Market Profile Analysis dated 01st December 2020

Nifty Dec F:  13143 [ 13168 / 12993 ]

NF made an OAIR start (in previous day’s range as well as value) with low volumes and took support at Friday’s VAL as it made a low of 12993 in the opening minutes after which it made a slow OTF (One Time Frame) probe higher all day first completing the 80% Rule in the IB (Initial Balance) after which it left a rare ‘C’ period Extension Handle at 13067 and went on to make new all time highs of 13168 and in the process tested the Trend Day extension handle of 13122 of 25th Nov and completed the 2 IB objective of 13141 before closing the day around the POC of 13136 leaving a ‘p’ shape short covering profile. Value for the day was higher indicating absence of initiative sellers though volumes for the day remained on the lower side suggesting poor trade facilitation at these new highs.

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 Normal Variation Day – Up (NV – ‘p’ shape profile)
  • Largest volume was traded at 13136 F
  • Vwap of the session was at 13101 with volumes of 87.8 L and range of 176 points as it made a High-Low of 13168-12993
  • The settlement day Roll Over point (Dec) is 12974
  • The VWAP & POC of Nov Series is 12554 & 12862 respectively.
  • The VWAP & POC of Oct Series is 11793 & 11897 respectively.
  • The VWAP & POC of Sep Series is 11353 & 11560 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 13092-13136-13160

HVNs – 13020* / 13084


BankNifty Dec F:  29892 [ 29990 / 29526 ]

BNF also made an OAIR start and got rejected from below previous VAL of 29548 in the ‘A’ period as it made a low of 29526 after which it left a buying tail in the IB from 29615 to 29526 which meant that the PLR was to the upside. The auction then went on to make a big C side extension as it probed above PDH (Previous Day High) and followed it up with new highs of 29915 in the ‘D’ period where it stalled and gave a retracement over the next 3 periods as it broke below VWAP in the ‘G’ period as it made a low of 29700 and displayed seller exhaustion as it made similar lows in the next 2 periods. This exhaustion led to a short covering move into the close as BNF made new highs of 29990 in the ‘L’ period but the lack of fresh demand saw it made a quick drop back to the dPOC of 29850 before closing the day at 29892. Value for the day was higher and though it looks like it has moved away from the 4-day composite, the volumes and range were on the lower side.

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 Normal Variation Day – Up (NV – ‘p’ shape profile)
  • Largest volume was traded at 29850 F
  • Vwap of the session was at 29793 with volumes of 42.9 L and range of 464 points as it made a High-Low of 29990-29526
  • BNF confirmed a FA at 29000 on 26/11 and tagged the 1 ATR objective of 29677 on the same day. The 2 ATR target comes to 30355.
  • The settlement day Roll Over point (Dec) is 29629
  • The VWAP & POC of Nov Series is 28104 & 29565 respectively.
  • The VWAP & POC of Oct Series is 23740 & 24468 respectively.
  • The VWAP & POC of Sep Series is 22320 & 22320 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 29742-29850-29915

HVNs – 29650* / 30100

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