Market Profile Analysis dated 18th Jan

Nifty Jan F:

NF opened with a gap up and tried to get above the FA of 10958 but was met with swift rejection and once it got back into previous day’s Value, the auction completed the 80% Rule from 10950 (yVAH) to 10904 (yVAL) in the first 20 minutes itself after which it gave a bounce to VWAP but got resisted at the yPOC of 10930. This rejection signaled that the downside probe is still not over and NF went back below yVAL & broke the ‘A’ period lows to tag the weekly VAH of 10890 which was also the ‘B’ period lows. Then we got the dreaded ‘C’ period extension down when NF made a low of 10875 which was also the start of the buying tail of previous day and as happens most of the times the ‘C’ period was unable to hold on to the IB extension & went on to close inside the IB which had a relatively large range which meant that the auction had played out its range for the day unless some volume expansion happened. NF started to balance between 10930 to 10890 for the remaining part of the day making a ‘b’ profile and leaving a probable multi-day FA at 10875 with the previous day FA of 10958 still in play. NF has made a nice 3-day bell profile after moving higher through the ‘p’ profile on 15/01 but will need to move away from this balance to continue the trend higher.

Nf Compo1 13 Market Profile Analysis Dated 18Th 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 Normal Variation Day (‘b’ profile)
    • Largest volume was traded at 10920 F
    • Vwap of the session was at 10910 with volumes of 80.1 L in a session which traded a High-Low range of 10964-10875 for a range of 99 points 
    • NF had left a FA at 10958 on 17/01 and was swiftly rejected at open from there. If NF stays below 10922, the 1 ATR move down comes to 10844. However, in case of the FA being negated, 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. This FA has not been tagged and is now strong support
    • NF had left a FA at 10580 on 26/12 & completed the 2 ATR move up to 10862. This FA has not been tagged and 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 10895-10920-10929

Hypos / Estimates for the next session:

a) NF has immediate resistance at 10940 above which it can tag 10960
b) Below 10910, the auction can probe down to 10890 and 10875
c) NF has strong supply at 10960-968 zone and sustaining above it can probe higher to 10985-995 and 11022
d) Below 10870, NF would get weak for a move lower to 10845 & 10820


BankNifty Jan F:

Bnf Compo1 14 Market Profile Analysis Dated 18Th 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 opened with a gap up near the previous day highs but was not able to get above the weekly POC of 27664 and like yesterday stayed below the opening minute high which signaled that the auction may continue to balance after the swift up move it had in the last hour of the previous day. The ‘A’ period made a big down bar and got supported at yVWAP after which the ‘B’ period made an inside bar indicating that BNF could just make rotations in previous Value and around the HVN of 27575. The ‘C’ period tried to probe lower but was rejected back into the IB and the bounce above VWAP was stalled near the ‘B’ period highs and the morning singles of 27608-27652. The auction then got stuck in a narrow range of just 80 points between 27600 & the IBL of 27522 with volumes also being very low confirming that it was just the locals who were in play. BNF tried to probe higher in the ‘J’ period when it got into the morning singles but was met with supply coming in leaving a pull back high of 27633 after which it made a trip back to the IBL & even went below it in the ‘K’ period but could not break the ‘C’ period lows and in the last 45 minutes stayed in the range between IBL & VWAP building a wide POC at 27560 with the day’s Value being completely inside previous Value. Even on the weekly timeframe, BNF not only made an inside week but even the weekly Value was completely inside previous week’s Value which means that the balance may be coming to an end and we could see a breakaway move in it soon.

  • The BNF Open was a Open Auction In Range
  • The day type was a Normal Variation Day (‘b’ profile)
  • Largest volume was traded at 27560 F
  • Vwap of the session was at 27562 with volumes of 18.5 L in a session which traded a High-Low range of 27676-27505 for a range of 171 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 27521-27560-27576

Hypos / Estimates for the next session:

a) BNF has been forming a composite balance with a prominent POC around 27560 from where it could give a move away
b) Above 27624, BNF can tag 27680 & the VPOC of 27748
c) The auction will be weak if stays below 27560 for a probe lower to 27477-448 with 27505 being a minor support
d) Below 27448, BNF can fall to test the swing low of 27377 & the vPOC of 27350
e) Above 27748, BNF can rise to 27804 & 27850

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