Market Profile Analysis dated 07th January 2021

Nifty Jan F:  14191 [ 14283 / 14175 ]

NF followed the previous day’s template of starting with an OAOR as it made new highs at 14283 at open and then left a small tail at the top in the IB after which it formed a balance for most part of the day building volumes at 14250 before making a late RE to the downside in the ‘I’ period before spiking lower into the close as it hit 14175 leaving yet another Normal Variation Day with a RE down with almost similar Value giving a nice 2-day Gaussian profile at 14179-14225-14251. The auction could continue to build on this balance unless initiative volumes enter to give a move away in the coming session(s).

Click here to view the 2-day Gaussian 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 14250 F
  • Vwap of the session was at 14229 with volumes of 75.3 L and range of 108 points as it made a High-Low of 14283-14175
  • 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 14218-14250-14255

HVNs – 13970 / 14040 / 14120 / 14220*


BankNifty Jan F:  32079 [ 32295 / 32034 ]

BNF opened with a gap up of 200 points continuing the imbalance it started with the Trend Day on 5th Jan as it made new highs of 32230 in the A period and formed a narrow 180 point IB range. The auction then made a C side extension lower which got rejected suggesting lack of aggressive supply and this led to a fresh OTF probe higher for the next 5 periods as BNF went on to make multiple REs on the upside to hit 32295 in the ‘H’ period. However, the inability to even complete the 1.5 IB objective of 32320 meant that even the buyers were not doing a good job and once the auction got back into the IB in the ‘I’ period, it triggered a liquidation move into the close as BNF went on to make new lows of 32034 leaving yet another Neutral Day. Value was completely higher in the form of a Gaussian Profile and has a prominent POC at 32170 above which it needs to get fresh buying in the coming session to continue trending higher this week.

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 Day (NeuD)
  • Largest volume was traded at 32170 F
  • Vwap of the session was at 32154 with volumes of 40.5 L and range of 261 points as it made a High-Low of 32295-32034
  • 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 32090-32170-32198

HVNs – 31410 / 31900

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