Market Profile Analysis dated 16th July

Nifty Jul F:  11658 [11672/11570]

Yesterday’s report closed with this ‘The composite has now extended to 5 days & the Value is 11515-11576-11588 (view the chart here) as NF closed around the POC so unless we get a move away from this POC on the upside in the coming session, the auction is most likely to remain in this composite giving a probe lower towards the VAL’

NF gave a move away from the composite Value after making a low of 11570 at open as it probed higher scaling above the Friday’s scene of crime at 11610 as it left a buying tail from 11613 to 11570 in the IB (Initial Balance) and went on to probe above the trend day VWAP of 11625 as it made a high of 11642 matching the Friday’s high leaving relatively large IB. (Click here to view the profile chart for better understanding) The auction then started forming a balance and made an attempt to extend the IB on the upside in the ‘F’ period as it tagged 11646 but was rejected & then continued to balance till the ‘I’ period where it tested the morning buying tail making a low of 11610 which indicated that the morning buyers are still in and this triggered a good move to the upside as NF trended higher for the next 3 periods making a succesful range extension this time as it tagged 11665 (the lower of the 2 extension handle(s) it had left on the Trend Day) making highs of 11672 in the ‘L’ period after which it gave a dip to IBH taking support at 11645 which will be the immediate support in the next session below which the main support would be at 11625-610 zone which would need to hold in case the auction has to continue this imbalance to the upside.

Nf Compo1 12 Market Profile Analysis Dated 16Th July 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 In Range (OAIR)
  • The day type was a Normal Variation Day (Up)
  • Largest volume was traded at 11625 F
  • Vwap of the session was at 11631 with volumes of 81.1 L and range of 102 points as it made a High-Low of 11672-11570
  • NF closed above the Trend Day VWAP of 08/07 which was at 11625 & could act as support now. The higher Trend Day VWAP of 05/07 at 11908 remains important reference on the upside.
  • The settlement day Roll Over point is 11915
  • The VWAP & POC of Jun Series is 11833 & 11714 respectively.
  • The VWAP & POC of May Series is 11613 & 11696 respectively.
  • The VWAP & POC of Apr Series is 11641 & 11592 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 11610-11625-11657

Hypos / Estimates for the next session:

a) NF needs to stay above 11660 for a move to 11682 & 11705-710
b) Immediate support is at 11645 below which the auction can test 11625-610 & 11589-577
c) Above 11710, NF can probe higher to 11743 & 11770-773
d) Below 11577, auction becomes weak for 11556-552 & 11523-515
e) If 11773 is taken out, the auction can rise to 11828-842 & 11862-876
f) Break of 11515 can trigger a move lower to 11493 & 11473-465


BankNifty Jul F: 30591 [30650/30428]

Bnf Compo1 12 Market Profile Analysis Dated 16Th July 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 opened at 30510 above the first reference of 30495 but was rejected as it probed lower to make a low of 30428 in the opening 5 minutes to look for new supply but did not sustain below the 30450 level which led to a 200+ point move higher in the IB (Initial Balance) as BNF made highs of 30645 leaving a buying tail at lows. (Click here to view the profile chart for better understanding) However, the auction could not make any further range extension to the upside & after making a balance in a narrow range till the ‘H’ period BNF made a long liquidation break in the ‘I’ period as it entered deep into the morning singles making a pull back low of 30471 after which it got back above VWAP to make a marginal new high of 30650 in the ‘L’ period builing a prominent POC at 30590 where it eventually closed leaving a Normal ‘p’ shape profile for the day which was also an Inside Bar on the daily time frame. BNF has rejected the move away from the composite to the lower side & is now back into the composite still forming a big ‘b’ profile from the 8th of July. BNF needs to stay above 30600 for more upside in the coming sessions as the downside looks limited and inability to sustain above 30600 could see the auction filling the lower part of the ‘b’ profile between 30600 to 30500 & 30430.

  • The BNF Open was a Open Auction In Range (OAIR)
  • The day type was a Normal Day ( ‘p’ profile)
  • Largest volume was traded at 30590 F
  • Vwap of the session was at 30574 with volumes of 19.5 L in a session which traded in a range of 222 points making a High-Low of 30650-30428
  • The Trend Day VWAP of 08/07 at 30857 will be important reference going forward
  • The settlement day Roll Over point is 31400
  • The VWAP & POC of Jun Series is 30914 & 30961 respectively.
  • The VWAP & POC of May Series 30211 & 28940 respectively
  • The VWAP & POC of Apr Series is 30037 & 29762 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 30558-30590-30625

Hypos / Estimates for the next session:

a) BNF needs to stay above 30605 & sustain for a move to 30648-650 & 30698
b) Immediate support below 30590 is at 30560-527 & 30471
c) Above 30700, BNF can probe higher to 30740-766 & 30805
d) Below 30471, lower levels of 30425-390 & 30338-320 could come into play
e) Sustaining above 30805, BNF can give a fresh move up to 30857-883 / 30935 & 31015-35
f) Break of 30320 could trigger a move down 30275/ 30210-170 & 30120

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