Market Profile Analysis dated 01st February 2021

Nifty Feb F:  14351 [ 14399 / 13696 ]

NF opened above the spike zone of 13755 to 13666 but probed back into taking support at 13696 in the IB (Initial Balance) as it left a small but important buying tail at lows which indicated that the demand was coming back resulting in a Range Extension higher from the C period itself as the auction completed the 80% Rule in the 2-day balance of 13795 to 13909 in the E period and went on to make a higher high of 13948 in the ‘F’ period which saw good profit booking by the longs as it gave a retracement back to the combo of day’s VWAP & the IBH in the ‘G’ period where it left a Pull Back Low at 13800. The ‘H’ period then initiated a fresh leg on the upside leaving an extension handle at 13948 along with a buying tail till 14055 and trended higher for the rest of the day as it made a huge move of 450 points almost tagging the VPOC of 14407 of 25th Jan before closing the day at 14351. The higher extension handle of 14264 would be the first important reference on the downside with the auction seem to be headed towards the higher levels of 14523 / 14618 & 14660 in the coming session(s).

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 Trend Day – Up (TD)
  • Largest volume was traded at 13800 F
  • Vwap of the session was at 14033 with volumes of 252.4 L and range of 702 points as it made a High-Low of 14399-13696
  • The settlement day Roll Over point (Feb) is 13809
  • The VWAP & POC of Jan Series is 14288 & 14569 respectively.
  • The VWAP & POC of Dec Series is 13528 & 13528 respectively.
  • The VWAP & POC of Nov Series is 12554 & 12862 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 13697-13800-14168

HVNs – 13886 / 14015 / 14172


BankNifty Feb F:  33276 [ 33485 / 30942 ]

BNF opened with a gap up of more than 300 points showing much more intent as it formed a balance in Friday’s selling tail of 31030 to 31248 in the IB after which it made multiple REs higher till the F period where it hit 31680 almost completing the 3 IB objective of 31715 and this gave a retracement to VWAP as the auction left a PBL at 31268 in the ‘G’ period. The ‘H’ period took off like a rocket spiralling into the orbit as BNF trended higher for the rest of the day as it left a long buying tail in the middle of the profile from 32357 to 31680 not only making new ATH as it surpassed the previous highs of 32972 but went on to complete almost the 10 IB move tagging highs of 33485 into the close leaving a huge 2542 point range for the day. The immediate reference on the downside would be 33258 below which there is a small buying tail of 33013 to 32873 which could serve as support zone.

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 Trend Day – Up (TD)
  • Largest volume was traded at 31140 F
  • Vwap of the session was at 32114 with volumes of 104.8 L and range of 2542 points as it made a High-Low of 33485-30942
  • The settlement day Roll Over point (Feb) is 30445
  • The VWAP & POC of Jan Series is 31597 & 32062 respectively.
  • The VWAP & POC of Dec Series is 30270 & 30766 respectively.
  • The VWAP & POC of Nov Series is 28104 & 29565 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 30949-31140-32608

HVNs – 30041 / 30534

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