Market Profile Analysis dated 07th September 2020

Nifty Sep F:  11366 [ 11393 / 11266 ]

NF opened right at Friday’s close and made a quick probe higher as it tested the yPOC of 11370 in the opening minutes but was swiftly rejected as it drove down breaking below previous week’s low of 11310 and went on to tag 11266 right at the start of the ‘B’ period and made a retracement to VWAP where it got accepted negating the OTD (Open Test Drive) after which the auction remained in the large IB range of 107 points for most part of the day forming a balance before it made a RE (Range Extension) on the upside in the ‘J’ period as it made new highs of 11388 but got swiftly rejected as it got back into the IB & went on to break below VWAP while leaving a PBL (Pull Back Low) of 11290 in the ‘K’ period. NF then made another rotation to the upside into the close completing a nice Gaussian profile for the day with a prominent POC at 11334 before making a marginal high of 11393 in the closing minutes. Value for the day was mostly lower but the close has been above VAH and therefore has a good chance of getting back into previous week’s Value in the next session.

Click here to view the latest profile chart of NF on MPLite

  • The NF Open was a Open Test Drive – Down (which failed) (OTD)
  • The Day type was a Normal Variation Day – Up (NV)
  • Largest volume was traded at 11334 F
  • Vwap of the session was at 11328 with volumes of 110 L and range of 127 points as it made a High-Low of 11393-11266
  • The settlement day Roll Over point (Sep) is 11607
  • The VWAP & POC of Aug Series is 11311 & 11311 respectively.
  • The VWAP & POC of Jul Series is 10897 & 10803 respectively.
  • The VWAP & POC of Jun Series is 10110 & 10110 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 11301-11334-11354

HVNs – 11485 / 11555 / 11664

Main Hypos for 08.09.2020:

a) NF needs to sustain above 11388 for a rise to 11403-420 / 11449-485 & 11510-529
b) The auction staying below 11355 could test 11335-310 / 11290-250* & 11211

Extended Hypos:
c) Above 11529, NF can probe higher to 11554-565* / 11595-602 & 11632-673
d) If 11211 is taken out, NF could fall to 11183-168 / 11144-130 & 11093-062


BankNifty Sep F:  22963 [ 23126 / 22721 ]

BNF also opened around the previous close and made a freak low of 22758 in the opening minutes from where it quickly bounced back and went on to probe higher in the IB as it tagged 23126 in the ‘B’ period stalling just below the yPOC of 23150. The auction then remained in this IB range forming a nice balance for most of the day but a failed attempt to test day’s high in the ‘J’ period where it left a PBH of 23110 triggered a long liquidation move in the ‘K’ period as BNF made new lows for the day at 22721 but took support at the Trend Day VWAP of 24th Aug and was swiftly rejected back in to the IB giving a close near the day’s prominent POC of 23000. Value for the day was mostly lower but the rejection at lows means there is good chance of this balance moving into an imbalance in the coming session(s) provided we get some initiative volumes at 23000.

Click here to view the latest profile in BNF on MP Lite

  • The BNF Open was a Open Auction (OA)
  • The Day type was a Normal Day (Gaussian Profile)
  • Largest volume was traded at 23000 F
  • Vwap of the session was at 22976 with volumes of 64.4 L and range of 405 points as it made a High-Low of 23126-22721
  • The settlement day Roll Over point (Sep) is 23576
  • The VWAP & POC of Aug Series is 22444 & 21595 respectively.
  • The VWAP & POC of Jul Series is 22163 & 22087 respectively.
  • The VWAP & POC of Jun Series is 20918 & 21000 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 22940-23000-23074

HVNs – 23700 / 23800 / 24250

Main Hypos for 08.09.2020:

a) BNF needs to sustain above 23001 for a rise to 23075-169 / 23230-316 / 23371-440 / 23494-514 & 23586
b) The auction staying below 22975 could test 22902-876 / 22809-725 / 22680-621 / 22573-444 & 22390-350

Extended Hypos:

c) Above 23586, BNF can probe higher to 23630-720 / 23786-810 / 23865-936 / 24001-080 & 24180
d) Breaking below 22350, it could fall to 22280*-253** / 22194-125 / 22020 / 21984*-860 & 21780-744

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