Market Profile Analysis dated 01st April 2021

Nifty Apr F:  14953 [ 14975 / 14760 ]

NF opened with a gap up but got rejected right from previous day’s high as it left a small selling tail in the IB and probed lower in the ‘C’ & ‘D’ periods where it made a low of 14760 stopping just above the yPOC of 14753 which indicated that the previous day’s buyers were defending this zone. This led to the reversal of the day’s PLR (Path of Least Resistance) to the upside resulting in a late extension handle at 14879 in the ‘H’ period as the auction went on to make new highs for the week at 14975 leaving a Neutral Extreme profile for the day but saw the dPOC shifting higher to 14952 into the close and would be the reference for the next open with today’s VWAP of 14883 being the important support level going forward.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction In Range (OAIR)
  • The Day type was a Neutral Extreme Day – Up (NeuX)
  • Largest volume was traded at 14952 F
  • Vwap of the session was at 14883 with volumes of 114.3 L and range of 215 points as it made a High-Low of 14975-14760
  • The settlement day Roll Over point (Apr) is 14425
  • The VWAP & POC of Mar Series is 14816 & 14737 respectively.
  • The VWAP & POC of Feb Series is 14893 & 15115 respectively.
  • The VWAP & POC of Jan Series is 14288 & 14569 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 14842-14952-14973

HVNs – 14420 / 14621 / 14789 / 14975


BankNifty Apr F:  34155 [ 34250 / 33390 ]

BNF opened higher right in previous day’s selling tail of 33706 to 33946 as it tagged 33750 but was swiftly rejected leading to a probe lower as it even made a RE (Range Extension) in the ‘D’ period where it made a low of 33390 but could not extend further as it filled up the upper part of Wednesday’s ‘b’ shape profile forming an overlapping POC at 34457 which was not a good sign for the sellers. The second half of the day then saw a big short covering move as the auction first made a RE to the upside in the ‘I’ period and followed it up with an extension handle at 33825 in the ‘J’ period which led to new highs for the week at 34250 as BNF confirmed a Neutral Extreme Day Up closing around the HVN of 34175 which would be the reference for the next open. On the downside, 33983 would be the first level on watch below which the extension handle of 33825 and today’s VWAP of 33761 would be the important support points for the coming week.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auction In Range (OAIR)
  • The Day type was a Neutral Extreme Day – Up (NeuX)
  • Largest volume was traded at 33457 F
  • Vwap of the session was at 33761 with volumes of 52.1 L and range of 860 points as it made a High-Low of 34250-33390
  • The settlement day Roll Over point (Apr) is 33250
  • The VWAP & POC of Mar Series is 34618 & 33870 respectively.
  • The VWAP & POC of Feb Series is 35530 & 35820 respectively.
  • The VWAP & POC of Jan Series is 31597 & 32062 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 33390-33457-33970

HVNs – 33250 / 33600 / 34050

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