Market Profile Analysis dated 8th Jan

Nifty Jan F:

NF opened at the lower end of the Neutral Extreme reference & probed into the buying tail of 10803 & immediately traversed through the entire tail tagging the VPOC of 10775 & making a spike low of 10758 inside the first 5 mins after which it sustained above previous day lows confirming an ORR start to the day. NF then probed above the morning highs leaving singles in the ‘A’ period & went on to tag the yPOC pf 10840 completing the 45 degree rule. The ‘C’ period made a similar high of 10844 but could not extend IBH leaving poor highs which indicated buyer exhaustion & after making an inside bar started probing lower in the ‘D’ period when it broke VWAP & tried to enter the morning singles of 10792-10758 but got rejected leaving a pull back low at 10786 which held till close. NF then probed higher making a balance on daily when it was rejected at yVAL of 10825 levels in the ‘H’ period which closed at lows & ‘I’ tried to probe lower & gave a new pull back low of 10797 after which NF trended higher to repair the poor highs making new highs 10872 in the ‘J’ period but thereafter consolidated till close closing near the yPOC & HVN pf 10840. NF has made a nice 3-1-3 profile on a 2-day composite so could just fill that up tomorrow before giving a move away from this balance.

Nf Compo1 5 Market Profile Analysis Dated 8Th Jan 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
    • The day type was a Normal Variation Day (Up)
    • Largest volume was traded at 10848 F
    • Vwap of the session was at 10820 with volumes of 96.7 L in a session which traded a High-Low range of 10872-10758 for a range of 115 points 
    • NF had left a FA at 10678 on 04/01 and tagged the 1 ATR move of 10803 & closed above it. The 2 ATR target comes to 10928
    • NF had left a FA at 10580 on 26/12 & completed the 2 ATR move up to 10862. This FA has not been tagged since the & is now strong support
    • 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 10825-10840-10878

Hypos / Estimates for the next session:

a) NF has closed at HVN of 10840 below which it gets weak for 10815 & 10797
b) Sustaining above 10849, NF can tag 10872 & 10890
c) NF has support lower at 10785 below which it can tag 10758
d) NF has resistance at 10890 & sustaining above it, the auction can probe higher to 10910 & 10935


BankNifty Jan F:

Bnf Compo1 6 Market Profile Analysis Dated 8Th Jan 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 opened around the spike lows & stayed below it probing lower & tagging that VPOC of 27308 & making a low of 27292 taking support just above that HVN of 27285 in the opening 10 minutes. BNF then got back into the previous day range in the ‘B’ period & went on the test the spike highs of 27442 & tested the zone of 27460-470 from where it broke lower yesterday. BNF then made a small balance in yesterday’s low volume zone sustaining above the morning singles of 27345-27292. The ‘E’ period tried to enter these singles but got rejected leaving a pull back low of 27344 which indicated that the auction need to probe higher & from ‘F’ period onwards, BNF did OTF (one time frame) to the upside with ‘J’ period giving that customary afternoon pull back low to VWAP at 27389 after which it not only went past previous day highs but also closed at highs completing a 2 IB Range Extension. BNF has left an extension handle at 27504 & has also closed in a spike from 27589-27632 which will be the levels to watch for tomorrow open.

    • The BNF Open was a Open Auction
    • The day type was a Normal Variation Day (Up)
    • Largest volume was traded at 27420 F
    • Vwap of the session was at 27442 with volumes of 28.3 L in a session which traded a High-Low range of 27633-27292 for a range of 341 points
    • 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 27293-27420-27533

Hypos / Estimates for the next session:

a) BNF closed in a spike of 27589-27633 so Spike Rules in play for tomorrow open
b) Sustaining below 27589, BNF can tag the extension handle of 27504
c) Above 27633-650, BNF can probe higher to tag 27721 & the VPOC of 27788
d) Below 27500, BNF gets weak for a probe lower to 27425-390 & 27330

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