Market Profile Analysis dated 08th April 2021

Nifty Apr F:  14924 [ 15045 / 14873 ]

NF gave a move away from previous day’s Value in the A period as it left an initiative buying tail in the IB (Initial Balance) and made new highs for the series at 15020 after which it made the dreaded ‘C’ side extension which got rejected back into the IB leading to a break of the day’s VWAP as the auction tested the morning singles and left a PBL (Pull Back Low) around PDH (Previous Day High) indicating that the demand was coming back. The ‘I’ period then made a fresh RE (Range Extension) higher making new highs of 15045 but once again could not sustain above IBH and this lack of fresh demand at new highs led to a big liquidation move as NF not only broke the day’s VWAP for the second time but even went on to negate the PBL of 14949 and swiped through previous day’s Value as it made a low of 14873 getting swiftly rejection from yVWAP and climbed back to 14946 into the close leaving a Neutral Profile for the day. Today’s HVN of 14934 would be the immediate reference for the next open along with the VWAP of 14981 above it for the bulls to get back into the game as for now seems like sellers have taken control.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction (OA)
  • The Day type was a Neutral Day (NeuD)
  • Largest volume was traded at 14988 F
  • Vwap of the session was at 14981 with volumes of 97.5 L and range of 171 points as it made a High-Low of 15045-14873
  • The settlement day Roll Over point (Apr) is 14425
  • The VWAP & POC of Mar Series is 14816 & 14737 respectively.
  • The VWAP & POC of Feb Series is 14893 & 15115 respectively.
  • The VWAP & POC of Jan Series is 14288 & 14569 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 14956-14988-15034

HVNs – 14420 / 14621 / 14790 / 14975


BankNifty Apr F:  32946 [ 33490 / 32851 ]

BNF opened higher and probed above PDH as it made highs of 33490 in Monday’s selling singles stalling right below the weekly POC of 33495 and left a small selling tail at top in the IB as it made lower lows in the ‘B’ period indicating that the supply was taking over from the buyers from previous day’s open. The auction then consolidated in the IB till the ‘E’ period before it made a RE to the downside in the ‘F’ period and followed it up with a lower low of 33036 in the ‘G’ period taking support just above previous day’s PBL of 33025 which led to a probe back into the IB and above the day’s VWAP over the next 2 periods as the ‘I’ period made a high of 33406 but got rejected from the dPOC and morning supply zone of 33385 triggering a fresh probe to the downside resulting in new lows for the day as the ‘K’ & ‘L’ periods made new REs completing the 2 IB objective of 32907 while making a low of 32851 before closing the day near the HVN of 32952 leaving a Neutral Extreme Down profile for the day. Value for the day was mostly overlapping due to which we can take the 2-day composite Value of 32979-33138-33413 as the refrence for the coming session for the upside.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auction (OA)
  • The Day type was a Normal Variation Day – Down (NV – 2 IB)
  • Largest volume was traded at 33386 F
  • Vwap of the session was at 33214 with volumes of 46.1 L and range of 638 points as it made a High-Low of 33490-32851
  • The settlement day Roll Over point (Apr) is 33250
  • The VWAP & POC of Mar Series is 34618 & 33870 respectively.
  • The VWAP & POC of Feb Series is 35530 & 35820 respectively.
  • The VWAP & POC of Jan Series is 31597 & 32062 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 33115-33386-33451

HVNs – 33250 / 33432 / 34050

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