Market Profile Analysis dated 01st January 2021

Nifty Jan F:  14054 [ 14074 / 13997 ]

NF made an OAIR start on the first day of 2021 but made a move away from the 3-day balance allbeit on lower volumes as it left a buying tail in the IB from 14034 to 13997 and went on to make a C side extension where it briefly scaled above PDH negating the FA of 14053 but gave the typical retracement to VWAP breaking below it in the ‘F’ period and testing the morning singles to leave a PBL at 14031. This defence of the buying tail meant that the morning buyers were still in as the auction started a fresh probe higher and made small but mutiple REs on the upside in the ‘G’, ‘I’ & ‘K’ periods as it hit 14074 but saw profit booking by the longs as NF gave a pull back to 14038 before closing at the dPOC of 14055 leaving a ‘p’ shape profile for the day with higher Value. However, both the range & volumes were very low and hence initiative volumes would be needed above 14055 for the PLR to remain on the upside in the coming session(s).

Click here to view NF move away from the 3-day composite on MPLite

  • The NF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Variation Day – Up (‘p’ profile)
  • Largest volume was traded at 14055 F
  • Vwap of the session was at 14047 with volumes of 45.6 L and range of 77 points as it made a High-Low of 14074-13997
  • NF confirmed a FA at 14054 on 31/12 and the 1 ATR objective comes to 13882. This FA was visited on the very next day and hence stands negated.
  • The settlement day Roll Over point (Jan) is 14007
  • The VWAP & POC of Dec Series is 13528 & 13528 respectively.
  • The VWAP & POC of Nov Series is 12554 & 12862 respectively.
  • The VWAP & POC of Oct Series is 11793 & 11897 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 14038-14055-14062

HVNs – 13970 / 14051


BankNifty Jan F:  31309 [ 31425 / 31250 ]

BNF made an OL (Open=Low) start at 31250 and went on to make a high of 31425 in the A period completing the 80% Rule in the 3-day composite and remained in this narrow range of 175 points all day continuing to build volumes around the 31330 level as it formed a double inside bar both in terms of Value & Range. The auction has been coiling and has a very good chance of giving a move away from this 4-day composite in the coming session(s).

Click here to view the 4-day composite in BNF on MPLite

  • The BNF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Day (Double Inside Bar)
  • Largest volume was traded at 31335 F
  • Vwap of the session was at 31343 with volumes of 24 L and range of 175 points as it made a High-Low of 31425-31250
  • The settlement day Roll Over point (Jan) is 31389
  • The VWAP & POC of Dec Series is 30270 & 30766 respectively.
  • The VWAP & POC of Nov Series is 28104 & 29565 respectively.
  • The VWAP & POC of Oct Series is 23740 & 24468 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 31306-31335-31370

HVNs – 31410

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