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Market Profile Analysis dated 21st February 2022

February 22, 2022February 22, 2022 UG Blog

Nifty Feb F: 17205 [ 17354 / 17081 ]

NF opened lower inside previous week’s DD (Double Distribution) singles & made an attempt to bounce but got rejected from just below yVAL of 17250 confirming an ORR (Open Rejection Reverse) as the auction negated the 2 extension handles of 17185 & 17125 from 15th Feb and went on to make a low of 17081 in the A period stopping just above the Trend Day VPOC of 17075 which marked the end of the downside for the day.

The C side then left a PBL (Pull Back Low) at 17104 and scaled up above the day’s VWAP triggering a short covering move along with an OTF (One Time Frame) probe for the next 5 TPOs as NF got back into the 3-day composite Value and tagged the composite VWAP of 17340 but left similar highs of 17354 in the H & I periods stalling just below the weekly HVN of 17359.

This lack of demand led to a liquidation move into the close as the auction broke below the day’s VWAP and went on to leave a closing PBL at 17175 in the K period settling down right at the dPOC of 17205 leaving a Normal Variation Day Up with overlapping to lower Value.


Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Rejection Reverse – Down (ORR which failed)
  • The Day type was a Normal Variation Day – Up (NV)
  • Largest volume was traded at 17205 F
  • Vwap of the session was at 17219 with volumes of 119.8 L and range of 273 points as it made a High-Low of 17354-17081
  • The settlement day Roll Over point (February 2022) is 17165
  • The VWAP & POC of Jan 2022 Series is 17669 & 17703 respectively.
  • The VWAP & POC of Dec 2021 Series is 17169 & 17240 respectively.
  • The VWAP & POC of Nov 2021 Series is 17635 & 17961 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 17168-17205-17330

HVN – 17353** / 17600

(** indicates series POC)

Business Areas for 22nd Feb 2022:

Up
17219 – VWAP from 21st Feb
17270 – SOC from 21st Feb
17330 – VAH from 21st Feb
17359 – Weekly HVN
17424 – Selling Singles (17th Feb)
17470 – Selling Singles (16th Feb)
17530 – Mid-point of selling tail

Down
17175 – closing PBL (21st Feb)
17104 – Buying Singles (21st Feb)
17075 – VPOC from 15th Feb
17017 – Extension Handle (15th Feb)
16980 – Extension Handle (15th Feb)
16917 – SOC from 15th Feb
16862 – Buying Singles (15th Feb)

(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )


BankNifty Feb F:  37657 [ 38059 / 37174 ]

BNF also opened lower & remained below the yPOC of 37584 in the IB as it went on to break below the weekly VAL of 37256 & make a low of 37174 in the A period. The auction however got back into previous week’s Value and made a big C side extension to the upside leaving an extension handle at 37557 and made an OTF probe till the G period where it completed the 2 IB objective of 37940 and got into the selling singles from 17th Feb & made a high of 38059 stalling below the 16th Feb VWAP of 38112.

The auction then left a PBH at 38041 in the I TPO confirming return of supply which triggered a retracement back to the yPOC of 37584 as BNF left a PBL at 37567 before closing the day at 37657 leaving an oustide bar on the daily in terms of the range along with overlapping to higher Value.

BNF now has a smoother 3-day balance with Value at 37516-37723-37885 and needs initiative volumes to start a fresh imbalance in the coming session(s).

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Rejection Reverse – Down (ORR which failed)
  • The Day type was a Normal Variation Day – Up (NV)
  • Largest volume was traded at 37712 F
  • Vwap of the session was at 37675 with volumes of 48.3 L and range of 885 points as it made a High-Low of 38059-37174
  • BNF confirmed a FA at 38475 on 16/02 and tagged the 1 ATR objective of 37593 on 17/02. The 2 ATR target comes to 36711. This FA is on ‘T+4’ Days.
  • BNF confirmed a FA at 36647 on 15/02 and tagged the 2 ATR objective of 38371 on 16/02. This FA is on ‘T+5’ Days.
  • BNF confirmed a multi-day FA at 38826 on 14/02 and tagged the 2 ATR objective of 37155 on the same day. This FA has not been tagged and is now a positional reference.
  • BNF confirmed a FA at 39540 on 03/02 and tagged the 2 ATR objective of 38067 on 07/02. This FA has not been tagged and is now a positional reference.
  • The settlement day Roll Over point (February 2022) is 38240
  • The VWAP & POC of Jan 2022 Series is 37772 & 38232 respectively.
  • The VWAP & POC of Dec 2021 Series is 36082 & 35100 respectively.
  • The VWAP & POC of Nov 2021 Series is 38047 & 39404 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 37578-37712-38035

HVN – 38075** / 38705 / 39270

(** indicates series POC)

Business Areas for 22nd Feb 2022:

Up
37712 – dPOC from 21st Feb
37888 – HVN from 21st Feb
38041 – PBH from 21st Feb
38112 – VWAP from 16th Feb
38237 – VAH from 16th Feb
38385 – Selling singles (16th Feb)
38480 – Weekly VPOC
38693 – VPOC from 11th Feb

Down
37567 – PBL from 21st Feb
37455 – SOC from 21st Feb
37234 – Buying Singles (21st Feb)
37110 – SOC from 15th Feb
37000 – SOC from 15th Feb
36886 – SOC from 15th Feb
36711 – 2 ATR from 38475
36647 – FA from 15th Feb

(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow )

For more tradeable ideas and intraday trading strategies based on MarketProfile and the OrderFlow live charts with OrderFlow analysis Live, subscribe to the trading room. The Vtrender Trading Room hosts India’s largest MarketProfile community live every trading session from 9.15 am to 3.30 pm.

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