Market Profile Analysis dated 03rd August 2020

Nifty Aug F:  10913 [ 11029 / 10883 ]

HVNs – 10918 / 10970 / 11095 / 11169 / 11263

NF opened with a gap down & stayed below PDL (Previous Day Low) as it moved away from Friday’s Gaussian profile and in the process left a selling tail in the IB after which it went on to make multiple Range Extensions lower to almost tag the 2 IB objective of 10879 as it made a low of 10883 leaving a Double Distribution shaped profile on the first day of the week. The auction closed near the HVN of the day’s lower distribution which was at 10918 and will be the immediate reference for the next open above which the combo of 10947-10952 which is the VWAP-PBH (Pull Back High) along with the HVN of the upper distribution at 10970 will be the important levels going forward for the rest of the week. Staying below 10918, the imbalance could continue towards the weekly VPOC of 10806 in the coming session.

Click here to view the MP Lite chart of the latest profile of NF

  • The NF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Double Distribution Day – Down (DD)
  • Largest volume was traded at 10970 F
  • Vwap of the session was at 10947 with volumes of 137.8 L and range of 146 points as it made a High-Low of 11029-10883
  • The settlement day Roll Over point (Aug) is 11095
  • The VWAP & POC of Jul Series is 10897 & 10803 respectively.
  • The VWAP & POC of Jun Series is 10110 & 10110 respectively.
  • The VWAP & POC of May Series is 9183 & 9109 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 10921-10970-11019

Main Hypos for 04.08.2020:

a) NF needs to sustain above 10918 for a rise to 10932-947 / 10970-995 & 11019-045
b) The auction staying below 10914 could fall to 10896-850 / 10806-800 & 10765

Extended Hypos:
c) Above 11045, NF can probe higher to 11092-110 / 11133-140 & 11169-195
d) If 10765 is taken out, NF could fall to 10744-715 / 10670 & 10627-602


BankNifty Aug F:  21167 [ 21550 / 21085 ]

HVNs – 21615 / 22151

Click here to view the MP Lite chart of the latest profile of BNF

BNF also opened with a gap down and left a selling tail in the IB but then made a C period test of the selling tail after which it formed a balance in the first half of the day forming a ‘b’ shape profile with volumes building at 21350. The auction then went on to make a RE lower in the ‘G’ period as it left an extension handle at 21250 and made lows of 21085 before building volumes at 21180 where the DPOC finally shifted and even closed around it. BNF remains weak below 21180 in the coming session and on the upside the zone of 21250-267 would be the immediate reference on watch along with the HVN of 21350.

  • The BNF Open was a Open Rejection Reverse – Down (ORR)
  • The Day type was a Double Distribution Day – Down (DD)
  • Largest volume was traded at 21180 F
  • Vwap of the session was at 21267 with volumes of 62.4 L and range of 464 points as it made a High-Low of 21550-21085
  • The settlement day Roll Over point (Aug) is 21615
  • The VWAP & POC of Jul Series is 22163 & 22087 respectively.
  • The VWAP & POC of Jun Series is 20918 & 21000 respectively.
  • The VWAP & POC of May Series is 18767 & 19633 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 21129-21180-21344

Main Hypos for 04.08.2020:

a) BNF needs to sustain above 21180 for a rise to 21240-267 / 21318-420 / 21500-580 / 21650-690 & 21765
b) The auction accepting below 21150 could test 21085-039 / 20970 / 20904-850 / 20750-690 & 20589

Extended Hypos:

c) Above 21765, BNF can probe higher to 21855-979 / 22020-068 / 22107-151 / 22200-290 & 22336-393
d) Breaking below 20589, it could fall to 20480 / 20391-300 / 20261-200 / 20139-040 & 19975

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