Market Profile Analysis dated 08th January 2021

Nifty Jan F:  14371 [ 14379 / 14249 ]

NF rejected the spike close of previous day as it opened with a big gap up of 90 points after which it took support right at the VAH of the 2-day Gaussian profile forming a narrow range IB of just 42 points. The auction then gave a rare C side extension handle at 14291 as it signalled a fresh imbalance to the upside and followed it up with another one late in the day at 14338 spiking higher into the close as it tagged 14379 completing the 3 IB objective for the day. Spike Rules will be in play for the next open and the zone to watch would be 14338 to 14379.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction (OA)
  • The Day type was a Normal Variation Day – Up (‘p’ shape profile with a spike)
  • Largest volume was traded at 14320 F
  • Vwap of the session was at 14318 with volumes of 105.5 L and range of 130 points as it made a High-Low of 14379-14249
  • NF confirmed a FA at 14077 on 05/01 and tagged the 1 ATR objective of 14245 on 06/01. The 2 ATR target comes to 14413
  • The settlement day Roll Over point (Jan) is 14007
  • The VWAP & POC of Dec Series is 13528 & 13528 respectively.
  • The VWAP & POC of Nov Series is 12554 & 12862 respectively.
  • The VWAP & POC of Oct Series is 11793 & 11897 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 14309-14320-14349

HVNs – 13970 / 14040 / 14120 / 14220*


BankNifty Jan F:  32173 [ 32338 / 32080 ]

BNF made a hat-trick of gap ups as it tagged 32338 at open but saw profit booking coming in as it got back into previous day’s range & value completing the 80% Rule while making a low of 32080 in the ‘I’ period before closing the day at 32170. Value for the day was mostly overlapping which means that the auction is now forming a nice 2-day balance with Value at 32121-32169-32252 and has a good chance of moving away from the POC of this profile in the coming session(s).

Click here to view the 2-day Gaussian profile in BNF on MPLite

  • The BNF Open was a Open Auction (OA)
  • The Day type was a Normal Day (Gaussian profile)
  • Largest volume was traded at 32220 F
  • Vwap of the session was at 32212 with volumes of 34.2 L and range of 258 points as it made a High-Low of 32338-32080
  • The settlement day Roll Over point (Jan) is 31389
  • The VWAP & POC of Dec Series is 30270 & 30766 respectively.
  • The VWAP & POC of Nov Series is 28104 & 29565 respectively.
  • The VWAP & POC of Oct Series is 23740 & 24468 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 32153-32220-32266

HVNs – 31410 / 31900 / 32166*

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