Market Profile Analysis dated 21st July 2020

Nifty Jul F:  11170 [ 11185 / 11097 ]

HVNs – 10190 / 10293 / 10475 / 10570 / 10728 / 10764

Previous day’s report ended with this ‘The reference for the next open would be 10987 to 11022

NF made yet another gap up open and this time it was a big one of 114 points as it consolidated in the IB (Initial Balance) staying in a narrow range of just 38 points between 11097 & 11135 till the ‘E’ period. The auction then made a RE (Range Extension) higher in the ‘F’ period and continued the probe higher as it went on to complete the 2 IB objective of 11174 while making a high of 11185 before closing the day at highs yet again indicating that the imbalance is still on with Value for the day also being completely higher. However, the range and volumes for the 2 days this week have been contracting which means trade facilitation is turning poor hence could lead to a retracement unless there is a fresh volume explansion happening in the coming session(s).

Nf 1 Market Profile Analysis Dated 21St July 2020 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 MP Lite chart of the latest profile of NF

  • The NF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Normal Variation Day – Up (NV)
  • Largest volume was traded at 11140 F
  • Vwap of the session was at 11139 with volumes of 110.6 L and range of 88 points as it made a High-Low of 11185-11097
  • NF confirmed a FA at 10921 on 20/07 and tagged the 1 ATR objective of 11072 on 21/07. The 2 ATR target comes to 11222
  • NF confirmed a multi-day FA at 10533 on 06/07 and tagged the 1 ATR objective of 10742 on 06/07. The 2 ATR target is at 10950. This FA has not been tagged and is now positional support.
  • NF confirmed a FA at 10440 on 02/07 and tagged the 2 ATR objective of 10868 on 13/07. This FA has not been tagged and is now positional support.
  • NF confirmed a FA at 10172 on 29/06 and and the tagged the 2 ATR target of 10619 on 06/07. This FA has not been tagged and is now positional support.
  • The 18th June & 01st July Trend Day VWAPs of of 9957 & 10350  would be important support levels.
  • The settlement day Roll Over point (Jul) is 10240
  • The VWAP & POC of Jun Series is 10110 & 10110 respectively.
  • The VWAP & POC of May Series is 9183 & 9109 respectively.
  • The VWAP & POC of Apr Series is 8999 & 9010 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 11101-11140-11154

Main Hypos for 22.07.2020:

a) NF needs to scale above 11195 & sustain for a rise to 11222-245 / 11268-280 & 11304-317
b)The auction below 11168 can test lower levels of 11130-100 / 11080-066 & 11022-10

Extended Hypos:
c) Above 11317, NF can probe higher to 11350 / 11400-439 & 11465-484
d) If 11010 is taken out, NF could fall to 10967*-940 / 10913-896 & 10872-834


BankNifty Jul F: 22815 [ 22900 / 22512 ]
HVNs – 21000 / 21345 / 21430 / / 21723 / 21840 / 22180 / 22720 / 22806

Bnf 1 Market Profile Analysis Dated 21St July 2020 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 MP Lite chart of the latest profile of BNF

Previous day’s report ended with this ‘Value was completely higher so the PLR for the auction remains to the upside but would need a move away from today’s prominent POC.

BNF also made a big gap up opening of 333 points and took support at 22512 but similar to NF made a narrow IB range of 188 points as it made a high of 22700 and remained in this range till the ‘E’ period where it made a spike high of 22774 falling just short of the weekly VPOC of 22789. The auction then consolidated further in a narrow range of 100 points between 22720 & 22620 till the ‘J’ period before making a fresh RE in the ‘K’ period as it got above previous week’s rejection zone of 22820 to 22875 while making new highs for the day at 22900 before closing the day at 22815. Value for the day was once again completely higher with the close also well away from the VAH indicating strong uptrend still in place.

  • The BNF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Normal Variation Day – Up (NV)
  • Largest volume was traded at 22680 F
  • Vwap of the session was at 22689 with volumes of 59.7 L and range of 388 points as it made a High-Low of 22900-22512
  • BNF confirmed a FA at 20901 on 29/06 and the tagged the 2 ATR target of 22625 on 07/07. This FA has not been tagged and is now positional support.
  • The 18th June & 01st July Trend Day VWAPs of 20494 & 21650 would be important support levels.
  • The settlement day Roll Over point (Jul) is 21430
  • The VWAP & POC of Jun Series is 20918 & 21000 respectively.
  • The VWAP & POC of May Series is 18767 & 19633 respectively.
  • The VWAP & POC of Apr Series is 19605 & 19710 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 22569-22680-22716

Main Hypos for 22.07.2020:

a) BNF needs to sustain above 22825 for a rise to 22885-980 / 23100-160* / 23230-313 & 23370-440
b) The auction accepting below 22785 could test 22680-615 / 22569-454 / 22340*-250 & 22170

Extended Hypos:

c) Above 23440, BNF can probe higher to 23510-580 / 23630-700 / 23820-856 & 23991-24100
d) Breaking below 22170, there could be a fall to 22100 / 21980-930 / 21885-827 / 21723*-645 & 21570-514

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