBL (Pull Back Low) at 14663 and made a fresh RE (Range Extension) higher in the ‘E’ period but could only make marignal new highs of 14718 indicating that the demand was waning and this led to another break below VWAP in the ‘F’ period as NF left a lower PBL at 14645 taking support right at the start of the morning buying tail of the IB. The auction then remained between the extremes of the ‘E’ & ‘F’ periods forming a perfect ‘p’ shape profile for the day before it made another fresh RE to the upside in the ‘K’ period as it hit 14733 stalling just below the previous month’s POC of 14737 and this rejecton triggered a long liquidation move into the close as NF went on to make a low of 14618 before closing below the prominent dPOC of 14682 leaving a balanced profile with the narrowest daily range in April of just 151 points indicating that this balance could lead to an imbalance in the coming session.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction (OA)
  • The Day type was a Normal Day (‘p’ shape profile)
  • Largest volume was traded at 14682 F
  • Vwap of the session was at 14671 with volumes of 98.2 L and range of 151 points as it made a High-Low of 14733-14582
  • The settlement day Roll Over point (Apr) is 14425
  • The VWAP & POC of Mar Series is 14816 & 14737 respectively.
  • The VWAP & POC of Feb Series is 14893 & 15115 respectively.
  • The VWAP & POC of Jan Series is 14288 & 14569 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 14645-14682-14703

HVNs – 14420 / 14621 / 14826 / 14906* / 14975


BankNifty Apr F:  32075 [ 32439 / 31986 ]

BNF also continued the imbalance to the upside at open as it made new highs of the week at 32439 but the entry into last Friday’s singles was met with rejection resulting in a small selling tail at top after which the auction remained in the A period range of 453 points all day leaving a Normal Day and a Gaussian profile with a prominent POC at 32142 with a good chance of moving away from here in the coming session.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auction (OA)
  • The Day type was a Normal Day (Gaussian profile)
  • Largest volume was traded at 32142 F
  • Vwap of the session was at 32175 with volumes of 40.7 L and range of 453 points as it made a High-Low of 32439-31986
  • The settlement day Roll Over point (Apr) is 33250
  • The VWAP & POC of Mar Series is 34618 & 33870 respectively.
  • The VWAP & POC of Feb Series is 35530 & 35820 respectively.
  • The VWAP & POC of Jan Series is 31597 & 32062 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 32089-32142-32286

HVNs – 32615 / 33250 / 33466 */ 34050

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