Market Profile Analysis dated 16th Jan

Nifty Jan F:

NF opened in the spike and went past previous day highs which was a bullish start but volumes were below par which meant no new demand was coming and the ‘A’ period highs of 10963 were to be watched for any extension to the upside along with volume expansion. The extension to the upside never came and after ‘B’ made an inside bar and once the auction got back into the previous day range in the ‘C’ period, it probed lower the next 3 periods breaking IBL and testing the spike low of 10913 & reversing the auction from there. NF got back above VWAP and was moving towards IBH but could only tag 10958 before the auction reversed yet again making a nice bell profile for the day. NF went on to make new day lows of 10907 in the ‘J’ period but was again swiftly rejected for a move back to VWAP as it left a pull back high at 10948 before closing at the dVAL making a perfect bell curve on the day with Value higher.

Nf Compo1 11 Market Profile Analysis Dated 16Th Jan Banknifty Futures, Charts, Day Trading, Intraday Trading, Intraday Trading Strategies, Market Profile, Market Profile Trading Strategies, Nifty Futures, Order Flow Analysis, Support And Resistance, Technical Analysis, Trading Strategies, Volume Profile Trading

    • The NF Open was a Open Auction
    • The day type was a Normal Variation Day (Bell Profile)
    • Largest volume was traded at 10937 F
    • Vwap of the session was at 10935 with volumes of just 78 L in a session which traded a High-Low range of 10940-10792 for a very narrow range of 56 points 
    • NF had left a FA at 10678 on 04/01 and tagged the 1 ATR move of 10803 & closed above it. The 2 ATR target of 10928 was tagged on 15/01.
    • NF had left a FA at 10580 on 26/12 & completed the 2 ATR move up to 10862. This FA has not been tagged since the & is now strong support
    • The VWAP & POC of Dec Series 10796 & 10741 respectively
    • The VWAP & POC of Nov Series 10480 & 10580 respectively.
    • The VWAP & POC of 31/10 10250 & 10248 will be important levels going forward

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 10923-10937-10952

Hypos / Estimates for the next session:

a) Above 10925, NF can tag 10948-952
b) NF has immediate support at 10902, below which it can test 10880 & 10860
c) The auction has strong supply at 10960-968 zone and sustaining above it can probe higher to 10985-995 and 11022
d) NF gets weak below 10860 for a move lower to 10840 and 10818


BankNifty Jan F:

Bnf Compo1 12 Market Profile Analysis Dated 16Th Jan Banknifty Futures, Charts, Day Trading, Intraday Trading, Intraday Trading Strategies, Market Profile, Market Profile Trading Strategies, Nifty Futures, Order Flow Analysis, Support And Resistance, Technical Analysis, Trading Strategies, Volume Profile Trading

BNF looked like an Open Test Drive up when it probed lower at open and reversed from just above the yPOC to move above previous day highs and scoring a quick 100 as it made highs of 27640 in the ‘A’ period but just like yesterday the volumes were way below average which meant that BNF could rotate back lower. The auction went on to give a pull back low of 27560 in the E period but the probe back above VWAP still saw no new demand coming and so BNF could not scale above the IBH forming a ‘p’ shape profile for the day which was inside the IB range of 138 points making it the lowest range in the last 6 months. The closing hour saw some inventory adjustment happening as BNF got into the morning singles & tagged the opening price. BNF ended as a Normal Day and the contraction of range over the last 2 days could see a big range expansion coming in it.

  • The BNF Open was a Open Auction
  • The day type was a Normal Day
  • Largest volume was traded at 27608 F
  • Vwap of the session was at 27594 with very low volumes of just 17.7 L in a session which traded a High-Low range of 27640-27502 for a range of just 138 points which is the new lowest in the last 5 months.
  • The VWAP & POC of Dec Series 26713 & 26832 respectively
  • The VWAP & POC of Nov Series 25686 & 26218 (Spot) respectively
  • 31st October’s VWAP of 24895 & POC of 24900 will be important levels going forward

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 27575-27608-27628

Hypos / Estimates for the next session:

a) BNF has immediate support at 27530 below which it can tag 27480 & 27440-435
b) Sustaining above 27530 at open, the auction can move back to the dPOC of 27608 and 27664
c) Above 27705, BNF can give a fresh leg up to 27785 & 27844
d) Below 27435, BNF gets weak and can probe lower till the VPOC of 27350

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