Market Profile Analysis dated 26th July

Nifty Aug F:  11327 [11345/11247]

NF made a OH (Open=High) start at 11302 and probed lower breaking below PDL (Previous Day Low) and went on to make new lows for the week at 11247 in the opening 10 minutes but did not attract any new selling as it started to coil leaving double inside bars in ‘B’ & ‘C’ periods. (Click here to view the profile chart for August NF for better understanding). The auction then probed higher in the ‘D’ period completing the 80% Rule as it tagged the composite VAH of 11328 and continued to probe higher completing the 1.5 IB range extension of 11332 in the ‘E’ period & making new high of 11345 in the ‘F’. The ‘G’ period stopped the upside OTF (One Time Frame) move since open as it made a lower low but took support at the IBH for a probe back to 11330 in the ‘I’ period where supply was coming in as the small tail at top of 11333 to 11345 remained intact and this led to a dip to VWAP as NF made a low of 11285 leaving an outside bar. The next 3 periods then remained inside the range of ‘I’ before the last 15 minutes saw NF testing that selling tail as it tagged 11339 before giving a close at the dPOC of 11328 leaving a kind of ‘p’ shape profile. The Value for the day was not just overlapping but in fact almost same as the previous day so will need to see if this balance continues in the coming session(s) or will it lead to an imbalance.

Nf Compo1 20 Market Profile Analysis Dated 26Th July 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 an Open Auction (OA)
  • The day type was a Normal Variation Day – Up
  • Largest volume was traded at 11328 F
  • Vwap of the session was at 11304 with volumes of 87.3 L and range of 98 points as it made a High-Low of 11345-11247
  • The Trend Day POC & VWAP of 19/07 at 11478 11523 are the immediate references on the upside.
  • The higher Trend Day VWAP of 05/07 at 11965 is another important reference higher.
  • The settlement day Roll Over point is 11315
  • The VWAP & POC of Jul Series is 11575 & 11547 respectively.
  • The VWAP & POC of Jun Series is 11833 & 11714 respectively.
  • The VWAP & POC of May Series is 11613 & 11696 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 11290-11328-11336

Hypos / Estimates for the next session:

a) NF needs to sustain above 11335 for a probe higher to 11350-356 & 11380
b) Staying below 11305, the auction can test 11285 & 11265-250
c) Above 11380, NF can probe higher to 11400-410 & 11444-447
d) Below 11250, auction becomes weak for 11230 & 11205
e) If 11447 is taken out, the auction can rise to 11478 & 11505
f) Break of 11205 can trigger a move lower to 11181 & 11165-150


BankNifty Aug F: 29465 [29510/29125]

Bnf Compo1 20 Market Profile Analysis Dated 26Th July 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 moved away from the 2-day balance it was forming through a buying tail from 29205 to 29125 in the IB (Initial Balance) as it made highs of 29344 in the ‘A’ period after which it made double inside bars in the ‘B’ & ‘C’ periods. (Click here to view the profile chart for better understanding) The auction then made a RE (Range Extension) to the upside in the ‘D’ period & followed it with another one in the ‘E’ period as it made highs of 29456 completing the 1.5 IB move higher after which it consolidated forming a balance above VWAP for the next 3 periods before giving a dip below VWAP in the ‘I’ period which was rejected leaving a pull back low at 29331 which indicated that the PLR for the day is still to the upside. BNF then made another inside bar in the ‘J’ period before making a fresh RE to the upside in the ‘K’ period as it hit 29495 and went on to make new day highs of 29510 in the closing 15 minutes almost tagging that FA of 29512 before giving a strong close at 29465 as it left a ‘p’ shape profile for the day with the dPOC at 29415 which will be the level to hold if the auction has to continue to probe higher in the coming session(s).

  • The BNF Open was an Open Auction (OA)
  • The day type was a Normal Variation Day – Up
  • Largest volume was traded at 29415 F
  • Vwap of the session was at 29352 with volumes of 24.9 L in a session which traded in a range of 384 points making a High-Low of 29510-29125
  • BNF had confirmed a FA at 29512 on 23/07 and tagged the 1 ATR move down of 29122 on 24/07. The 2 ATR move lower is at 28732 This FA almost got tagged on 26/07 at ‘T+3’ Days.
  • The Trend Day VWAP of 19/07 at 30085 is the immediate reference on the upside.
  • The higher Trend Day VWAP of 18/07 & 08/07 at 30598 & 30995 remain important references going forward
  • The settlement day Roll Over point is 29250
  • The VWAP & POC of Jul Series is 30425 & 30586 respectively.
  • The VWAP & POC of Jun Series is 30914 & 30961 respectively.
  • The VWAP & POC of May Series 30211 & 28940 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 29263-29415-29470

Hypos / Estimates for the next session:

a) BNF needs to sustain above 29480-512 zone for a rise to 29592 & 29650
b) Immediate support is at 29415-405 below which the auction can test 29335-304 & 29248-220
c) Above 29650, BNF can probe higher to 29725 & 29790
d) Below 29220, lower levels of 29175-155 & 29085-45 could come into play
e) Sustaining above 29790, BNF can give a fresh move up to 29854-901 & 29975
f) Break of 29045 could trigger a move down 28995-975 / 28928 & 28860-853

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