Market Profile Analysis dated 09th December 2020

Nifty Dec F:  13568 [ 13588 / 13456 ]

NF gave another strong open with an OL (Open=Low) start at previous VAH and left a buying tail in the IB (Initial Balance) from 13482 to 13456 as it made an OTF (One Time Frame) probe higher till the ‘F’ period where it made highs of 13532. The auction then gave a dip to VWAP as it left a PBL (Pull Back Low) at 13497 in the ‘G’ period which was defended and this led to a fresh OTF probe higher till the ‘K’ period as NF left an extension handle at 13532 and went on to hit highs of 13588 almost completing the 3 IB objective for the day before closing the day near the highest concentration of volumes which had shifted higher to 13570. The day’s profile resembles a DD (Double Distribution) with completely higher Value and has the 2 HVNs placed at 13510 & 13570 which would be the references for the coming session as the auction may want to fill up the low volume zone between them.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Rejection Reverse – Up (ORR)
  • The Day type was a Double Distribution Trend Day – Up (DD)
  • Largest volume was traded at 13570 F
  • Vwap of the session was at 13525 with volumes of 87.9 L and range of 132 points as it made a High-Low of 13588-13456
  • 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 13502-13570-13580

HVNs – 13020* / 13084 / 13190


BankNifty Dec F:  30764 [ 30877 / 30355 ]

BNF was a bit more subdued as it made an OA (Open Auction) start after a gap up open much above the 2-day composite POC of 30309 but formed one of the narrowest IB range of just 143 points which included an initiative tail in the IB from 30420 to 30355 indicating that it wants to move away from the 2-day balance and the successive Neutral Days it had formed this week. The auction then made a ‘C’ side extension which gave the customary trip to VWAP as a PBL was confirmed in the ‘D’ period with the morning singles being intact after which it made a slow probe higher making marginal fresh REs for the next 3 periods as it struggled to complete the 1.5 IB target of 30570 inspite of the small IB. However, BNF changed gears in the ‘I’ period which saw big volumes overriding all the supply that was coming in as it left an extension handle at 30589 and went on to trend higher till the ‘K’ period where it made highs of 30877 completing the 3 IB objective for the day. Similar to NF, the highest concentration of volumes shifted higher in BNF also to 30770 where the close was with the profile also being a DD and the lower HVN placed at 30456 so can expect a balance to form in the coming session between these 2 HVNs.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Double Distribution Trend Day – Up (DD)
  • Largest volume was traded at 30770 F
  • Vwap of the session was at 30613 with volumes of 44.3 L and range of 522 points as it made a High-Low of 30877-30355
  • BNF confirmed a FA at 30021 on 07/12 and tagged the 1 ATR objective of 30660 on 09/12. The 2 ATR target comes to 31298.
  • 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 30488-30770-30870

HVNs – 29650* / 30100

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