Market Profile Analysis dated 03rd March 2021

Nifty Mar F:  15299 [ 15318 / 15034 ]

NF made it a hat-trick of gap ups opening at 15062 as it gave a rare follow up to a Neutral Extreme Day but settled into an OAOR (Open Auction Out of Range) staying in a very narrow IB range of just 55 points. The auction then changed gears from the C period where it left an extension handle at 15090 initiating a trending move higher all day as it left couple of more extension handles at 15142 & 15234 and went on to complete a 5 IB day as it made highs of 15318 into the close but saw some profit booking happening at 15300 where the day finally closed. The big imbalance of 360 points from yesterday’s close could bring in a balance in the next session(s) with 15266 to 15318 being the immediate zone to watch and on the downside, today’s VWAP of 15170 would be the important reference to hold apart from the extension handles.

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 Trend Day – Up
  • Largest volume was traded at 15070 F
  • Vwap of the session was at 15170 with volumes of 111.3 L and range of 284 points as it made a High-Low of 15318-15034
  • NF confirmed a FA at 14776 on 02/03 and completed the 2 ATR objective of 15203 on 03/03.
  • The settlement day Roll Over point (Mar) is 15174
  • The VWAP & POC of Feb Series is 14893 & 15115 respectively.
  • The VWAP & POC of Jan Series is 14288 & 14569 respectively.
  • The VWAP & POC of Dec Series is 13528 & 13528 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 15035-15078-15266

HVNs – 14810 / 14892 / 15230


BankNifty Mar F:  36492 [ 36581 / 35666 ]

The 2-day balance made way for an imbalance to set in as just like NF, BNF also opened higher but settled down into an OAOR leaving a narrow 303 point range in the IB after which it left an extension handle at 35970 in the C period and went on to form a slow Trend Day Up with the help of 2 more extension handles at 36165 & 36264 as it completed the 3 IB target of 36573 in the ‘L’ period stalling near the 24th Feb HVN of 36585 which in turn resulted in good amount of profit booking as the dPOC shifted higher to 36480 which is where the auction finally closed. BNF needs to get accepted above 36585 to continue this imbalance higher where as staying below 36480 could mean a return to balance with today’s VWAP of 36190 as the important reference.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Trend Day – Up
  • Largest volume was traded at 36480 F
  • Vwap of the session was at 36190 with volumes of 47.5 L and range of 914 points as it made a High-Low of 36581-35666
  • BNF confirmed a multi-day FA at 34983 on 02/03 and completed the 1 ATR objective of 35868 on 03/03. The 2 ATR target comes to 36754
  • The settlement day Roll Over point (Mar) is 36719
  • The VWAP & POC of Feb Series is 35530 & 35820 respectively.
  • The VWAP & POC of Jan Series is 31597 & 32062 respectively.
  • The VWAP & POC of Dec Series is 30270 & 30766 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 36040-36480-36580

HVNs – 35280 / 35640

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