Market Profile Analysis dated 09th November 2020

Nifty Nov F:  12467 [ 12485 / 12377 ]

NF opened with a big gap up of 132 points and went on to make new ATH (All Time High) of 12453 in the IB (Initial Balance) and remained in the narrow 77 point IB range for most part of the day which was divided into 2 parts where the first half, the auction probed lower till the ‘E’ period where it made similar lows as the ‘A’ period of 12377 and unable to find fresh supply to extend the range to the downside reversed the probe for the rest of the day ending with a small spike of 12453 to 12485 into the close leaving a well balanced Normal Day.

Click here to view the latest profile of NF on MPLite

  • The NF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Normal Day (with a spike close)
  • Largest volume was traded at 12428 F
  • Vwap of the session was at 12422 with volumes of 104.1 L and range of 108 points as it made a High-Low of 12485-12377
  • NF confirmed a FA at 11744 on 04/11 and tagged the 2 ATR objective of 12089 on 05/11. This FA is currently on ‘T+4’ Days.
  • The settlement day Roll Over point (Nov) is 11665
  • The VWAP & POC of Oct Series is 11793 & 11897 respectively.
  • The VWAP & POC of Sep Series is 11353 & 11560 respectively.
  • The VWAP & POC of Aug Series is 11311 & 11311 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 12401-12428-12450

HVNs – 11740 / 11819

Hypos for 10.11.2020:

a) NF needs to sustain above 12475 for a rise to 12530 / 12576 / 12650 & 12698
b) The auction staying below 12450 could test 12413 / 12385 / 12328 & 12260


BankNifty Nov F:  27523 [ 27594 / 27021 ]

BNF also opened higher by 300 points giving an almost OL (Open=Low) start at 27050 and formed a relatively large IB range as it made highs of 27460 in the ‘B’ period after which it remained in this IB range for most of the day as it probed lower till the ‘E’ period where it left a PBL (Pull Back Low) at 27105 from where it reversed the probe to the upside and even made a late RE (Range Extension) higher in the ‘K’ period to give a spike higher to 27594 in the closing period leaving a 3-1-3 Normal Profile for the day.

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 Normal Day (3-1-3 Profile)
  • Largest volume was traded at 27350 F
  • Vwap of the session was at 27309 with volumes of 74.6 L and range of 573 points as it made a High-Low of 27594-27021
  • The settlement day Roll Over point (Nov) is 24110
  • The VWAP & POC of Oct Series is 23740 & 24468 respectively.
  • The VWAP & POC of Sep Series is 22320 & 22320 respectively.
  • The VWAP & POC of Aug Series is 22444 & 21595 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 27202-27350-27425

HVNs – 24110 / 25455 / 26300

Hypos for 10.11.2020:

a) BNF needs to sustain above 27588 for a rise to 27680 / 27765 / 27899 / 28012 & 28158
b) The auction staying below 27460 could test 27311 / 27214 / 27128 / 27025 & 26900

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