Market Profile Analysis dated 04th September 2020

Nifty Sep F:  11352 [ 11473 / 11310 ]

NF opened with a big gap down of 159 points on Friday but took support just above the recent lows of 11350 in the IB after which it made a OTF probe higher for most part of the day almost closing the daily gap as it hit 11473 but saw some big liquidation happening into the close resulting in new lows of 11310 for the week as the auction tested the Aug series POC & VWAP combo before closing the week at 11352. .

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

  • The NF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Neutral Day (NeuD)
  • Largest volume was traded at 11370 F
  • Vwap of the session was at 11398 with volumes of 145.1 L and range of 164 points as it made a High-Low of 11473-11310
  • NF confirmed a FA at 11445 on 02/09 and tagged the 1 ATR objective of 11587 on 03/09. This FA got revisted in ‘T+2’ Days and is no longer a valid reference
  • 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 11349-11370-11426

HVNs – 11485 / 11555 / 11664

Main Hypos for 07.09.2020:

a) NF needs to sustain above 11355 for a rise to 11379-403 / 11420-440 & 11465-485
b) The auction staying below 11350 could test 11320-305* / 11280-250* & 11211

Extended Hypos:
c) Above 11485, NF can probe higher to 11511-529 / 11565* & 11595-602
d) If 11211 is taken out, NF could fall to 11183-168 / 11130 & 11093

Additional Hypo:
e) Below 11093, lower levels of 11062-033 / 11004 & 10982-963 could come into play


BankNifty Sep F:  23027 [ 23440 / 22854 ]

BNF opened with a gap down of 447 points on Friday and continued to probe lower as it made lows of 22882 in the IB from where it gave a retracement to 23440 before hitting new lows for the week at 22854 into the close before closing at 23027 moving away from the 4-day composite forming lower Value on the daily with the PLR being to the downside for the coming session(s).

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

  • The BNF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Neutral Day (NeuD)
  • Largest volume was traded at 23150 F
  • Vwap of the session was at 23144 with volumes of 81.9 L and range of 586 points as it made a High-Low of 23440-22854
  • 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 22967-23150-23260

HVNs – 23700 / 23800 / 24250

Main Hypos for 07.09.2020:

a) BNF needs to sustain above 23068 for a rise to 23140-230 / 23300-385 / 23455-515 & 23586-630
b) The auction accepting below 23001 could test 22932-860 / 22800*-720 / 22621-560 & 22465-444

Extended Hypos:

c) Above 23630, BNF can probe higher to 23720-810 / 23865-936 / 24001-080 & 24180
d) Breaking below 22444, it could fall to 22378-280* / 22240-155 / 22090-033 & 21984*-860

Additional Hypo:
e) Below 21860, lower levels of 21780-744 / 21660-600* / 21540-499 & 21425-312 could come into play

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