Market Profile Analysis dated 05th November 2020

Nifty Nov F:  12143 [ 12156 / 12031 ]

NF gave a pretty big gap up of 167 points right at the 2 ATR objective of 12089 from the FA of 11744 and the OH (Open=High) start led to some profit booking as it gave a dip to 12031 in the ‘A’ period but left a buying tail in the IB indicating that the upside imbalance is still on. The auction then made a slow probe higher staying above VWAP all day making multiple REs (Range Extension) as it completed the 2 IB target of 12148 in the ‘L’ period and hit new highs of 12156 into the close which means the imbalance could still continue in the next session. However, the dPOC for the day shifted higher to 12140 and would be the immediate reference for the next open.

Click here to view the latest profile of NF on MPLite

  • The NF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Normal Variation Day – Up (NV)
  • Largest volume was traded at 12140 F
  • Vwap of the session was at 12095 with volumes of 123.6 L and range of 125 points as it made a High-Low of 12156-12031
  • NF confirmed a FA at 11744 on 04/11 and tagged the 2 ATR objective of 12089 on 05/11.
  • The settlement day Roll Over point (Nov) is 11665
  • The VWAP & POC of Oct Series is 11793 & 11897 respectively.
  • The VWAP & POC of Sep Series is 11353 & 11560 respectively.
  • The VWAP & POC of Aug Series is 11311 & 11311 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 12075-12140-12149

HVNs – 11740 / 11819

Hypos for 06.11.2020:

a) NF needs to sustain above 12153 for a rise to 12192 / 12250 & 12325
b) The auction staying below 12140 could test 12102 / 12042 & 11968


BankNifty Nov F:  26297 [ 26363 / 26001 ]

BNF gave a big gap up open of 382 points as it moved away from the 2-day balance but the OAOR (Open Auction Out Of Range) start confined the day’s range to be a narrow one of just 362 points as it stayed above PDH (Previous Day High) and formed a balanced profile leaving a second successive Neutral Day. Value was once again completely higher with the dPOC shifting near the highs and would be the reference for the next open for this weekly imbalance to continue.

Click here to view BNF move away from the 2-day balance on MPLite

  • The BNF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Neutral Day (NeuD)
  • Largest volume was traded at 26307 F
  • Vwap of the session was at 26199 with volumes of 68.9 L and range of 362 points as it made a High-Low of 26363-26001
  • BNF confirmed a FA at 24277 on 30/10 and tagged the 1 ATR objective of 23619 on the same day. This FA not only was negated on 02/11 but the auction went on to tag 2 ATR target on upside which was at 25593 on 03/11.
  • The settlement day Roll Over point (Nov) is 24110
  • The VWAP & POC of Oct Series is 23740 & 24468 respectively.
  • The VWAP & POC of Sep Series is 22320 & 22320 respectively.
  • The VWAP & POC of Aug Series is 22444 & 21595 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 26152-26307-26330

HVNs – 24110 / 25455

Hypos for 06.11.2020:

a) BNF needs to sustain above 26350 for a rise to 26490-600 / 26750-820 / 26950 & 27100-240
b) The auction staying below 26268 could test 26161-085 / 25986-810 / 25660-480 & 25395-320

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