Market Profile Analysis dated 02nd December

Market Profile Analysis dated 02nd December 1

Nifty Dec F: 12091 [ 12138/ 12052 ]

HVNs – 11914 / 11954 / 12022 / (12093-100) / 12128-143 / 12192

NF opened higher with a freak OH tick at 12135 but was unable to get above the HVZ (High Volume Zone) of 12128-12143 as it stayed inside the previous day’s range all day making a similar low of 12052 forming another balanced profile with an overlapping value and almost similar POC at 12094 and looks set to give a move from this POC in the coming session to test one of the VPOCs of 12186 or 12022.

Market Profile Analysis dated 02nd December 2

(Click here to view the 2 day balance in NF)

  • The NF Open was an Open Auction In Range (OAIR)
  • The day type was a Normal Variation Day – Down (NV)
  • Largest volume was traded at 12093 F
  • Vwap of the session was at 12094 with volumes of 66.3 L and range of 86 points as it made a High-Low of 12138-12052
  • The Trend Day VWAP of 29/10 at 11848 will be important reference on the downside.
  • The settlement day Roll Over point (Dec) is 12153
  • The VWAP & POC of Nov Series is 11954 & 11910 respectively.
  • The VWAP & POC of Oct Series is 11461 & 11365 respectively.
  • The VWAP & POC of Sep Series is 11127 & 10960 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 12079-12093-12108

Hypos / Estimates for the next session:

a) NF needs to get above 12111 & sustain for a move to 12138-141 / 12166 & 12181-192
b) Immediate support is at 12070 below which the auction could test 12050-040 / 12022* & 12000
c) Above 12192, NF can probe higher to 12215-224 / 12245 & 11281
d) Below 12000, auction becomes weak for 11970 / 11955 & 11930
e) If 12281 is taken out, the auction go up to to 12310 & 12340
f) Break of 11930 can trigger a move lower to 11914*-901 / 11885 & 11860-852


BankNifty Dec F: 31921 [ 32080 / 31762 ]

HVNs – 31426 / 31470 / (31628) / 31680 / 31770 / 31910] / 32000 / [32150-160

Market Profile Analysis dated 02nd December 3

BNF also opened higher but could not get above the supply zone of 32075 after which it probed lower and went on to break below the PDL (Previous Day Low) after making a RE in the ‘D’ period. The auction then stayed below the IBL of 31870 for the next 4 periods and made a new RE in the ‘H’ period as it tagged the VPOC of 31771 which was also the 1.5 IB extension making lows of 31762 but could not extend any further & ended the day above VWAP and at the dPOC of 31910. Similar to NF, BNF is also forming a nice 2-day balanced profile and could give a move away from the 2-day POC of 31920

(Click here to view the 2-day composite profile in BNF)

  • The BNF Open was an Open Auction In Range (OAIR)
  • The day type was a Normal Variation Day – Down (NV)
  • Largest volume was traded at 31910 F
  • Vwap of the session was at 31882 with volumes of 24.5 L and range of 318 points as it made a High-Low of 32080-31762
  • The Trend Day VWAP of 25/11 at 31532 will be important reference on the downside.
  • The Trend Day VWAP of 06/11 at 30587 will be important reference on the downside.
  • BNF had confirmed a FA at 30175 on 06/11 and tagged the 2 ATR target of 31172. This FA has not been tagged since & hence is now positional support
  • The settlement day Roll Over point (Dec) is 32160
  • The VWAP of Nov Series is 30699.
  • The VWAP & POC of Oct Series is 28784 & 28415 respectively.
  • The VWAP & POC of Sep Series is 28416 & 27160 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 31822-31910-31932

Hypos / Estimates for the next session:

a) BNF needs to sustain above 31910 for a rise to 31960-970 / 32010 / 32060-75 & 32120
b) Staying below 31910, the auction could test 31864-830 / 31785-760 & 31700
c) Above 32120, BNF can probe higher to 32170-185 / 32222-265 & 32326
d) Below 31700, lower levels of 31645 / 31600-585 & 31532 could be tagged
e) If 32326 is taken out, BNF can give a fresh move up to 32376 / 32465 & 32503
f) Below 31532, we could see lower levels of 31485 / 31426 & 31374

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