Market Profile Analysis dated 01st September 2020

Nifty Sep F:  11511 [ 11590 / 11373 ]

NF opened higher right at the immediate PBH of 11448 and got rejected as it formed a large 80 point range in the first 5 minutes while making a low of 11373 still unable to break below previous day’s poor lows in the zone of 11350 indicating that the last leg of the fall was more emotional. The auction then formed a balance in previous day’s low volume zone with a slow probe to the upside with the first attempt to make a RE higher in the ‘E’ period stalling at the Trend Day VWAP and the extension handle of 11545 after which it made a fresh RE in the ‘H’ period as it made new highs of 11590 tagging the 1.5 IB extension but could not continue higher which led to a retracment to 11433 in the ‘K’ period as it left a PBL there before closing the day around the dPOC to leave a balanced profile with both range & value being inside previous day. The 2-day composite represents a ‘b’ shape long liquidation profile with Value at 11370-11458-11576 and the chart of the same can be seen below.

Click here to view the latest profile chart of NF on MPLite

  • The NF Open was a Open Auction In Range (OAOR)
  • The Day type was a Normal Variation Day – Up (NV)
  • Largest volume was traded at 11490 F
  • Vwap of the session was at 11487 with volumes of 161.1 L and range of 217 points as it made a High-Low of 11590-11373
  • The settlement day Roll Over point (Sep) is 11607
  • The VWAP & POC of Aug Series is 11311 & 11311 respectively.
  • The VWAP & POC of Jul Series is 10897 & 10803 respectively.
  • The VWAP & POC of Jun Series is 10110 & 10110 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 11443-11490-11528

HVNs – 11485 / 11664

Main Hypos for 02.09.2020:

a) NF needs to sustain above 11528 for a rise to 11548-577 / 11602-610 & 11645-665
b) The auction staying below 11508 could fall to 11485-455 / 11430-407 & 11375-345*

Extended Hypos:
c) Above 11665, NF can probe higher to 11691-706 / 11723-743 & 11773-793
d) If 11345 is taken out, NF could fall to 11305* / 11280-250* & 11211


BankNifty Sep F:  23915 [ 24200 / 23508 ]

BNF opened around the yPOC of 23800 but probed lower as it took support at 23557 after which it went on to test the Trend Day VWAP as it made a high of 24178 in the ‘A’ period leaving another large IB of 621 points. The rejection from yVWAP led to a fresh move to the downside as the auction went on to tag new lows for the day at 23508 in the ‘E’ period but was swiftly sent back into the IB as it started to form a balance before it made a probe higher in the ‘H’ period as it made a marginal new high at 24200 which even confirmed a FA at lows but was once again rejected from this zone resulting in a quick fall to 23594 over the next 3 periods as it left a PBL there before closing the day at 23915 leaving a Normal Day plus a Gaussian profile completely inside previous day’s Value with rejection at both ends. BankNifty has a good chance to give a move away from here provided one of today’s extremes is taken out & sustained in the coming session.

Click here to view the latest profile in BNF on MP Lite

  • The BNF Open was a Open Auction In Range (OAOR) 
  • The Day type was a Normal Day (Gaussian Profile)
  • Largest volume was traded at 23710 F
  • Vwap of the session was at 23848 with volumes of 100.6 L and range of 692 points as it made a High-Low of 24200-23508
  • The settlement day Roll Over point (Sep) is 23576
  • The VWAP & POC of Aug Series is 22444 & 21595 respectively.
  • The VWAP & POC of Jul Series is 22163 & 22087 respectively.
  • The VWAP & POC of Jun Series is 20918 & 21000 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 23649-23710-23984

HVNs – 21590 / 22175 / 22260

Main Hypos for 02.09.2020:

a) BNF needs to sustain above 23945 for a rise to 24000-095 / 24180 / 24258-285 / 24380-466 & 24585
b) The auction accepting below 23875 could test 23800-748 / 23694-655 / 23560-469 / 23392-329 & 23219*

Extended Hypos:

c) Above 24585, BNF can probe higher to 24636-775 / 24850-950 / 25031-150 & 25200-270
d) Breaking below 23219, it could fall to 23129-066* / 29256 / 22850-800* / 22720-621 & 22560

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