Market Profile Analysis dated 03rd July 2020

Nifty Jul F:  10572 [ 10606 / 10533 ]
HVNs – 10190 / 10293 / 10475 / 10570

NF formed a rare Non-Trend Day with the lowest daily range of the year 2020 since 7th Feb of just 73 points as it formed a Guassian profile with a prominent POC at 10570. High made for the day was 10606 which was the 2 ATR objective from the FA of 10156 and on the downside, the auction took support at previous day’s HVN of 10536 as it made a low of 10533 which is also a probable multi-day FA. Initiative volumes would be needed in the next session for a move away from this balance to give a trending move.

  • The NF Open was a Open Auction  (OA)
  • The Day type was a Normal Day / Non-Trend Day (Gaussian Profile)
  • Largest volume was traded at 10570 F
  • Vwap of the session was at 10570 with volumes of 115.6 L and range of 73 points as it made a High-Low of 10606-10533
  • NF confirmed a FA at 10440 on 02/07 and the 1 ATR objective comes to 10654
  • NF confirmed a FA at 10156 on 25/06 and the tagged the2 ATR target of 10604 on 03/07. This FA is currently on ‘T+7’ Days.
  • NF confirmed a FA at 10172 on 29/06 and and the tagged the1 ATR target of 10395 on 01/07. The 2 ATR objective comes to 10619
  • The 18th June & 01st July Trend Day VWAPs of of 9957 & 10350  would be important support levels.
  • The settlement day Roll Over point (Jul) is 10240
  • The VWAP & POC of Jun Series is 10110 & 10110 respectively.
  • The VWAP & POC of May Series is 9183 & 9109 respectively.
  • The VWAP & POC of Apr Series is 8999 & 9010 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 10555-10570-10582

Main Hypos for 06.07.2020:

a) NF needs to get above 10599 for a rise to 10619-654 / 10690 & 10733-750
b) The auction staying below 10570 can test lower levels of 10542-512 / 10480*-440 & 10400*

Extended Hypos:
c) Above 10750, NF can probe higher to 10787-815 / 10830-880 / 10914 & 10940*
d) If 10400 is taken out, NF could fall to 10367-350 / 10321-290 / 10266 & 10237-213


BankNifty Jul F:  21844 [ 22162 / 21750 ]
HVNs – 21000 / 21294 / 21430 / 21840 / 22250

BNF opened higher but turned weak as it probed lower leaving a selling tail in the IB as it made lows of 21772 and remained in this narrow range for most part of the day forming a ‘b’ shape profile with a prominent POC at 21840. The auction did make an attempt to get into the morning tail but was rejected leaving a PBH at 22064 in the ‘G’ period which was followed by a failed RE on the downside in the ‘I’ period as it made marignal new lows of 21750 before closing the day right at the POC not just for the day but also for the week. There is a good chance of BNF giving a move away from here in the coming session(s).

  • The BNF Open was a Open Auction In Range (OAIR) 
  • The Day type was a Normal Day
  • Largest volume was traded at 21840 F
  • Vwap of the session was at 21895 with volumes of 63.3 L and range of 412 points as it made a High-Low of 22162-21750
  • BNF confirmed a FA at 20901 on 29/06 and the tagged the1 ATR target of 21763 on 01/07. The 2 ATR objective comes to 22625
  • The 18th June & 01st July Trend Day VWAPs of 20494 & 21650 would be important support levels.
  • The settlement day Roll Over point (Jul) is 21430
  • The VWAP & POC of Jun Series is 20918 & 21000 respectively.
  • The VWAP & POC of May Series is 18767 & 19633 respectively.
  • The VWAP & POC of Apr Series is 19605 & 19710 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 21810-21840-21939

Main Hypos for 06.07.2020:

a) BNF needs to sustain above 21894 for a rise to 21939-987 / 22084-149 / 22202-264 / 22356-420 / 22490-560 & 22625-650
b) The auction accepting below 21829 could test 21750-720 / 21649-545 / 21468 / 21355-223 / 21120 & 21000*

Extended Hypos:
c) If 22650 is taken out, BNF could start a fresh probe to 22712-818 / 22880-920 / 23010-160* / 23235-290 & 23370
d) Breaking below 21000, there could be a fall to 20926-886 / 20784-704 / 20616-525 / 20484-396 & 20300*

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