Market Profile Analysis dated 31st Dec

Nifty Jan F:

NF opened with a gap up of more than 50 points & made a freak high of 10985 at open after which it probed lower & got back into previous day range confirming an ORR (Open Rejection Reverse) start which meant that wide POC of 10920 could be tagged as prominent POCs act like a magnet. NF did tag 10920 in the first 30 mins itself & made a low of 10911 but volumes started to decline & the range got very narrow where ‘B’ & ‘C’ periods made inside bars & though ‘D’ made a higher high, it made a high of 10945 which was almost the previous day high. Though the upside looked capped in NF, there was no new supply also to push it lower to test the singles of 10897-10850 which was confirmed when inspite of making new lows in ‘E’ & ‘H’ periods but NF still could not tag 10897 & in fact left poor lows. The profile developing was in total contrast to the Friday’s profile although Value was overlapping. NF made a ‘b’ profile today which suggests long liquidation which has come after the Friday’s ‘p’ profile which indicated short covering. With both shorts & longs out means that Market is looking for new business & looks set to give a move away right at the start of the new year. We have a nice 3-1-3 profile on the 2-day composite with a selling tail at 10945-10985 & a buying tail from 10897-10850 with a nice balance in between at 10908-10932 & a prominent POC of 10920.

Nf Comp Market Profile Analysis Dated 31St Dec 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 a Open Rejection Reverse (Down)
    • The day type was a Normal Day (‘b’ profile)
    • Largest volume was traded at 10916 F
    • Vwap of the session was at 10925 with volumes of 68.7 L in a session which traded a High-Low range of 10985-10902 for a range of 83 points 
    • NF (Jan) had left a FA at 10580 on 26/12 & completed the 2 ATR move up to 10862. This FA is currently on ‘T+4‘ Days
    • NF negated & closed above the FA at 10880 it left on 27/12 & the 1 ATR move up comes to 11021
    • NF closed above the Trend Day VWAP of 21/12 at 10884
    • The VWAP & POC of Dec Series 10796 & 10741 respectively
    • The VWAP & POC of Nov Series 10480 & 10580 respectively. It tagged the VWAP on 11/12 but closed above it
    • The VWAP & POC of 31/10 10250 & 10248 will be important levels going forward

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 10910-10916-10932

Hypos / Estimates for the next session:

a) NF has a 2-day overlapping & prominent POC at 10920 & could give a move away from here
b) Immediate support is at 10902-897 below which NF can tag 10880 & 10860
c) A fresh move above 10932 can get NF to tag 10950 & 10995


BankNifty Jan F:

Bnf Comp Market Profile Analysis Dated 31St Dec 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 gave a consecutive gap up of 100+ points & tagged 27430 (first hypo on upside given in daily report) right at open but could not sustain the new highs which meant it would check the support at 27350 which did not hold & BNF also confirmed a ORR start to the day. Below 27350, BNF raced towards that prominent POC of 27280 where it seemed to be getting some demand as it held the IB lows of 27270 till noon though was unable to get back above VWAP & sustain. BNF had left a selling tail from 27350-27429 so remained weak till it stayed below 27350 & it did attempt to go lower in the ‘G’ period but could only make a low of 27242 where it was swiftly sent back into the IB but then remained in the 80 point range of 27350-27280 for most part of the day building up a very prominent POC at 27320 and a probable multi-day FA at 27242. The 2-day composite in BNF gives a 3-1-3 profile with balance at 27263-27285-27328 so there is a very good chance of BNF moving away from here on the first day of 2019.

    • The BNF Open was a Open Rejection Reverse (Down)
    • The day type was a Normal Day (‘b’ profile)
    • Largest volume was traded at 27320 F
    • Vwap of the session was at 27315 with the lowest volumes of 2018 at 14.6 L in a session which traded a High-Low range of 27430-27242 for a range of 188 points
    • BNF has closed above the Trend Day VWAP of 21/12 at 27200
    • The VWAP & POC of Dec Series 26713 & 26832 respectively
    • The VWAP & POC of Nov Series 25686 & 26218 (Spot) respectively
    • 31st October’s VWAP of 24895 & POC of 24900 will be important levels going forward

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 27287-27320-27336

Hypos / Estimates for the next session:

a) BNF has a very prominent POC at 27320 & could give a move away from here
b) Immediate support is at 27270-265 below which BNF can tag 27225 & 27150
c) A fresh move above 27350 can take BNF back to 27430 & above it 27525-27573

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