Market Profile Analysis dated 03rd December 2020

Nifty Dec F:  13192 [ 13228 / 13153 ]

NF opened with a gap up as it moved away from the 2-day balance to tag new highs of 13220 at open but remained stuck in a narrow range of just 49 points in the IB (Initial Balance) getting rejected from previous day’s range as it made a low of 13171. The auction then made a typical C side extension on the upside to hit 13228 but could not sustain above IBH leading to a quick probe to the day’s VWAP after which it began to coil around it building a prominent POC at 13190 till the ‘F’ period and made an attempt to extend the range on the downside in the ‘G’ period confriming a FA (Failed Auction) at highs but once again could not sustain outside the IB. NF then made another slow probe back to VWAP leaving a PBH (Pull Back High) at 13215 in the ‘J’ period as it got back to building volumes at 13190 and made a low volume swipe on the downside in the ‘K’ period while making new lows for the day at 13153 but saw demand coming in right above previous day’s POC of 13151 which pushed the auction back to the magnetic POC of 13190 into the close leaving a perfect Gaussian Profile for the day with a prominent POC forming a nice set up for a move away from here in the coming session(s).

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Neutral Day (Gaussian Profile)
  • Largest volume was traded at 13190 F
  • Vwap of the session was at 13191 with volumes of 75.9 L and range of 75 points as it made a High-Low of 13228-13153
  • The settlement day Roll Over point (Dec) is 12974
  • The VWAP & POC of Nov Series is 12554 & 12862 respectively.
  • The VWAP & POC of Oct Series is 11793 & 11897 respectively.
  • The VWAP & POC of Sep Series is 11353 & 11560 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 13182-13190-13207

HVNs – 13020* / 13084 / 13190


BankNifty Dec F:  29542 [ 29890 / 29436 ]

BNF remained weaker of the 2 indicies as it opened lower and stayed in previous Value all day getting rejected at both ends with the first attempt being made in the C period on the upside where it got rejected after hitting new highs of 29890 leading to a probe lower till the ‘K ‘ period where it broke below previous Value but once again was swiftly sent back after making new lows of 29436 to leave an inside day both in terms of Value & Range to close just above the HVN of 29520. On the larger timeframe, BNF has been forming a 7-day composite with Value at 29465-29648-29835 (Click here to view the composite) and would need initiative volumes to move away from this balance in the coming session(s) for a new leg of imbalance.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auction In Range (OAIR)
  • The Day type was a Neutral Day (NeuD)
  • Largest volume was traded at 29644 F
  • Vwap of the session was at 29650 with volumes of 53 L and range of 453 points as it made a High-Low of 29890-29436
  • BNF confirmed a FA at 29000 on 26/11 and tagged the 1 ATR objective of 29677 on the same day. The 2 ATR target comes to 30355.
  • The settlement day Roll Over point (Dec) is 29629
  • The VWAP & POC of Nov Series is 28104 & 29565 respectively.
  • The VWAP & POC of Oct Series is 23740 & 24468 respectively.
  • The VWAP & POC of Sep Series is 22320 & 22320 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 29556-29644-29767

HVNs – 29650* / 30100

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