Market Profile Analysis dated 04th March 2021

Nifty Mar F:  15106 [ 15235 / 14992 ]

NF opened with a huge gap down of 251 points and saw some profit booking by the shorts as it held PDL of 15034 and gave a quick bounce to 15124 in the opening 15 minutes but continued to see the trapped longs exiting which led to a probe lower till the ‘B’ period began where it broke below PDL and made new lows of 14992 but got stopped right above the HVN of 14986 of 2nd Mar after which it left a small yet important buying tail at lows which suggested that no new selling was coming in. The buyers then gained in confidence once the auction got above VWAP in the C period after which it made a OTF (One Time Frame) move to the upside starting from the D period where it left an extension handle at 15124 and went on to make a high of 15235 in the ‘H’ period. The ‘I’ period then stopped the OTF which triggered a quick move lower till the ‘J’ period as NF tested that extension handle of 15124 and got rejected indicating that the morning buyers were still present. The ‘K’ period then gave a rise to 15204 but could only leave a PBH (Pull Back High) and this led to a late long liquidation move into the close as the auction went on to break that extension handle of 15124 and made a low of 15081 in the ‘L’ period before closing the day at 15106. Both the range & value were overlapping along with the POC so we can take the 2-day composite reference of 15031-15095-15186 for the next session.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Variation Day – Up
  • Largest volume was traded at 15095 F
  • Vwap of the session was at 15117 with volumes of 154.7 L and range of 243 points as it made a High-Low of 15235-15034
  • NF confirmed a FA at 14776 on 02/03 and completed the 2 ATR objective of 15203 on 03/03. This FA is currently on ‘T+3’ Days.
  • 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 15023-15095-15165

HVNs – 14810 / 14894* / 15230


BankNifty Mar F:  35880 [ 36421 / 35530 ]

BNF also opened with a huge gap down of 766 points and probed below PDL in the IB as it made a low of 35530 stopping just above the VPOC of 35515 indicating that demand was coming back and this led to a good move on the upside as it made higher highs from the ‘D’ to the the ‘H’ period as it left an extension handle at 35916 in the ‘E’ period & completed the 2 IB target of 36304 while making a high of 36421 in the ‘H’ period stalling just below the yPOC of 36480 as it left a selling tail at top which marked the end of the upside probe. The auction then probed lower into the close breaking the extension handle of 35916 as it made a low of 35780 before closing the day at 35880. Value for the day was mostly lower so the PLR seems to be on the downside for a probe to the VPOCs of 35515 / 35223 & 34922 in the coming session(s) if BNF get accepted below today’s POC of 35730.

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 Normal Variation Day – Up
  • Largest volume was traded at 35730 F
  • Vwap of the session was at 35930 with volumes of 58.2 L and range of 891 points as it made a High-Low of 36421-35530
  • 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 35559-35730-36089

HVNs – 35290* / 35640

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