Market Profile Analysis dated 17th July

Nifty Jul F:  11676 [11693/11643]

NF gave yet another OAIR (Open Auction In Range) start, the sixth in a row which indicated that the auction could be confined to a narrow range and especially after the move away from the composite yesterday. NF made a low of 11643 at open taking support at previous day’s PBL (Pull Back Low) of 11645 indicating that probe could continue higher after which it did get above PDH (Previous Day High) making highs of 11678 in the ‘B’ period leaving a narrow range of just 36 points in the IB (Initial Balance). (Click here to view the profile chart for better understanding) The auction then made a ‘C’ side range extension higher as it tagged the first extension handle of 11682 it had left on 08/07 making a high of 11689 but could not get more follow up to the upside though it stayed above VWAP & remained in a narrow range of just 25 points till the ‘G’ period. The ‘H’ period then saw a liquidation break as NF broke below VWAP and tested the small morning tail at lows and ‘I’ period then followed with a lower low to tag 11648 but was not able to break the morning lows which indicated that there were no big sellers below VWAP but only weak longs which were forced to cover. NF then rotated back to the developing VAH in the next 3 periods making a high of 11683 before closing at the prominent POC of 11678 leaving a 50 point balanced profile for the day with higher Value. The PLR (Path of Least Resistance) remains to the upside with a big supply point at 11710 which needs to be taken out. Major support remains at 11625 below the immediate support of 11645.

Nf Compo1 13 Market Profile Analysis Dated 17Th 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 11678 F
  • Vwap of the session was at 11670 with volumes of 55.2 L and range of 50 points as it made a High-Low of 11693-11643
  • 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 11662-11678-11683

Hypos / Estimates for the next session:

a) NF needs to sustain above 11685 for a move to 11705-710 & 11743
b) Immediate support is at 11648-645 below which the auction can test 11625-610 & 11589-577
c) Above 11743, NF can probe higher to 11770-773 & 11828
d) Below 11577, auction becomes weak for 11556-552 & 11523-515
e) If 11828 is taken out, the auction can rise to 11842 & 11862-876
f) Break of 11515 can trigger a move lower to 11493 & 11473-465


BankNifty Jul F: 30738 [30778/30542]

Bnf Compo1 13 Market Profile Analysis Dated 17Th 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 around the prominent POC of 30590 making a high of 30639 and a low of 30542 in the first 5 minutes and remained in this range for the entire ‘A’ period checking for new business giving a positive close at 30620. The ‘B’ period then broke higher immediately as the auction scaled above PDH to make a high of 30725 in the IB leaving a buying tail at lows from 30612 to 30542. (Click here to view the profile chart for better understanding) BNF continued to probe higher as it made a ‘C’ period range extension where it tagged the Friday’s (12/07) SOC (Scene Of Crime) of 30766 and the auction seemed to stall here getting stuck in a very narrow range as the ‘D’ period stayed within just 25 points and the attempt to probe higher in the ‘E’ period was met with rejection as it made a new day high of 30778. The auction then made a downside probe for the next 5 periods breaking below VWAP as it made a low of 30641 in the ‘J’ period taking support above the morning tail. BNF got back higher to tag 30766 yet again in the L period to close at the HVN & dPOC of 30740 leaving aother ‘p’ profile with higher value for the day & would be the level to watch in the coming session.

  • The BNF Open was a Open Auction In Range (OAIR)
  • The day type was a Normal Vairation Day – Up ( ‘p’ profile)
  • Largest volume was traded at 30740 F
  • Vwap of the session was at 30697 with volumes of 20.5 L in a session which traded in a range of 236 points making a High-Low of 30778-30542
  • 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 30680-30740-30763

Hypos / Estimates for the next session:

a) BNF needs to stay above 30740 for a move to 30780-805 & 30857-883
b) Immediate support is at 30712-690 below which auction can test 30640 & 30590
c) Above 30883, BNF can probe higher to 30935 & 31015-35
d) Below 30590, lower levels of 30545-525 & 30471 could come into play
e) Sustaining above 31035, BNF can give a fresh move up to 31115-152 & 31210-260
f) Break of 30471 could trigger a move down 30425-390/ 30338-320 & 30275

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