Market Profile Analysis dated 10th Dec

Nifty Dec F:

NF opened with a huge gap down of 150 points rejecting not just the spike close of Friday but also breaking the previous week’s low of 10611 and in doing so got below that FA of 10637 also . Till the time it stayed below these 2 levels the 1 ATR move from 10637 was on which was 10530 & it was tagged in the opening 30 mins itself. NF then consolidated making a bell on the daily & gave a pull back high at 10581 & from then trended lower into the close making new lows & closing at the lowest point. NF has a selling tail at top from 10581-10597 plus an invisible selling tail from 10597-10637-10735 in the form of the gap which will now be strong resistance. Immediate level to watch on the upside will be the dPOC of 10535 & if sustains below today’s low the levels on watch would be 10460 which is a weekly swing low & the 2 ATR move from that negated FA of 10637 which comes to 10423 & just below it we have the VPOC of 10411.

Nf Compo1 6 Market Profile Analysis Dated 10Th Dec Banknifty Futures, Charts, Day Trading, Intraday Trading, Intraday Trading Strategies, Market Profile, Market Profile Trading Strategies, Nifty Futures, Order Flow Analysis, Support And Resistance, Technical Analysis, Trading Strategies, Volume Profile Trading

    • The NF Open was a Open Drive Down (plus OAOR)
    • The day type was a Normal Variation Day (Down)
    • Largest volume was traded at 10535 F
    • Vwap of the session was at 10546 with volumes of 92.5 L in a session which traded a High-Low range of 10598-10500 for 98 points 
    • NF opened below the FA of 10637  it left on 7/12 and tagged the 1 ATR  move down of 10530, the 2 ATR target of this FA comes to 10423
    • NF had completed the 2 ATR target of 10857 from the FA of 10625 made on 27/11 and tagged that FA on 6/12 at T+6 days
    • The VWAP & POC of Nov Series 10480 & 10580 respectively, it has incidentally closed below the Nov POC today
    • The VWAP & POC of 31/10 10250 & 10248 will be important levels going forward

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 10507-10535-10561

Hypos / Estimates for the next session:

a) selling tail from 10597 is first supply zone
b) weakness will continue below 10535
c) 10468 and 10442 are 2 supports
d) short covering begins only above 10630


BankNifty Dec F:

Bnf Compo1 7 Market Profile Analysis Dated 10Th Dec Banknifty Futures, Charts, Day Trading, Intraday Trading, Intraday Trading Strategies, Market Profile, Market Profile Trading Strategies, Nifty Futures, Order Flow Analysis, Support And Resistance, Technical Analysis, Trading Strategies, Volume Profile Trading

BNF also gave a huge gap down of 400 points rejecting the spike close of Friday & also negated the extension handle of 26519 but unlike NF managed to stay above previous week’s low & consolidated in a narrow range before giving a spike above IBH in the afternoon which was swiftly rejected & BNF got back below the IBH of 26383 which meant it had a probable FA at spike high of 26453. BNF continued to build volumes at 26320 & made another attempt to get above IBH but could only make a high of 26380 after which it trended lower into the close tagging the 1 ATR target of the FA of 26453 at 26190 & also tagged the VPOC of 26180. 26380 will be an important level to watch in BNF now as it is the pull back high as well as the low of the selling tail it formed today. BNF has a larger invisible selling tail at 26453-26550-26660-26735 in form of the gap down it had today. On the downside, if BNF sustains below today’s low it could tag that weekly VPOC of 25952 & 25927 which is the 2 ATR move down from today’s FA.

  • The BNF Open was a Open Auction
  • The day type was a Neutral Extreme Day (Down)
  • Largest volume was traded at 26320 F
  • Vwap of the session was at 26297 with volumes of 25 L in a session which traded a High-Low range of 26453-26180 for 273 points
  • BNF left a FA today at 26453 and tagged the 1 ATR target of 26190, the 2 ATR move down comes to 25927
  • BNF had confirmed a multi-day FA on 05/12 at 26745 and tagged the 2 ATR target of 26237 on 06/12. This FA is currently on T+3 Days
  • BNF has stayed above the vwap of 17/10 which was 25500 and is now support
  • We had a FA at 24625 on 31/10 which has completed 1 ATR of 25102 & has stayed above the 2 ATR of 25575
  • The VWAP & POC of Nov Series 25686 & 26218 (Spot) respectively and has closed below the Nov VWAP today
  • 31st October’s VWAP of 24895 & POC of 24900 will be important levels going forward

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 26245-26320-26397

Hypos / Estimates for the next session:

a) The BNF continues to be weak below 26320
b) 26060 is the first support
c) short covering begins only above 26510

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