Market Profile Analysis dated 09th October 2020

Nifty Oct F:  11930 [ 11950 / 11815 ]

NF made an OAIR start and took support just above PDH (Previous Day High) as it left similar lows in the IB (Initial Balance) indicating limited downside after which it went on to make multiple REs (Range Extension) higher to close the week at new highs of 11950.

Click here to view NF continue the 6th day of imbalance on MPLite

  • The NF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Variation Day – Up (NV)
  • Largest volume was traded at 11920 F
  • Vwap of the session was at 11890 with volumes of 107.7 L and range of 135 points as it made a High-Low of 11950-11815
  • NF confirmed a FA at 10857 on 25/09 and tagged the 2 ATR objective of 11165 on 28/09. This FA has not been tagged and is now positional support.
  • The settlement day Roll Over point (Oct) is 10830
  • The VWAP & POC of Sep Series is 11353 & 11560 respectively.
  • The VWAP & POC of Aug Series is 11311 & 11311 respectively.
  • The VWAP & POC of Jul Series is 10897 & 10803 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 11870-11920-11937

HVNs – 10962 / 11220 / 11425 / 11590 / 11740 / 11870

Main Hypos for 12.10.2020:

a) NF needs to sustain above 11935 for a rise to 11961-977 / 12003-044 & 12063-079
b) The auction staying below 11918 could test 11897-874 / 11844-815 & 11799-779

Extended Hypos:
c) Above 12079, NF can probe higher to 12093-111 / 12138-147 & 12168-186
d) If 11779 is taken out, NF could fall to 11740*-727 / 11708-686 & 11656


BankNifty Oct F:  23903 [ 23965 / 23151 ]

BNF also made an OAIR start as it made a low of 23151 in the A period and went on to leave an extension handle at 23395 to start a fresh move higher getting above the weekly VPOC of 23660 as it made highs of 23965 before closing the week at 23903.

Click here to view BNF continue the current imbalance on MPLite

  • The BNF Open was a Open Auction In Range (OAIR)
  • The Day type was a Double Distribution Trend Day – Up (DD)
  • Largest volume was traded at 23880 F
  • Vwap of the session was at 23609 with volumes of 95.8 L and range of 814 points as it made a High-Low of 23965-23151
  • BNF had confirmed a FA at 20431 on 25/09 and tagged the 2 ATR objective of 21490 on 28/09. This FA has not been tagged and is now positional support.
  • The settlement day Roll Over point (Oct) is 20490
  • The VWAP & POC of Sep Series is 22320 & 22320 respectively.
  • The VWAP & POC of Aug Series is 22444 & 21595 respectively.
  • The VWAP & POC of Jul Series is 22163 & 22087 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 23555-23880-23945

HVNs – 20538 / 20822 / 21400 / 22090 / 22640 / 22890 / 23000

Main Hypos for 12.10.2020:

a) BNF needs to sustain above 23946 for a rise to 24011-090 / 24171-226 / 24292-361 & 24475
b) The auction staying below 23880 could test 23805-736 / 23675-610 / 23560-460 & 23390-335

Extended Hypos:

c) Above 24475, BNF can probe higher to 24580-650 / 24720-800 / 24860-936 & 25000-060
d) Breaking below 23335, it could fall to 23285-190 / 23070-000* / 22942-900 & 22815-750

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