Market Profile Analysis dated 10th December 2020

Nifty Dec F:  13524 [ 13544 / 13425 ]

NF made a gap down below the lower HVN of 13510 and was rejected from 13520 in the probe higher at open as it gave a swift move lower in the IB (Initial Balance) even breaking below PDL (Previous Day Low) as it hit 13440. The auction then gave a retracement to VWAP in the ‘C’ period after which it tested the morning selling tail in the ‘D’ period where it left a PBH (Pull Back High) at 13490 indicating that the downside leg is still not complete and this led to the break of VWAP on the downside in the ‘E’ period which was followed by a swipe down in the ‘F’ period as NF made new lows for the day at 13425 but was swiftly rejected back into the IB from just above the VPOC of 13421. The next couple of hours saw a balance being formed between VWAP & IBL as volumes were being built at 13440 with a ‘b’ shape profile being formed for the day with a prominent POC at 13455 but the ‘K’ period gave a move away from this POC on the upside as NF got above the PBH of 13490 and went on to make a RE (Range Extension) on the upside as it hit 13544 in the ‘L’ period before closing the day at 13524 leaving a Neutral Day and in the process confirmed the first FA (Failed Auction) of the series at 13425. The first objective of this FA would be 13580 which is also the zone of the upper HVN of the DD profile (9th Dec).

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Rejection Reverse – Down (ORR)
  • The Day type was a Neutral Day (NeuD)
  • Largest volume was traded at 13455 F
  • Vwap of the session was at 13472 with volumes of 90.3 L and range of 119 points as it made a High-Low of 13544-13425
  • NF confirmed a FA at 13425 on 10/12 and the 1 ATR objective comes to 13580.
  • The settlement day Roll Over point (Dec) is 12974
  • The VWAP & POC of Nov Series is 12554 & 12862 respectively.
  • The VWAP & POC of Oct Series is 11793 & 11897 respectively.
  • The VWAP & POC of Sep Series is 11353 & 11560 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 13435-13455-13484

HVNs – 13020* / 13084 / 13190 / 13440


BankNifty Dec F:  30622 [ 30690 / 30255 ]

BNF also made a lower open as it took support brief support near the extension handle of 30589 to give a bounce higher but could only tag 30678 from where it made a trending move lower of 237 points in the IB as it hit yesterday’s lower HVN of 30456 while making a low of 30440 and in the process left an initiative selling tail from 30533 to 30678. The auction then made a ‘C’ side extension lower but was rejected from the previous day’s singles of 30420 to 30355 and it gave the customary visit to VWAP in the ‘D’ period but left a PBH at 30525 which meant that the morning sellers were still active & in control. BNF then resumed the probe lower and went on to make a fresh RE in the ‘F’ period as it broke below PDL and entered the 2-day composite of 7th-8th Dec and tagged the POC of that composite which was at 30309 to the dot which led to some profit booking by the sellers giving the second bounce of the day to VWAP but once again was rejected from there in the ‘I’ period as the auction left a new PBH of 30479 trigerring a fast drop lower as some weak longs were forced to exit resulting in new lows of 30255 being made for the day in the ‘K’ period which was the VWAP of the 2-day composite mentioned above. Demand returned in a big way at these new lows giving big move into the close as BNF not only retraced the entire fall of the day but went on to make new highs for the day at 30690 before closing at 30622 which is where even the dPOC of the day shifted leaving the third Neutral Day in four days this week which is forming a nice balance with a prominent POC at 30300 levels.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Rejection Reverse – Down (ORR)
  • The Day type was a Neutral Day (NeuD)
  • Largest volume was traded at 30617 F
  • Vwap of the session was at 30455 with volumes of 51 L and range of 435 points as it made a High-Low of 30690-30255
  • BNF confirmed a FA at 30021 on 07/12 and tagged the 1 ATR objective of 30660 on 09/12. The 2 ATR target comes to 31298.
  • BNF confirmed a FA at 29000 on 26/11 and tagged the 2 ATR objective of 30355 on 07/12. This FA has not been tagged and is now positional support.
  • The settlement day Roll Over point (Dec) is 29629
  • The VWAP & POC of Nov Series is 28104 & 29565 respectively.
  • The VWAP & POC of Oct Series is 23740 & 24468 respectively.
  • The VWAP & POC of Sep Series is 22320 & 22320 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 30408-30617-30670

HVNs – 29650* / 30100 / 30300

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