Market Profile Analysis dated 07th October 2020

Nifty Oct F:  11751 [ 11779 / 11638 ]

NF opened in the spike zone and made a test below the spike low of 11659 as it hit 11638 but was swiftly rejected as it left a buying tail in the IB (Initial Balance) from 11686 to 11638 and continued the imbalance it has been in right from the start of this series making multiple REs (Range Extension) higher almost tagging the 31st Aug high of 11794 as it hit 11779 before closing the day just above the dPOC of 11740 leaving a ‘p’ shape profile for the day. The buyers have been in complete control in the last 4 sessions forming non-overlapping to higher Value forcing any shorts which are coming in to cover.

Click here to view NF continue the 4th day of imbalance on MPLite

  • The NF Open was a Open Auction In Range / Spike (OAIR)
  • The Day type was a Normal Variation Day – Up (‘p’ shape profile)
  • Largest volume was traded at 11740 F
  • Vwap of the session was at 11724 with volumes of 112.5 L and range of 141 points as it made a High-Low of 11779-11638
  • NF confirmed a FA at 10857 on 25/09 and tagged the 2 ATR objective of 11165 on 28/09. This FA has not been tagged and is now positional support.
  • The settlement day Roll Over point (Oct) is 10830
  • The VWAP & POC of Sep Series is 11353 & 11560 respectively.
  • The VWAP & POC of Aug Series is 11311 & 11311 respectively.
  • The VWAP & POC of Jul Series is 10897 & 10803 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 11710-11740-11759

HVNs – 10962 / 11220 / 11590

Main Hypos for 08.10.2020:

a) NF needs to sustain above 11755 for a rise to 11786-807 / 11820-843* & 11866-899
b) The auction staying below 11733 could test 11708-686 / 11656-627 & 11613-590*

Extended Hypos:
c) Above 11899, NF can probe higher to 11918-933* / 11961-970 & 12011-044
d) If 11590 is taken out, NF could fall to 11570-550 / 11520*-495 & 11476-455


BankNifty Oct F:  23019 [ 23109 / 229657 ]

BNF made a quick move lower at open negating the extension handle of 22838 and went on to hit 22657 in the opening minutes taking support just above the yPOC of 22650 which was a sign that buyers were defending this zone. The auction then reversed the probe higher as it not only made new highs for the day but went on to get above PDH tagging the first VPOC of 22992 while it made highs of 23065 in the IB. BNF then settled down to form a balance for the rest of the day building volumes at 23000 leaving a Normal Day and a ‘p’ shape profile as it made marginal new highs of 23109 in the ‘K’ period. Value for the day was once again higher indicating that the PLR is still to the upside.

Click here to view BNF continue the current imbalance on MPLite

  • The BNF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Day (‘p’ shape profile)
  • Largest volume was traded at 23000 F
  • Vwap of the session was at 22942 with volumes of 72.6 L and range of 452 points as it made a High-Low of 23109-22657
  • BNF had confirmed a FA at 20431 on 25/09 and tagged the 2 ATR objective of 21490 on 28/09. This FA has not been tagged and is now positional support.
  • The settlement day Roll Over point (Oct) is 20490
  • The VWAP & POC of Sep Series is 22320 & 22320 respectively.
  • The VWAP & POC of Aug Series is 22444 & 21595 respectively.
  • The VWAP & POC of Jul Series is 22163 & 22087 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 22888-23000-23037

HVNs – 20538 / 20822 / 21400 / 21630 / 22640

Main Hypos for 08.10.2020:

a) BNF needs to sustain above 23037 for a rise to 23091-150* / 23230-315 / 23371-415 & 23494-580
b) The auction staying below 23000 could test 22942-900 / 22815-750 / 22685-650* / 22575-500 & 22440*

Extended Hypos:

c) Above 23580, BNF can probe higher to 23630-724* / 23806-880* / 23913 / 24000-080 & 24180
d) Breaking below 22440, it could fall to 22380-319 / 22264-155 / 22101*-020 / 21965 & 21896-835

For more tradeable ideas and intraday trading strategies based on MarketProfile and the OrderFlow live charts with OrderFlow analysis Live, subscribe to the trading room. The Vtrender Trading Room hosts India’s largest MarketProfile community live every trading session from 9.15 am to 3.30 pm.

If not a Trading Room member you can get immediate access at – https://www.explara.com/e/vtrendertradingroomlive