Market Profile Analysis dated 04th August 2020

Nifty Aug F:  11102 [ 11114 / 10912 ]

HVNs – 10918 / 10970 / 11095 / 11169 / 11263

NF made an OAIR start but left a buying tail in the IB from 10912 to 10948 as it left an extension handle at 10961 as early as the ‘B’ period which was a bullish sign as it formed an Initial Balance between the 2 HVNs of previous day at 10918 & 10972 and went on to make a rare successful C side RE (Range Extension) higher leaving the second extension handle for the day at 10982 and made highs of 11024 stalling right below PDH (Previous Day High) of 11029. The auction made an inside bar in the ‘D’ period after which it resumed the OTF (One Time Frame) probe higher making multiple REs over the next 3 periods as it completed the 2 IB objective of 11051 while making a high of 11069 in the ‘G’ period. Having completed the 2 IB so early in the day, NF then made a retracement to 11026 in the ‘I’ period and formed similar lows near PDH indicating that demand coming in and this led to a fresh probe higher into the close as it left the third extension handle for the day at 11077 and spiked higher to 11114 before closing the day at 11102. Spike Rules will be in play for the next session.

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

  • The NF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Variation Day – Up (NV)
  • Largest volume was traded at 11032 F
  • Vwap of the session was at 11027 with volumes of 143.7 L and range of 202 points as it made a High-Low of 11114-10912
  • 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 11008-11032-11114

Main Hypos for 05.08.2020:

a) NF needs to sustain above 11109 for a rise to 11133-140 / 11171-195 / 11215 & 11245-265
b) The auction staying below 11087 could fall to 11060 / 11040-004 / 10972 & 10945

Extended Hypos:
c) Above 11265, NF can probe higher to 11280-306 / 11334-350 & 11374-400
d) If 10945 is taken out, NF could fall to 10921 / 10883-850 & 10806-800


BankNifty Aug F:  21552 [ 21633 / 21106 ]

HVNs – 21545 / 21615 / 22151

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

BNF opened higher but made the first probe to the downside as it tested previous day’s small buying tail of 21120 to 21085 where it was swiftly rejected as it went on to tag the HVN of 21350 in the IB and left a buying tail from 21200 to 21106. Similar to NF, the auction made a C side RE and stayed above the IBH as it made new highs of 21495 in the ‘E’ period where it formed similar highs in yesterday’s selling tail. BNF then probed lower to test VWAP as it left a PBL at 21361 and formed a prominent POC at 21455 before starting a new leg on the upside as it scaled above PDH to tag new highs for the week at 21633 but closed lower at 21552.

  • The BNF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Variation Day – Up (NV)
  • Largest volume was traded at 21455 F
  • Vwap of the session was at 21415 with volumes of 72.5 L and range of 527 points as it made a High-Low of 21633-21106
  • 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 21221-21455-21534

Main Hypos for 05.08.2020:

a) BNF needs to sustain above 21550 for a rise to 21620 / 21670-717 / 21775-853 / 21955-979 & 22020-151
b) The auction accepting below 21545 could test 21495-445 / 21361-309 / 21245-190 / 21085-039 & 20970

Extended Hypos:

c) Above 22151, BNF can probe higher to 22200-290 / 22336-393 / 22458-550 & 22600-710
d) Breaking below 20970, it could fall to 20904-850 / 20750-690 / 20589-480 & 20391

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