Market Profile Analysis dated 06th November 2020

Nifty Nov F:  12261 [ 12279 / 12136 ]

NF took support at the yPOC of 12140 at open and formed another low IB (Initial Balance) range of just 64 points while forming new highs for the week at 12200. The auction then continued to do what it did all week by making multiple REs (Range Extension) higher as it completed the 2 IB objective of 12264 in the ‘J’ period and some profit booking at these new highs saw a quick retracement to VWAP in the ‘K’ period where NF left a PBL (Pull Back Low) at 12202. This shielding of VWAP by the buyers then led to new highs of 12279 being recorded into the close as the dPOC once again shifted higher to 12260 which would be the reference at open for the next session.

Click here to view the latest profile of NF on MPLite

  • The NF Open was a Open Auction (OA)
  • The Day type was a Normal Variation Day – Up (NV)
  • Largest volume was traded at 12260 F
  • Vwap of the session was at 12210 with volumes of 117 L and range of 143 points as it made a High-Low of 12279-12136
  • 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 12182-12260-12269

HVNs – 11740 / 11819

Hypos for 09.11.2020:

a) NF needs to sustain above 12282 for a rise to 12325 / 12369 / 12396 & 12442
b) The auction staying below 12260 could test 12215 / 12183 / 12140 & 12095


BankNifty Nov F:  26749 [ 26845 / 26115 ]

BNF made an attempt to move away from the HVN of 26300 after leaving a buying tail in the IB from 26274 to 26115 as it made highs of 26460 but formed a very narrow range inside bar in the C period indicating poor trade facilitation at these new highs and this led to a test of the morning singles in the ‘D’ period which was defended resulting in a PBL of 26263. The auction then made an OTF (One Time Frame) probe higher till the ‘J’ period making new highs for the week at 26845 but saw some big profit booking which in turn led to some of the late longs getting liquidated as BNF made a break below VWAP in the ‘K’ period where it left another PBL of 26478 before closing the Trend Up week at 26749 where the dPOC also had shifted and similar to NF, would be the reference for the next open.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auctionv In Range (OAIR)
  • The Day type was a Normal Variation Day – Up (NV)
  • Largest volume was traded at 26750 F
  • Vwap of the session was at 26525 with volumes of 79.2 L and range of 730 points as it made a High-Low of 26845-26115
  • 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 26395-26750-26794

HVNs – 24110 / 25455 / 26300

Hypos for 09.11.2020:

a) BNF needs to sustain above 26808 for a rise to 26900 / 27050 / 27150 / 27280 & 27400
b) The auction staying below 26700 could test 26480 / 26395 / 26285 / 26200 & 26070

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