Market Profile Analysis dated 08th March 2021

Nifty Mar F:  14969 [ 15140 / 14927 ]

NF opened above Friday’s POC & VWAP of 14970 & 14985 and continued to probe higher in the IB (Initial Balance) as it not only negated the selling tail but went on to scale above PDH (Previous Day High) as it made a high of 15140 leaving a big IB range of 160 points but similar to Friday’s auction left singles at top in the ‘B’ period marking the end of the upmove. NF then played out the 80% Rule in Friday’s Value while making multiple REs to the downside as it made similar lows of 14940 in the ‘I’ & ‘J’ period indicating exhaustion in the probe lower and this led to a sharp bounce in the ‘K’ period with the reverse 80% Rule being completed resulting in a PBH at 15071 after which the auction completed the hat-trick of swiping through previous Value with one last round to the downside in the ‘L’ period as it made new lows for the day at 14927 and looked like it would close in a spike but got rejected triggering another quick bounce to 14995 into the close. Value for the day was entirely overlapping giving a nice 2-day Gaussian profile with Value at 14955-15027-15061 and can look for a move away from here in the coming session(s).

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Day (3-1-3 profile)
  • Largest volume was traded at 15044 F
  • Vwap of the session was at 15027 with volumes of 136.1 L and range of 213 points as it made a High-Low of 15140-14927
  • NF confirmed a FA at 14776 on 02/03 and completed the 2 ATR objective of 15203 on 03/03. This FA is currently on ‘T+5’ Days.
  • The settlement day Roll Over point (Mar) is 15174
  • The VWAP & POC of Feb Series is 14893 & 15115 respectively.
  • The VWAP & POC of Jan Series is 14288 & 14569 respectively.
  • The VWAP & POC of Dec Series is 13528 & 13528 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 14974-15044-15060

HVNs – 14810 / 14894 / 15037* / 15230


BankNifty Mar F:  35316 [ 35888 / 35100 ]

BNF made an Open Test Drive Up on low volumes moving away from previous POC of 35310 as it tagged the first VPOC of 35730 in the A period itself and continued to probe higher for the rest of the IB where it made a high of 35888. The auction then broke below VWAP in the ‘C’ period negating the drive which inturn led to new lows for the day being hit at 35155 in the ‘D’ period as BNF got back into previous balance and continued to build on the same for the rest of the day leaving a 2-day Gaussian profile with Value at 35170-35368-35538 and has a very good chance to move away from the prominent POC of 35368 in the coming session(s).

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Test Drive (Up) on low volumes (OTD)
  • The Day type was a Normal Day
  • Largest volume was traded at 35368 F
  • Vwap of the session was at 35453 with volumes of 53.6 L and range of 789 points as it made a High-Low of 35888-35100
  • The settlement day Roll Over point (Mar) is 36719
  • The VWAP & POC of Feb Series is 35530 & 35820 respectively.
  • The VWAP & POC of Jan Series is 31597 & 32062 respectively.
  • The VWAP & POC of Dec Series is 30270 & 30766 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 35184-35368-35587

HVNs – 35290* / 35640

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