Market Profile Analysis dated 05th January 2021

Nifty Jan F:  14218 [ 14228 / 14077 ]

NF rejected previous day’s NeuX close as it opened lower and remained below the yPOC of 14133 while making a low of 14083 in the opening minutes and remained in this range for the IB. The auction then marginal new lows of 14077 in a C side extension which got swiftly rejected leading to a OTF (One Time Frame) probe on the upside till the ‘G’ period as NF hit new weekly highs of 14183 after it made multiple REs starting from the ‘D’ period confirming a FA at lows but the lack of fresh demand at new highs triggered a liquidation move to VWAP in the ‘I’ period as the auction made an equally quick fall to 14112 where it left a PBL which meant that the strong buyers were back in action. The ‘J’ period then made a fresh RE higher leading to the yet another Neutral Extreme Close as NF not only completed the 2 IB objective of 14187 but left an extension handle at 14196 and went on to make a high of 14228 into the close which would be the NeuX zone on watch for the next session. Value for the day was overlapping to higher with a HVN being formed at 14221 which would be the immediate reference along with the series HVN of 14120.

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 Neutral Extreme Day – Up (NeuX)
  • Largest volume was traded at 14221 F
  • Vwap of the session was at 14148 with volumes of 97.8 L and range of 151 points as it made a High-Low of 14228-14077
  • NF confirmed a FA at 14077 on 05/01 and the 1 ATR objective comes to 14245.
  • The settlement day Roll Over point (Jan) is 14007
  • The VWAP & POC of Dec Series is 13528 & 13528 respectively.
  • The VWAP & POC of Nov Series is 12554 & 12862 respectively.
  • The VWAP & POC of Oct Series is 11793 & 11897 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 14124-14221-14226

HVNs – 13970 / 14040 / 14120


BankNifty Jan F:  31799 [ 31844 / 31011 ]

BNF also opened lower as it got into previous day’s buying tail of 31103 to 30931 but took support at 31011 from where it made a probe higher for the rest of the ‘A’ period as it made a high of 31250 getting stalled around the VAL of the 5-day composite. The auction remained in a narrow range for the next 2 periods as the ‘C’ period made an attempt to break below VWAP but could only leave a PBL at 31124 which was a sign that the buyers had begun to emerge and this got more confirmation in the ‘D’ period as BNF made a big RE on the upside leaving the first extension handle of the day at 31250 and completed the 80% Rule in the 5-day Value in a flash and continued to probe higher till the ‘G’ period where it made a high of 31521 completing the 2 IB objective for the day. The auction then saw some profit booking as it gave a retracement to VWAP in the ‘I’ period where it left the second PBL for the day at 31345 adding to the strong structure it was forming which brought about a fresh implosion to the upside into the close as BNF left another extension handle at 31538 and rose by a further 300 points to give a Trend Day Up and seems to finally be moving away from the balance it has been forming since last week. The dPOC for the day shifted higher to 31800 which would be the immediate reference along with 31713 below which the composite high of 31600 & today’s VWAP of 31430 would be the important levels to be held for the PLR to remain on the upside.

Click here to view the Trend Day Profile in BNF on MPLite

  • The BNF Open was a Open Auction In Range (OAIR)
  • The Day type was a Trend Day – Up (TD)
  • Largest volume was traded at 31800 F
  • Vwap of the session was at 31430 with volumes of 53.8 L and range of 833 points as it made a High-Low of 31844-31011
  • The settlement day Roll Over point (Jan) is 31389
  • The VWAP & POC of Dec Series is 30270 & 30766 respectively.
  • The VWAP & POC of Nov Series is 28104 & 29565 respectively.
  • The VWAP & POC of Oct Series is 23740 & 24468 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 31284-31800-31839

HVNs – 31410

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