Market Profile Analysis dated 03rd September 2020

Nifty Sep F:  11542 [ 11595 / 11511 ]

NF opened higher giving a rare follow up to a Neutral Extreme profile as it tagged the 1 ATR target of 11587 from previous day’s FA of 11445 but lack of fresh demand saw it getting rejected from 11595 as it got back into previous day’s range and took support just above the extension handle of 11533 as it made a low of 11537 in the IB (Initial Balance). The auction then began to coil for the next 2 periods inside a range of just 25 points after which it made a RE (Range Extension) lower in the ‘E’ period and followed it up with another lower low of 11511 in the ‘G’ period almost tagging the 1.5 IB objective but saw buyers defending previous day’s VWAP and this led to a probe higher to 11590 in the ‘H’ period. The volumes however remained on the lower side so NF settled down to form a Gaussian profile for the day with a close near the day’s prominent POC of 11555 and has a very good chance of moving away from this balance in the coming session.

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

  • The NF Open was a Open Rejection Reverse – Down (ORR) on lower volumes
  • The Day type was a Normal Variation Day – Down (Gaussian Profile)
  • Largest volume was traded at 11565 F
  • Vwap of the session was at 11556 with volumes of 92.9 L and range of 84 points as it made a High-Low of 11595-11511
  • NF confirmed a FA at 11445 on 02/09 and tagged the 1 ATR objective of 11587 on 03/09. 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 11535-11565-11570

HVNs – 11485 / 11555 / 11664

Main Hypos for 04.09.2020:

a) NF needs to sustain above 11560 for a rise to 11595-602 / 11645-665 & 11691
b) The auction staying below 11530 could test 11500-485* / 11445-428 & 11407-395

Extended Hypos:
c) Above 11691, NF can probe higher to 11706-730 / 11745-773* & 11795-829
d) If 11395 is taken out, NF could fall to 11360-345* / 11305* & 11280-250*

Additional Hypo:
e) Below 11250, lower levels of 11211 / 11183-160 / 11130 & 11093-062 could come into play


BankNifty Sep F:  23547 [ 24080 / 23453 ]

BNF made a quick dash on the upside at the open as it made a high of 24080 in the opening minutes but was swiftly rejected back into the 3-day composite Value as it went on to complete the 80% Rule forming a ‘b’ shape long liquidation profile for most part of the day before spiking lower in the last 45 minutes as it broke below the similar lows it left on last 2 days of 23500 to tag 23453 before closing the day at 23547. The auction continued to remain in the 3-day balance forming a smoother composite now with Value at 23514-23713-24001 and has given a signal that it is ready to move away from this balance at close today. Spike Rules would be in play at open for the next session and the reference would be from 23453 to 23607.

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

  • The BNF Open was a Open Rejection Reverse – Down (ORR) on lower volumes
  • The Day type was a Normal Variation Day – Down (NV)
  • Largest volume was traded at 23800 F
  • Vwap of the session was at 23742 with volumes of 55.4 L and range of 627 points as it made a High-Low of 24080-23453
  • 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 23630-23800-23860

HVNs – 23700 / 23800 / 24250

Main Hypos for 04.09.2020:

a) BNF needs to sustain above 23586 for a rise to 23630-720 / 23786-810 / 23865-936 & 24001-080
b) The auction accepting below 23514 could test 23450-392 / 23329-219* / 23184-066* & 22956

Extended Hypos:

c) Above 24080, BNF can probe higher to 24180 / 24258-285 / 24380-466 & 24585-658
d) Breaking below 22956, it could fall to 22850-800* / 22720-621 / 22560 & 22465-444

Additional Hypo:
e) Below 22444, lower levels of 22378-280* / 22240-155 / 22090-033 & 21984*-923 could come into play

For more tradeable ideas and intraday trading strategies based on MarketProfile and the OrderFlow live charts with OrderFlow analysis Live, subscribe to the trading room. The Vtrender Trading Room hosts India’s largest MarketProfile community live every trading session from 9.15 am to 3.30 pm.

If not a Trading Room member you can get immediate access at – https://www.explara.com/e/vtrendertradingroomlive