Market Profile Analysis dated 06th January 2021

Nifty Jan F:  14189 [ 14252 / 14078 ]

NF opened higher completing the 1 ATR objective of 14245 from previous day’s FA of 14077 but settled down into an OAOR as it took support right at the extension handle of 14196 leaving a narrow 57 point IB (Initial Balance) after which it continued to remain in this range for the first half of the day forming a balance till the ‘H’ period. OAOR most of the times give a big move away late in the afternoon & today was no exception as NF made a very late RE to the downside in the ‘I’ period triggering a big fall slicing through previous day’s Value as it went on to break below the HVN of 14120 and completed the 3 IB target for the day which was at 14082 as it made a low of 14078 stopping just above the FA of 14077 which meant that the buyers were back defending this level. This got more confrimation as the auction left a tail at lows in the ‘J’ period and played out the 45 degree Rule giving a sharp retracment towards the dPOC of 14225 into the close as it hit 14210 before closing the day at 14189. Range wise, NF was almost an outside bar with overlapping POC at 14220 which would be the reference for the next open and the ability to attract volumes above or below this level would a move away from this 3-day balance which has been forming this week.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Normal Variation Day – Down (NV)
  • Largest volume was traded at 14225 F
  • Vwap of the session was at 14195 with volumes of 117.9 L and range of 174 points as it made a High-Low of 14252-14078
  • NF confirmed a FA at 14077 on 05/01 and tagged the 1 ATR objective of 14245 on 06/01. The 2 ATR target comes to 14413
  • 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 14171-14225-14243

HVNs – 13970 / 14040 / 14120 / 14220


BankNifty Jan F:  31903 [ 32090 / 31662 ]

BNF took support at the yPOC of 31800 at open and probed higher hitting new highs for the series at 31972 in the IB after which it stayed above PDH (Previous Day High) forming a balance in a narrow range till the ‘F’ period which was followed by a RE on the upside in the ‘G’ period where it made new highs of 32080. The auction remained above the IBH in the ‘H’ period and made a fresh RE attempt in the ‘I’ period but could only form marginal new highs of 32090 which indicated that the upside was getting exhausted and once BNF got back into the IB & broke the day’s VWAP, a quick liquidation move happened in the ‘J’ period resulting in a RE to the downside as the extension handle of 31713 got tested and new lows for the day was hit at 31662. However, demand was seen coming back in this zone as a buying tail from 31662 to 31718 was confirmed at lows as the auction climbed back into the IB and made a trip to the IBH before closing the day around the combo of the DPOC / VWAP leaving a Neutral Centre profile for the day with higher Value.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Neutral Centre Day (NeuC)
  • Largest volume was traded at 31920 F
  • Vwap of the session was at 31905 with volumes of 50.2 L and range of 427 points as it made a High-Low of 32090-31662
  • 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 31815-31920-31976

HVNs – 31410 / 31900

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