Market Profile Analysis dated 09th February 2021

Nifty Feb F:  15106 [ 15266 / 15062 ]

NF opened with a small gap up and stayed above the yPOC of 15128 in the IB (Initial Balance) indicating that the PLR (Path of Least Resistance) was on the upside as it continued to probe higher leaving an extension handle at 15188 in the C period and went on to complete the 2 IB objective of 15242 in the ‘E’ period after which it began to stall with the day’s POC also shifting higher to 15230 indicating profit booking by the morning buyers. The auction then made marginal new highs in the ‘H’ period followed by a fresh RE (Range Extension) in the ‘I’ as it seemed to be consolidating above 15230 and getting ready for a spike into the close as it put another RE in the ‘K’ period hitting new highs of 15266 which was also the 2 ATR objective from the FA of 14731 but could not sustain above it and this got back the sellers into the equation as they pushed NF back below 15230 and for the first time in the day broke below VWAP which triggered a huge liquidation move in the ‘L’ period with the auction making a RE to the downside and completing the 2 IB objective of 15080 as it tested previous day’s PBL (Pull Back Low) of 15066 while making a low of 15062. The auction then gave a retracement to 15142 before closing the day at 15106 leaving a Neutral Extreme Down Profile with completely higher Value as the series POC also shifted higher to 15120.

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 Extreme Day – Down (NeuX)
  • Largest volume was traded at 15230 F
  • Vwap of the session was at 15186 with volumes of 99 L and range of 204 points as it made a High-Low of 15266-15062
  • NF confirmed a FA at 14731 on 04/02 and completed the 2 ATR objective of 15265 on 09/02.
  • The settlement day Roll Over point (Feb) is 13809
  • The VWAP & POC of Jan Series is 14288 & 14569 respectively.
  • The VWAP & POC of Dec Series is 13528 & 13528 respectively.
  • The VWAP & POC of Nov Series is 12554 & 12862 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 15147-15230-15250

HVNs – 13886 / 14015 / 14172 / 14664 / 14820 / 14879 / 15120*


BankNifty Feb F:  36046 [ 36500 / 35655 ]

BNF made a freak tick in the opening minute where it made a high of 36580 & a low of 35639 but both did not have any volumes attached to it so were ignored as the auction stayed below the yPOC of 36050 and probed lower in the IB (Initial Balance) breaking below PDL (Previous Day Low) of 35860 and almost tagging that freak low of 35639 as it made a low of 35655 where it found some demand coming back around the HVN of 35700 which pushed the auction above VWAP in the 2nd half of the ‘B’ period. This scaling of VWAP was as good as failure of an open drive down as the late sellers got trapped and were forced to exit triggering a big move higher in the C period where BNF got back into the 2-day balance and made a slow probe higher till the ‘I’ period as it tagged the composite VAH of 36436 completing the 80% Rule. The ‘K’ period then saw another fresh RE (Range Extension) on the upside as BNF made a high of 36500 but got stalled right below the FA of 36503 indicating that the supply was back and gave a ultra quick fall into the close as it completed the reverse 80% Rule in the 2-day Value of 36436-36043-35917 while making a low of 35905 in the ‘L’ period before closing the day at 36045. The range & value was once again inside last Friday’s range so we now have a smoother 3-day composite in BNF with Value at 35935-36319-36438 and with the series POC also shifting higher to 36339 today.

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 Normal Variation Day – Up (NV)
  • Largest volume was traded at 36330 F
  • Vwap of the session was at 36146 with volumes of 58 L and range of 845 points as it made a High-Low of 36500-35655
  • BNF confirmed a FA at 36503 on 08/02 and the 1 ATR objective comes to 35533.
  • BNF confirmed a FA at 34343 on 04/02 and completed the 2 ATR objective of 36091 on 05/02.
  • The settlement day Roll Over point (Feb) is 30445
  • The VWAP & POC of Jan Series is 31597 & 32062 respectively.
  • The VWAP & POC of Dec Series is 30270 & 30766 respectively.
  • The VWAP & POC of Nov Series is 28104 & 29565 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 36002-36330-36440

HVNs – 30041 / 30534 / 30996 / 34407 / 36339*

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