Market Profile Analysis dated 10th December

Nifty Dec F: 11898 [ 11976/ 11884 ]

HVNs – 11900 / (11930) / 11965 / 12090 / 12108 / 12128-143 / 12192

NF did get rejected from the yPOC of 11965 at open after it made a high of 11976 but did not give the expected move away from the 2-day composite as it settled down with an OAIR (Open Auction In Range) start and continued to balance inside the previous day’s range with a slow OTF (One Time Frame) move lower till the E period where it made lows of 11925. The ‘F’ period them made a higher high for the first time in the day on 30 minutes as it probed above VWAP but was rejected leaving a PBH (Pull Back High) at 11950 and this triggered a fresh RE to the downside as the auction broke below PDL (Previous Day Low) and continued making lower lows till the ‘L’ period as it hit 11884 and in the process left an extension handle at 11913 and went on to complete the 2 IB move down to form a Normal Variation Day (Down) with a spike close so the Spike Rules will come into play for the next session with the reference being 11884 to 11913.

(Click here to view the NF make lower Value from the 2-day composite)

  • The NF Open was an Open Auction In Range (OAIR)
  • The day type was a Normal Variation Day – Down  (NV)
  • Largest volume was traded at 11900 F
  • Vwap of the session was at 11929 with volumes of 73 L and range of 92 points as it made a High-Low of 11976-11884
  • NF confirmed a FA at 12116 on 05/12 and tagged the 2 ATR objective of 11924 on 09/12. This FA is currently on ‘T+4’ Days
  • The Trend Day VWAP of 06/12 at 12005 will be important reference on the upside.
  • The Trend Day VWAP of 29/10 at 11848 will be important reference on the downside.
  • The settlement day Roll Over point (Dec) is 12153
  • The VWAP & POC of Nov Series is 11954 & 11910 respectively.
  • The VWAP & POC of Oct Series is 11461 & 11365 respectively.
  • The VWAP & POC of Sep Series is 11127 & 10960 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 11887-11900-11940

Hypos / Estimates for the next session:

a) NF has immediate supply at 11910 above which it could rise to 11932 / 11945-950 & 11971-975
b) The auction has support at 11890 below which it could fall to 11871-860 / 11848-843 & 11816*-810
c) Above 11975, NF can probe higher to 12003-10 / 12027-30 & 12048-54
d) Below 11810, auction becomes weak for 11795 / 11771-767 & 11749-744
e) If 12054 is taken out, the auction go up to to 12075 / 12090-96 & 12116-120
f) Break of 11744 can trigger a move lower to 11729 / 11709 & 11689


BankNifty Dec F: 31226 [ 31445 / 31188 ]

HVNs – 31236 / 31325 / [31380-400] / 31660 / 31855 / 32090 / [32150-160]

BNF also was an OAIR today with an almost OH (Open=High) start at 31440-31445 which marked the upside for the open after which the auction probed lower hitting 31278 leaving a 167 point range in the ‘A’ period which also became the range for most part of the day as BNF was forming a Gaussian profile in the previous day’s range with failed attempts to break both sides of the IB as it first got rejected from after making a RE to the downside in the E period as it made new lows at 31257 but was swiftly sent back into the IB which led to a move higher till the ‘H’ period where it almost tagged the day high stalling at 31439 to leave poor highs. This exhaustion empowered the sellers to push BNF lower for the rest of the day as it made a trending move down for the next 4 periods making a new RE in the ‘K’ period and followed it by a lower low in the ‘L’ period as it broke below PDL to make new lows for the week at 31188 where it left a small tail to close around the HVN of 31236 where even the dPOC for the day had shifted and will be the important reference for the next open. Staying above 31235, the auction could be attracted towards the HVN zone of 31380-395 which is also the POC of the 2-day balance and the chart of the same can be viewed below.

(Click here to view the new 2-day composite in BNF with overlapping POC)

  • The BNF Open was an Open Auction In Range (OAIR)
  • The day type was a Normal Variation Day – Down  (NV)
  • Largest volume was traded at 31235 F
  • Vwap of the session was at 31331 with volumes of 26.8 L and range of 257 points as it made a High-Low of 31445-31188
  • BNF confirmed a FA at 32173 on 05/12 and tagged the 2 ATR target of 31501 on 06/12. This FA is currently on ‘T+4’ Days
  • The Trend Day VWAP of 06/12 at 31625 will be important reference on the upside.
  • The Trend Day VWAP of 06/11 at 30587 will be important reference on the downside.
  • The settlement day Roll Over point (Dec) is 32160
  • The VWAP of Nov Series is 30699.
  • The VWAP & POC of Oct Series is 28784 & 28415 respectively.
  • The VWAP & POC of Sep Series is 28416 & 27160 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 31260-31235-31392

Hypos / Estimates for the next session:

a) BNF needes to sustain above 31235 for a move to 31278 / 31316-325 & 31380-395
b) Immediate support is at 31220-190 below which the auction could test 31137 / 31073-049 & 31002
c) Above 31395, BNF can probe higher to 31445-485 / 31550 & 31600-625
d) Below 31002, lower levels of 30968-947 / 30891* & 30836 could be tagged
e) If 31625 is taken out, BNF can give a fresh move up to 31689-705 / 31760 & 31855-860
f) Below 30836, we could see lower levels of 30770-750 / 30694-660 & 30585-580

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