Market Profile Analysis dated 05th October 2020

Nifty Oct F:  11517 [ 11588 / 11450 ]

NF continued the imbalance to the upside it had started in the previous session as it opened above PDH (Previous Day High) and drove higher as it first tagged the VPOC of 11508 from 21st Sep and then got into the weekly balance of 14th to 18th Sep and completed the 80% Rule to the dot as it made a high of 11588 in the ‘D’ period which marked the completion of the upmove as the auction was rejected swiftly from the weekly HVN of 11580 which led to a break of the day’s VWAP following which NF went on to almost test the day’s low of 11450 as it left a PBL (Pull Back Low) of 11455 in the ‘I’ period before settling down to close around the dPOC of 11520 leaving a nice 3-1-3 balanced profile between 11496 to 11550 on the first day of the week. Value was completely higher and the auction would need to get initiative volumes at either end of today’s Value for a move away from this balance.

Click here to view NF continue to move away from the 3-day composite on MPLite

  • The NF Open was a Open Auction Out of Range + Drive (OAOR + D)
  • The Day type was a Normal Day (3-1-3 profile)
  • Largest volume was traded at 11520 F
  • Vwap of the session was at 11523 with volumes of 103.9 L and range of 103 points as it made a High-Low of 11447-11344
  • NF confirmed a FA at 10857 on 25/09 and tagged the 2 ATR objective of 11165 on 28/09. This FA is currently on ‘T+6’ Days
  • The settlement day Roll Over point (Oct) is 10830
  • The VWAP & POC of Sep Series is 11353 & 11560 respectively.
  • The VWAP & POC of Aug Series is 11311 & 11311 respectively.
  • The VWAP & POC of Jul Series is 10897 & 10803 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 11504-11520-11550

HVNs – 10962 / 11220

Main Hypos for 06.10.2020:

a) NF needs to sustain above 11525 for a rise to 11550-564 / 11590-613 / 11637-657 & 11685-696
b) The auction staying below 11515 could test 11495-476 / 11455-425* / 11410-396 & 11366-344

Extended Hypos:
c) Above 11696, NF can probe higher to 11726-742 / 11769-794 & 11807
d) If 11344 is taken out, NF could fall to 11310-298 / 11266-242 & 11222*


BankNifty Oct F:  22425 [ 22840 / 22268 ]

BNF saw good initiative buying at open as it made an OL (Open=Low) start at 22319 and zoomed higher rising by 500 points from previous close in the IB itself. The auction went on to make a RE higher in the ‘D’ period but got stalled at the previous swing high of 22836 it had left on 14th Sep and this rejection not only led to a break of the day’s VWAP but as happens most of the times, failure of a drive up resulted in giving new lows for the day as BNF broke the OL of 22319 and went on to hit 22268 confiming a FA at top and almost tagging the 1 ATR target of 22264. However, there was rejection at these new lows too as the auction could not stay below the IBL and this gave a pull back to 22550 before the auction got the dPOC also lower to 22440 and closed around it giving a Neutral Centre Day with an FA at top and a small tail at the lows.

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

  • The BNF Open was a Open Drive – Up (OD)
  • The Day type was a Neutral Centre Day (NeuC)
  • Largest volume was traded at 22440 F
  • Vwap of the session was at 22566 with volumes of 83.2 L and range of 572 points as it made a High-Low of 22840-22268
  • BNF confirmed a FA at 22840 on 05/10 and almost tagged the 1 ATR objective of 22264 on the same day. The 2 ATR target comes to 21689.
  • BNF had confirmed a FA at 20431 on 25/09 and tagged the 2 ATR objective of 21490 on 28/09. This FA is currently on ‘T+6’ Days.
  • The settlement day Roll Over point (Oct) is 20490
  • The VWAP & POC of Sep Series is 22320 & 22320 respectively.
  • The VWAP & POC of Aug Series is 22444 & 21595 respectively.
  • The VWAP & POC of Jul Series is 22163 & 22087 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 22399-22440-22706

HVNs – 20538 / 20822 / 21400 / 21630

Main Hypos for 06.10.2020:

a) BNF needs to sustain above 22440 for a rise to 22505-550 / 22605-670 / 22725-770 / 22840-860 & 22945-992*
b) The auction staying below 22380 could test 22319 / 22264-155 / 22101*-020 / 21965 & 21896-835

Extended Hypos:

c) Above 22992, BNF can probe higher to 23078-150* / 23230-315 / 23371-440 / 23494-530 & 23580
d) Breaking below 21835, it could fall to 21775-710 / 21650 / 21568 / 21470-405* & 21321-272


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