Market Profile Analysis dated 08th December 2020

Nifty Dec F:  13428 [ 13469 / 13352 ]

NF opened higher but tested the yPOC of 13384 in the opening minutes as it made a low of 13381 and drove higher in the IB as it hit 13456 after which the auction made that dreaded C side extension forming new highs of 13464 which was mostly the laggard longs entering without much institutional support thus could not sustain above the IB and the break of VWAP of a Drive Open in the ‘D’ period triggered a big liquidation move as NF went on to make a RE (Range Extension) lower in the ‘E’ period as it broke below 13384 confirming a FA at highs but stopped just above yVWAP of 13348 while making a low of 13352. Yesterday’s VWAP being defended meant that the demand was back and this led to the auction making a slow probe higher from G period onwards till the K period where it even made marginal new highs at 13469 negating the FA but once again lack of fresh demand in this zone pulled it back to the dPOC of 13421 into the close leaving a Neutral Centre Day though Value was once again completely higher.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Test Drive – Up (OTD on low volumes)
  • The Day type was a Neutral Centre Day (NeuC)
  • Largest volume was traded at 13421 F
  • Vwap of the session was at 13419 with volumes of 92.8 L and range of 117 points as it made a High-Low of 13469-13352
  • The settlement day Roll Over point (Dec) is 12974
  • The VWAP & POC of Nov Series is 12554 & 12862 respectively.
  • The VWAP & POC of Oct Series is 11793 & 11897 respectively.
  • The VWAP & POC of Sep Series is 11353 & 11560 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 13398-13421-13455

HVNs – 13020* / 13084 / 13190


BankNifty Dec F:  30314 [ 30450 / 30104 ]

BNF made yet another OAIR start and remained in previous Value for most part of the day filling up yesterday’s profile and faced rejection at both ends of Value as it first made an attmept to get above yVAH in the ‘B’ period but was rejected from 30385 after which it made a low of 30104 in the ‘E’ period where once again it took support just above yVAL of 30083 leaving a small tail at lows. The auction then made multiple RE attempts from the ‘H’ to the ‘K’ periods and even made new highs for the week at 30450 but could not sustain above the IBH leading to a close around the dPOC of 30300 leaving the second consecutive Neutral Day of the week. BNF has formed a nice 2-day balance with Value at 30176-30309-30375 and will need initiative volumes to move away from here in the coming session(s).

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auction In Range (OAIR)
  • The Day type was a Neutral Day (NeuD)
  • Largest volume was traded at 30300 F
  • Vwap of the session was at 30285 with volumes of 51.7 L and range of 346 points as it made a High-Low of 30450-30104
  • BNF confirmed a FA at 30021 on 07/12 and tagged the 1 ATR objective comes to 30660.
  • BNF confirmed a FA at 29000 on 26/11 and tagged the 2 ATR objective of 30355 on 07/12. This FA has not been tagged and is now positional support.
  • The settlement day Roll Over point (Dec) is 29629
  • The VWAP & POC of Nov Series is 28104 & 29565 respectively.
  • The VWAP & POC of Oct Series is 23740 & 24468 respectively.
  • The VWAP & POC of Sep Series is 22320 & 22320 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 30223-30300-30377

HVNs – 29650* / 30100

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