Market Profile Analysis dated 02nd September 2020

Nifty Sep F:  11561 [ 11576 / 11445 ]

NF opened lower but continued to form a balance in the 2-day composite as it took support just above the composite POC in the ‘A’ period where it made a low of 11462 after which it probed higher to leave a high of 11533 in the ‘B’ period leaving a slightly large IB range of 70 points. The auction then made the infamous C side extension lower as it broke below 11458 and made a low of 11445 but as happens most of the times in the dhoka period was rejected back into the IB indicating weak & laggard sellers coming into the market. NF then remained in the IB range for most part of the day forming a balanced profile while it made 2 more attempts to break below IBL in the ‘D’ & ‘G’ periods but left poor lows which gave more proof about the sellers not being able to control the auction and this led to a short covering move in the ‘J’ & ‘K’ periods which forcing the trapped sellers to exit as they left an extension handle at 11533 and also confirmed a FA at lows as NF went on to tag 11576 which was also the VAH of the 2-day composite before closing the day at 11561 leaving a Neutral Extreme profile which was also a double inside bar on the daily. We now have a 3-day composite with Value at 11388-11482-11566 and the reference for the next open would be from 11533 to 11576.

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

  • The NF Open was a Open Auction In Range (OAIR)
  • The Day type was a Neutral Extreme Day – Up (NeuX)
  • Largest volume was traded at 11485 F
  • Vwap of the session was at 11501 with volumes of 102.2 L and range of 131 points as it made a High-Low of 11576-11443
  • NF confirmed a FA at 11445 on 02/09 and almost tagged the 1 ATR objective of 11587 on the same day. The 2 ATR objective comes to and 11730.
  • 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 11452-11485-11527

HVNs – 11485 / 11664

Main Hypos for 03.09.2020:

a) NF needs to sustain above 11566 for a rise to 11587-602 / 11645-665 & 11691-730
b) The auction staying below 11555 could test 11537-500 / 11482-460 & 11430-407

Extended Hypos:
c) Above 11730, NF can probe higher to 11745-773* / 11795-829 & 11850*-871
d) If 11407 is taken out, NF could fall to 11388-345* / 11305* & 11280-250*


BankNifty Sep F:  23921 [ 23974 / 23500 ]

BNF opened with a small gap down of 60 points and continued to probe lower in the IB as it left a selling tail from 23772 to 23897 while making a low of 23625 after which it went on to make a C side extension where it tested PDL but did not sustain the new lows and started to form a ‘b’ shape profile in a narrow range till the ‘H’ period. The auction then made another attempt to break lower in the ‘I’ period but left poor lows indicating presence of weak players on the sell side and this led to a short covering move into the close as BNF not only negated the morning selling tail but went on to make a RE on the upside as it tagged 23974 before closing the day at 23921 almost forming a double inside bar on the daily which in turn has given a 3-day composite ‘b’ shape profile with Value at 23517-23707-24065 and it remains to be seen if it continues to remain in this balance or gives a move away from here in the coming session(s).

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

  • The BNF Open was a Open Auction In Range (OAIR) 
  • The Day type was a Neutral Extreme Day – Up (NeuX)
  • Largest volume was traded at 23717 F
  • Vwap of the session was at 23704 with volumes of 71.8 L and range of 473 points as it made a High-Low of 23974-23500
  • 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 23518-23717-23766

HVNs – 21590 / 22175 / 22260

Main Hypos for 03.09.2020:

a) BNF needs to sustain above 23974 for a rise to 24065-095 / 24180 / 24258-285 / 24380-466 & 24585
b) The auction accepting below 23920 could test 23860-775 / 23707-660 / 23598-570 / 23500-469 & 23392-329

Extended Hypos:

c) Above 24585, BNF can probe higher to 24636-775 / 24850-950 / 25031-150 & 25200-270
d) Breaking below 23329, it could fall to 23219-129 / 23066*-22956 / 22850-800* / 22720-621 & 22560

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