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Market Profile Analysis dated 22nd February 2022

February 23, 2022February 23, 2022 UG Blog

Nifty Feb F: 17073 [ 17145 / 16851 ]

NF opened with a huge gap down of 306 points negating the 15th Feb Extension Handle of 16980 but settled down into an OAOR as it made a narrow 138 points range IB (Initial Balance) where it tested that day’s initiative singles of 16862 but made similar lows of 16855 & 16851 indicating exhaustion to the downside.

The auction then made couple of REs (Range Extension) to the upside in the D & E periods but could only manage 17008 forcing a probe back into the IB & below the day’s VWAP but once again found the sellers doing a bad job as it left a PBL at 16879 in the H period which in turn triggered a big short covering move in the J TPO which left an extension handle at 17008 & made new highs of 17069 and continued this imbalance in the K period completing the 2 IB objective of 17128 while making a high of 17145.

NF then saw profit booking by the longs as it left a responsive selling tail from 17119 to 17145 and a retracement back to 17036 into the close leaving a second successive Normal Variation Day Up but with completely lower Value.


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 Normal Variation Day – Up (NV)
  • Largest volume was traded at 16919 F
  • Vwap of the session was at 16977 with volumes of 148.2 L and range of 294 points as it made a High-Low of 17145-16851
  • 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 16860-16919-17015

HVN – 17353** / 17600

(** indicates series POC)

Business Areas for 23rd Feb 2022:

Up
17119 – Selling tail (22nd Feb)
17165 – Feb RO point
17205 – VPOC 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)

Down
17052 – Weekly VAL
17008 – Extension Handle (22nd Feb)
16977 – VWAP from 22nd Feb
16930 – SOC from 22nd Feb
16879 – PBL from 22nd Feb
16801 – Buying Singles (15th Feb)
16765 – 1.5 Monthly IB
16720 – Weekly 1 ATR target
16681 – Monthly 1 ATR objective

(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:  37351 [ 37639 / 36906 ]

BNF also opened with a massive gap down of 722 points but took support just above the SOC of 36886 from 15th Feb as it left an initiative buying tail in the IB and made a slow probe higher till the E period where it made a high of 37360.

The auction then reversed to the downside till the H TPO as it broke below the day’s VWAP but could only leave a PBL at 37046 triggering a quick short covering move in the J & K periods as it got into the 3-day composite Value & almost tagged the composite VWAP of 37668 while making a high of 37639 but left a responsive selling tail till 37548 and got back to 37290 into the close leaving a 3-1-3 profile for the day with completely lower Value.

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 Normal Variation Day – Up (NV)
  • Largest volume was traded at 37130 F
  • Vwap of the session was at 37243 with volumes of 46.8 L and range of 732 points as it made a High-Low of 37639-36906
  • 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+5’ 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+6’ 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 37007-37130-37356

HVN – 38075** / 38705 / 39270

(** indicates series POC)

Business Areas for 23rd Feb 2022:

Up
37356 – VAH from 22nd Feb
37548 – Selling Singles (22nd Feb)
37712 – VPOC 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)

Down
37290 – closing PBL (22nd Feb)
37130 – dPOC from 22nd Feb
36982 – Buying singles
36886 – SOC from 15th Feb
36711 – 2 ATR from 38475
36554 – Daily Swing Low (24th Jan)
36478 – Extension Handle (03rd Jan)
36346 – Weekly 1 ATR target

(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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