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Market Profile Analysis dated 28th March 2022

March 28, 2022March 29, 2022 UG Blog

Nifty Mar F: 17269 [ 17283 / 17025 ]

NF started the day with an OH (Open=High) at 17220 & confirmed an Open Drive Down along with a move away from the 6-day composite as it broke below PDL (Previous Day Low) in the A period itself & went on to make a low of 17061 in the B leaving a long initiative selling tail from 17104 to 17220 after which it made a RE in the C period where it tagged the FA of 17051 & made a low of 17025 barely closing the gap of 17th Mar.

The auction however could not extend any further inspite of staying below VWAP as it began to form a ‘b’ shape profile for the day building volumes at 17044 till the F TPO before an action packed G period completely reversed the probe to the upside with NF first getting into the A period singles and then back into the 6-day composite Value as it tagged the weekly POC of 17260 in the H TPO.

The similar high of 17263 in the I period indicated minor exhaustion in the upmove and triggered a pull back to 17172 in the I TPO before resuming the upmove into the close as it tagged the composite POC of 17267 while making a high of 17283 into the close leaving a Neutral Extreme Up Day.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Drive – Down (OD)
  • The Day type was a Neutral Extreme Day – Up (NeuX)
  • Largest volume was traded at 17247 F
  • Vwap of the session was at 17163 with volumes of 103.4 L and range of 258 points as it made a High-Low of 17283-17025
  • NF confirmed a FA at 17051 on 22/03 and tagged the 1 ATR objective of 17351 on the same day. The 2 ATR objective comes to 17650. This FA got tagged on 28/03 which was the ‘T+4’ Day & is no longer a valid reference..
  • NF confirmed a FA at 16856 on 16/03 and tagged the 1 ATR objective of 17182 on 17/03. The 2 ATR objective comes to 17508. This FA has not been tagged in ‘T+6’ Days & is now a positional reference..
  • The settlement day Roll Over point (March 2022) is 16251
  • The VWAP & POC of Feb 2022 Series is 17183 & 17409 respectively.
  • The VWAP & POC of Jan 2022 Series is 17669 & 17703 respectively.
  • The VWAP & POC of Dec 2021 Series is 17169 & 17240 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 17188-17247-17282

HVN – 16648

(** indicates series POC)

Business Areas for 29th Mar 2022:

Up
17275 – Selling singles (28th Mar)
17315 – Weekly VAH
17359 – 6-day composite VAH
17392 – HVN from 23rd Mar
17433 – Selling Singles (23rd Mar)
17475 – PBH from 17th Feb
17523 – Selling singles (16th Feb)
17591 – 2 ATR from 17025

Down
17247 – dPOC from 28th Mar
17199 – PBH from 28th Mar
17163 – NeuX VWAP (28th Mar)
17104 – SOC from 28th Mar
17044 – HVN from 28th Mar
17014 – Selling tail (25th Mar)
16979 – Extension Handle (16th Mar)
16937 – VPOC from 16th Mar

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


BankNifty Mar F:  35848 [ 35910 / 35080 ]

BNF opened the day with a probe higher to 35695 but was swiftly confirming an Open Test Drive (OTD) to the downside as it broke below previous week’s low & completed the 1 ATR objective of 35186 from the FA of 36057 in the first 15 minutes itself. The auction went on to make a low of 35080 in the IB where it left a long selling tail from 35239 to 35695 stalling just above the 15th Mar HVN of 35070 and began to form a narrow range balance building volumes at 35175 till the F period.

The inability of the sellers to make a RE lower inspite of the strong open then triggered a huge short covering move from the G period onwards as the auction went on to make multiple REs to the upside even giving a mini-spike into the close as it tagged 35910 forming an Outside Day both in terms of range as well as value with a HVN at 35732 in the upper part.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Test Drive – Down (OTD)
  • The Day type was a Normal Day (with a mini spike)
  • Largest volume was traded at 35175 F
  • Vwap of the session was at 35502 with volumes of 40.5 L and range of 529 points as it made a High-Low of 35788-35259
  • BNF confirmed a FA at 35475 on 22/03 and tagged the 1 ATR objective of 36328 on the same day. This FA got tagged on 25/03 which was the ‘T+3’ Day and is no longer a valid reference.
  • BNF confirmed a FA at 36057 on 24/03 and tagged the 1 ATR objective of 35186 on 28/03. The 2 ATR target comes to 34315.
  • The settlement day Roll Over point (March 2022) is 35296
  • The VWAP & POC of Feb 2022 Series is 37712 & 37712 respectively.
  • The VWAP & POC of Jan 2022 Series is 37772 & 38232 respectively.
  • The VWAP & POC of Dec 2021 Series is 36082 & 35100 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 35089-35175-35708

HVNs – 34561 / 34897 / 35070 / 35280 / 35653** / 36451

(** indicates series POC)

Business Areas for 29th Mar 2022:

Up
35910 – Spike high (28th Mar)
36057 – FA from 24th Mar
36150 – Weekly 1.5 IB
36254 – VPOC from 23rd Mar
36390 – PBH from 23rd Mar
36495 – PBH from 23rd Mar
36612 – PBH from 23rd Mar
36738 – Selling Singles (23rd Mar)

Down
35840 – Spike low (28th Mar)
35732 – HVN from 28th Mar
35576 – PBL from 28th Mar
35492 – VWAP from 28th Mar
35368 – Weekly VAH
35238 – SOC from 28th Mar
35125 – PBL from 28th Mar
34935 – Monthly IBL

(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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Nifty and Banknifty Futures with all series combined Open Interest – 28th MAR 2022
Market Profile Analysis dated 29th March 2022

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