Market Profile Analysis dated 07th July 2020

Nifty Jul F:  10766 [ 10785 / 10657 ]
HVNs – 10190 / 10293 / 10475 / 10570 / 10730

NF made a similar high & low as previous day with small rejections at both ends to give a nice 2-day composite with Value at 10694-10729-10760 (check the MP Lite chart here

  • The NF Open was a Open Auction In Range (OAIR)
  • The Day type was a Neutral Day(NeuD)
  • Largest volume was traded at 10730 F
  • Vwap of the session was at 10724 with volumes of 144 L and range of 127 points as it made a High-Low of 10785-10657
  • NF confirmed a multi-day FA at 10533 on 06/07 and tagged the 1 ATR objective of 10742 on 06/07. The 2 ATR target is at 10950
  • NF confirmed a FA at 10440 on 02/07 and tagged the 1 ATR objective of 10654 on 06/07. The 2 ATR objective comes to 10868
  • NF confirmed a FA at 10172 on 29/06 and and the tagged the 2 ATR target of 10619 on 06/07. This FA is currently on ‘T+6’ Days.
  • The 18th June & 01st July Trend Day VWAPs of of 9957 & 10350  would be important support levels.
  • The settlement day Roll Over point (Jul) is 10240
  • The VWAP & POC of Jun Series is 10110 & 10110 respectively.
  • The VWAP & POC of May Series is 9183 & 9109 respectively.
  • The VWAP & POC of Apr Series is 8999 & 9010 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 10701-10730-10750

Main Hypos for 08.07.2020:

a) NF needs to get above 10787 for a rise to 10814 / 10847-868 / 10909-914 & 10940*-965
b) The auction accepting below 10758 can test lower levels of 10729-695 / 10660-637 & 10596-570*

Extended Hypos:
c) Above 10965, NF can probe higher to 10998 / 10033-055 / 11097-114 & 11133-165
d) If 10570 is taken out, NF could fall to 10536-512 / 10480*-440 / 10400* & 10367-350


BankNifty Jul F: 22603 [ 22656 / 22001 ]
HVNs – 21000 / 21294 / 21430 / 21840 / 21990 / 22240

BNF opened with a rejection from the previous day’s POC but volumes stayed on the lower side suggesting lack of supply or initiative sellers and this led to a huge short covering move in the afternoon as the auction confirmed a FA at 22001 and went on to make a 655 point move higher almost tagging the 1 ATR target of 22708 leaving an outside bar on the daily in terms of both range & Value as it left an irregular profile.

  • The BNF Open was a Open Rejection Reverse – Down (ORR)  on low volumes
  • The Day type was a Neutral Extreme Day – Up (NeuX)
  • Largest volume was traded at 22080 F
  • Vwap of the session was at 22311 with volumes of 84.2 L and range of 655 points as it made a High-Low of 22656-22001
  • BNF confirmed a FA at 22001 on 07/07 and the 1 ATR objective comes to 22708
  • BNF confirmed a FA at 20901 on 29/06 and the tagged the1 ATR target of 21763 on 01/07. The 2 ATR objective comes to 22625
  • The 18th June & 01st July Trend Day VWAPs of 20494 & 21650 would be important support levels.
  • The settlement day Roll Over point (Jul) is 21430
  • The VWAP & POC of Jun Series is 20918 & 21000 respectively.
  • The VWAP & POC of May Series is 18767 & 19633 respectively.
  • The VWAP & POC of Apr Series is 19605 & 19710 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 22020-22080-22480

Main Hypos for 08.07.2020:

a) BNF needs to sustain above 22626 for a rise to 22708-818 / 22880-920 / 23010 / 23100-160* & 23235-290
b) The auction accepting below 22548 could test 22468-423 / 22351 / 22290-240 / 22141-080 & 22000-21939

Extended Hypos:
c) If 23290 is taken out, BNF could start a fresh probe to 23370-440 / 23510-580 / 23630-700* / 23820-856 & 23991
d) Breaking below 21939, there could be a fall to 21840* / 21750-649 / 21545-468 / 21420-319 & 21223

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