Market Profile Analysis dated 07th April 2021

Nifty Apr F:  14888 [ 14950 / 14701 ]

NF opened around the yPOC and made the first probe lower as it tagged yesterday’s VAL (Value Area Low) while hitting 14701 from where it not only was swiftly rejected but swiped through previous day’s Value and confirmed a buying tail in it from 14807 to 14701 as the IB (Initial Balance) got completed indicating that the PLR (Path Of Least Resistance) for the day was to the upside.The auction then had a silent ‘C’ period where it made a narrow range inside bar and followed it up with a big RE (Range Extension) in the ‘D’ period as it made new highs of 14935 inspite of the big IB range of 163 points. However, the upside then got capped as NF did make 2 more RE’s to the upside in the ‘E’ & ‘H’ period but could only make marginal new highs of 14943 & 14950 stalling just below the VPOC from 01st Apr of 14953 which led to a big pull back in the ‘I’ period as the auction broke below VWAP for the first time in the day and left a PBL (Pull Back Low) at 14839 before settling down to form a ‘p’ shape profile for the dday with a close right at the dPOC of 14890.

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 Normal Variation Day – Up (‘p’ profile)
  • Largest volume was traded at 14890 F
  • Vwap of the session was at 14870 with volumes of 105.3 L and range of 249 points as it made a High-Low of 14950-14701
  • The settlement day Roll Over point (Apr) is 14425
  • The VWAP & POC of Mar Series is 14816 & 14737 respectively.
  • The VWAP & POC of Feb Series is 14893 & 15115 respectively.
  • The VWAP & POC of Jan Series is 14288 & 14569 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 14842-14890-14945

HVNs – 14420 / 14621 / 14790 / 14975


BankNifty Apr F:  33151 [ 33370 / 32298 ]

BNF made an OAIR start and remained in previous day’s range to form an inside bar staying below the extension handle of 33226 as it build upon the ‘b’ shape long liquidation profile of Monday to give a nice 2-day composite ‘b’ with Value at 32548-32688-32982 and has closed right at thr composite POC so can expect a move away from this balance with the PLR (Path of Least Resistance) being to the downside provided the opening hour bring in fresh selling volumes below 32688.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Rejection Reverse – Up (ORR on lower than average volumes)
  • The Day type was a Normal Variation Day – Up (‘p’ profile)
  • Largest volume was traded at 33145 F
  • Vwap of the session was at 33010 with volumes of 47.4 L and range of 1072 points as it made a High-Low of 33370-32298
  • The settlement day Roll Over point (Apr) is 33250
  • The VWAP & POC of Mar Series is 34618 & 33870 respectively.
  • The VWAP & POC of Feb Series is 35530 & 35820 respectively.
  • The VWAP & POC of Jan Series is 31597 & 32062 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 32841-33142-33289

HVNs – 33250 / 33432 / 34050

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