Market Profile Analysis dated 21st January 2021

Nifty Jan F:  14598 [ 14765 / 14508 ]

NF opened with a gap up hitting new highs for the series at 14740 in the ‘A’ period but settled down into an OAOR (Open Auction Out of Range) forming a very narrow range IB (Initial Balance) of just 48 points which also included a buying tail from 14713 which meant that the PLR remained to the upside. The auction then made a small C side extension higher and followed it up with another one in the D period as it tagged 14757 but the upmove started to show signs of exhaustion as it formed similar highs over the next 4 periods and inspite of staying above IBH for a couple of hours and the narrow IB range struggled to even tag the 1.5 IB objective of 14764 which confirmed a case of poor trade facilitation at these new highs. The ‘I’ period then made an attempt to break higher as it repaired the poor highs of the day’s profile while making new highs of 14765 finally completing the 1.5 IB target but was rejected which made it clear that no fresh demand is coming in and this empowered the sellers to strike with full force as NF broke below VWAP in the ‘J’ period for the first time post IB triggering a massive fall over the next 2 periods as it not only got back into previous day’s range and Value but went on to break below PDL (Previous Day Low) while making a low of 14508 in the ‘L’ period. The auction bounced back sharply in the last 15 minutes as it gave a pull back to 14645 before closing the day at 14598 leaving a Neutral Extreme Profile with a daily extension handle at 14683 which is the level that needs to be re-captured by the bulls to close the series on a strong note. On the downside, NF would remain weak below 14590 for a test of 14540 below which the Trend Day VWAP of 14482 would be the important reference in the coming session(s).

Nf 3 Market Profile Analysis Dated 21St January 2021 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

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Neutral Extreme Day – Down (NeuX)
  • Largest volume was traded at 14729 F
  • Vwap of the session was at 14686 with volumes of 99.2 L and range of 257 points as it made a High-Low of 14765-14508
  • NF confirmed a FA at 14077 on 05/01 and tagged the 2 ATR objective of 14413 on 11/01. This FA has not been tagged and is now positional support.
  • The settlement day Roll Over point (Jan) is 14007
  • The VWAP & POC of Dec Series is 13528 & 13528 respectively.
  • The VWAP & POC of Nov Series is 12554 & 12862 respectively.
  • The VWAP & POC of Oct Series is 11793 & 11897 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 14648-14729-14762

HVNs – 13970 / 14040 / 14120 / 14220 / 14460 / 14594*


BankNifty Jan F:  32229 [ 32899 / 32001 ]

Bnf 3 Market Profile Analysis Dated 21St January 2021 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 of 164 points but struggled to attract volumes as it remained in a narrow range of just 111 points in the IB and continued to be lethargic for the first half of the day as it made a marignal new high of 32798 in the ‘D’ period but could not extend any further. As often seen with an OAOR start, the G period then gave the important move away from this balance with the help of an extension handle as the auction made a fresh RE on the upside and hitting new highs for the series at 32899 in the process completed the 2 IB objective for the day. The ‘H’ period however could not extend any further and infact left a small tail at the top as it formed an inside bar after which BNF tested that extension handle of 32798 in the ‘I’ period which seemed to have held at the first attempt but the subsequent break of the important combination of IBH & day’s VWAP which had aligned at 32780 in the ‘J’ period led to a plunge of 780 points in 90 minutes as the auction made a low of 32001 in the ‘L’ period which saw good short covering giving a bounce back to 32350 into the close before closing the Neutral Extreme Day at 32229. Today’s profile has couple of extension handles at 32501 & 32683 which would be the references on the upside above 32350 whereas on the downside today’s buying tail of 32167 to 32001 would be the support zone.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Neutral Extreme Day – Down (NeuX)
  • Largest volume was traded at 32769 F
  • Vwap of the session was at 32598 with volumes of 49.4 L and range of 898 points as it made a High-Low of 32899-32001
  • The settlement day Roll Over point (Jan) is 31389
  • The VWAP & POC of Dec Series is 30270 & 30766 respectively.
  • The VWAP & POC of Nov Series is 28104 & 29565 respectively.
  • The VWAP & POC of Oct Series is 23740 & 24468 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 32506-32769-32899

HVNs – 31410 / 31900 / 32149* / 32406 / 32686

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