Market Profile Analysis dated 09th March 2021

Nifty Mar F:  15135 [ 15180 / 14953 ]

NF made yet another higher open and continued to drive on the upside in the A period as it looked to move away from the 2-day Gaussian profile hitting new highs for the week at 15148 but could not sustain and once it broke the day’s VWAP, there was a long liquidation move in the ‘B’ period leading to new lows for the day at 15056 as the auction took support right at the VAH of the 2-day composite. This was followed by a balance for the next couple of hours as NF remained in the IB range leaving a PBH at 15130 in the ‘F’ period and as often happens in the case of a day where a narrow range is being developed post open, the ‘G’ period made a fresh move to the downside as the auction entered the 2-day composite initiating the 80% Rule and trended lower for the next 2 periods as it made a low of 14953 achieving the dual objective of completing the 2 IB objective for the day plus hitting the VAL of the composite which was at 14955. The rejection at VAL then triggered the reverse 80% Rule into play as NF probed higher not only hitting the VAH of 15061 in the ‘K’ period but followed it up with a big short covering spike into the close as it made new highs for the day at 15180 leaving a Neutral Profile with mostly higher Value for the day. Today’s HVN of 15122 & the VWAP of 15075 would be the imortant references on the downside for the coming session whereas on the upside, NF would need to get accepted above 15160 for a test of that seller zone from 15204-15240.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Drive – Up (OD)
  • The Day type was a Neutral Day (NeuD)
  • Largest volume was traded at 15088 F
  • Vwap of the session was at 15075 with volumes of 127.1 L and range of 227 points as it made a High-Low of 15180-14953
  • 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+6’ 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 15039-15088-15156

HVNs – 14810 / 14894 / 15037* / 15230


BankNifty Mar F:  35933 [ 36154 / 35604 ]

BNF opened with a big gap up of 352 points and tagged the VPOC of 35730 in the opening minutes after which it continued to probe higher in the first half of the day making multiple REs in the E & F period to tag 36154. The auction however lost the momentum due to lack of fresh demand which was eveident in it’s failure to tag the 1.5 IB objective of 36178 inspite of staying above the IBH for good time and this led to a long liquidation move as the ‘G’ period got back into the IB followed by a VWAP break in the ‘H’ period which brought in marginal new lows for the day at 35605 in the ‘I’ period. However, this IBL break was swiftly rejected as BNF got back to tag the IBH in the ‘L’ period thereby confirming a FA (Failed Auction) at lows but would need to stay above today’s IBH of 35994 in the coming session. The day’s profile in a Neutral Centre one with completely higher Value along with a prominent POC at 35840 with the bias slightly to the upside for a probe towards the VPOCs of 36480 & 36830.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auction (OA)
  • The Day type was a Neutral Day (NeuD)
  • Largest volume was traded at 35840 F
  • Vwap of the session was at 35840 with volumes of 55.7 L and range of 550 points as it made a High-Low of 36154-35605
  • BNF confirmed a FA at 35605 on 09/03 and the 1 ATR objective comes to 36510.
  • 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 35726-35840-35959

HVNs – 35290* / 35640

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