Market Profile Analysis dated 17th Jan

Nifty Jan F:

NF made a OAIR start inside previous day Value with low volumes again to make a crawling first couple of hours today while the auction was rotating in the IB range of just 27 points. NF had made a high of 10949 in the opening minute & was taking support at yVAL of 10923 till noon with volumes also continued to be poor. NF then broke below IBL in the ‘F’ period & probed lower first making a low of 10904 where it seemed to get support just above the extension handle of 10902 but the auction’s failure to get back above the IBL again triggered a big move to the downside as NF trended lower till the ‘J’ period breaking the lower support of 10880 & tagging the VPOC of 10860 while making a low of 10855 completing more than the 3 IB range extension to the downside. The last leg of the move down looked more emotional as the ‘J’ period closed at the highs getting back above the weekly VAH of 10890 and the 45 degree Rule came into play as NF charged back to the dPOC of 10930 and went on to tag the IBH & in fact got above it making a new high for the day at 10958 more than 100 points from the day lows in just over 60 minutes. The auction then saw a retracement signalling the end of the imabalance as it got back to the dPOC & probed below IBL (thanks to the micro 27 point IB range) tagging VWAP with a close around there leaving a Neutral Centre Day with a FA at 10958.

Nf Compo1 12 Market Profile Analysis Dated 17Th 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 In Range
    • The day type was a Neutral Centre Day
    • Largest volume was traded at 10930 F
    • Vwap of the session was at 10915 with volumes of 89.4 L in a session which traded a High-Low range of 10958-10855 for a range of 103 points 
    • NF left a FA at 10958 today and if stays below 10922 at open tomorrow, the 1 ATR move down comes to 10844. However, in case of the FA being negated tomorrow, the 1 ATR move to the upside comes to 11072
    • 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 10906-10930-10950

Hypos / Estimates for the next session:

a) NF has immediate support at 10915 below which it can probe 10890 & 10875
b) Sustaining above 10915 at open, NF can tag 10935 & 10950
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 13 Market Profile Analysis Dated 17Th 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 also had a OAIR start and very much inside yesterday’s Value which meant another low conviction opening with volumes also confirming the lack of any OTF (Other Time Frame participant). BNF made a high of 27635 in the opening minute after which it mostly stayed below yVWAP of 27594 indicating that the upside is capped & the PLR could be lower. BNF made a narrow IB range of just 85 points on a weekly expiry day and this after 2 narrow range days of just 147 & 138 points, the auction was setting up nicely for a multiple extension day. The auction then probed below IBL in the dreaded ‘C’ period where it was rejected back into the IB raising the chances of an FA at lows but BNF had been below VWAP from the open and this entry back into the IB also was met with rejection just below VWAP which trigerred a trending move lower in BNF as it one time framed lower till the ‘J’ period not just breaking the first support of 27530 but also getting below the lower support of 27435 making a low of 27377 almost tagging the VPOC of 27350. BNF has completed the 3 IB range extension down in just the ‘J’ period which closed at highs but the actual confirmation of the lows being confirmed came when BNF got back above VWAP for the first time in the day just when the last hour had begun. The next 30 minutes saw BNF rising more than 150 points from 27510 to 27667 which was the weekly POC plus there was an imbalance of almost 300 points from day’s low so BNF retraced the upmove a bit in the last 30 mins to close near the dPOC of 27575 giving a Neutral Centre Day.

  • The BNF Open was a Open Auction In Range
  • The day type was a Neutral Centre Day
  • Largest volume was traded at 27575 F
  • Vwap of the session was at 27522 with volumes of 27.6 L in a session which traded a High-Low range of 27667-27377 for a range of 290 points
  • 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 27484-27575-27631

Hypos / Estimates for the next session:

a) BNF has immediate support at 27550-530 below which it can tag 27465
b) Sustaining above 27575, the auction can tag highs of 27675
c) Above 27705, BNF can give a fresh leg up to 27785 & 27844
d) Below 27460, BNF gets weak and can probe lower till the VPOC of 27350

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