Market Profile Analysis dated 07th August 2020

Nifty Aug F:  11226 [ 11250 / 11142 ]

HVNs – 10918 / 10970 / 11095 / 11160 / 11196

NF not only made an OAIR start but also remained inside previous day’s Value for most part of the day before making a small spike higher to 11250 in the ‘K’ period which got rejected as it closed around the DPOC of 11224 forming a nice Gaussian profile on the daily with the lowest range of the series so far of just 108 points. The auction has made overlapping Value for the last 3 days making a balanced composite profile with Value at 11143-11195-11234 looking good for a fresh probe in either direction in the coming session(s) but would need initiative volumes for the same.

Click here to view the MP Lite chart of the 3-day composite in NF

  • The NF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Variation Day – Up (NV)
  • Largest volume was traded at 11224 F
  • Vwap of the session was at 11199 with volumes of 102.7 L and range of 108 points as it made a High-Low of 11250-11142
  • The settlement day Roll Over point (Aug) is 11095
  • The VWAP & POC of Jul Series is 10897 & 10803 respectively.
  • The VWAP & POC of Jun Series is 10110 & 10110 respectively.
  • The VWAP & POC of May Series is 9183 & 9109 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 11185-11224-11234

Main Hypos for 10.08.2020:

a) NF needs to sustain above 11238 for a rise to 11268 / 11296-310 / 11334-350 & 11388
b) The auction staying below 11220 could fall to 11193 / 11164-130 / 11103-094 & 11075

Extended Hypos:
c) Above 11388, NF can probe higher to 11418-442 / 11465-484 & 11503-535
d) If 11075 is taken out, NF could fall to 11040-004 / 10972-945 & 10921


BankNifty Aug F:  21771 [ 21835 / 21435 ]

HVNs – 21545 / 21615 / 22151

Click here to view the MP Lite chart of the 3 day composite in BNF

BNF made yet another OAIR start indicating that the intent to remain in the range it was forming after confirming the FA at 22000 couple of days back and similar to NF remained in the lowest daily range of the series of just 400 points forming a nice 3-day balance with Value at 21520-21634-21785 and a close near the VAH of this composite and is looking good to give a move away from here in the coming session(s).

  • The BNF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Variation Day – Up (NV)
  • Largest volume was traded at 21620 F
  • Vwap of the session was at 21665 with volumes of 62.9 L and range of 400 points as it made a High-Low of 21835-21435
  • BNF confirmed a FA at 22000 on 05/08 and almost tagged the 1 ATR objective of 21440 on 06/08. The 2 ATR objective comes to 20880
  • The settlement day Roll Over point (Aug) is 21615
  • The VWAP & POC of Jul Series is 22163 & 22087 respectively.
  • The VWAP & POC of Jun Series is 20918 & 21000 respectively.
  • The VWAP & POC of May Series is 18767 & 19633 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 21610-21775-21794

Main Hypos for 10.08.2020:

a) BNF needs to sustain above 21799 for a rise to 21860 / 21939-960 / 22054-160 / 22230-290 & 22336-393
b) The auction accepting below 21770 could test 21697-650 / 21558-540 / 21480-400 / 21312-245 & 21183

Extended Hypos:

c) Above 22393, BNF can probe higher to 22458-550 / 22600-710 / 22829-865 / 22930 & 23000*
d) Breaking below 21183, it could fall to 21085-039 / 20970 / 20880 / 20750-690 & 20589-540

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