Market Profile Analysis dated 10th February 2021

Nifty Feb F:  15119 [ 15170 / 14984 ]

Neutral Extreme days are known not to give any follow up at the next open and today was no different as NF made an OL (Open=Low) start at 15105 and probed higher in the ‘A’ period as it made a high of 15170 stalling just below yesterday’s VWAP and SOC (Scene of Crime) of 15186 where the sellers seemed to have got back reversing the probe to the downside as the auction broke below the OL start and went on to make lower lows of 15066 in the ‘B’ period. The ‘C’ period continued this momentum lower with a big RE (Range Extension) as it not only went below PDL (Previous Day Low) but also made new lows for the week at 15008 completing the 1.5 IB objective for the day and the fall of 162 points in quick time led to good profit booking followed by a short covering move over the next 3 periods as NF got back into the IB (Initial Balance) and even scaled above the day’s VWAP but left a PBH (Pull Back High) at 15134 in the ‘F’ period indicating the morning selling tail of 15139 to 15170 to still be active. The auction then once again reversed the probe to the downside as it broke below VWAP in the ‘H’ period and went on to make a fresh RE lower in the ‘I’ period as it tested the gap singles of 8th Feb followed by another lower low of 14984 in the ‘J’ period stopping just above the VAH of 5th Feb also marking the end of the OTF (One Time Frame) move lower as the ‘K’ period got back into the IB triggering another short squeeze move into the close as NF found big buyers once again in the dip in the ‘L’ period after which it went on to get into the morning singles and make a high of 15161 closing the day as a Bell Curve. Value however was completely lower so the auction would need to get accepted above 15186 in the next session to continue this probe higher and on the downside today’s dPOC of 15087 would be the immediate reference below which 15020 would be the important level to hold. On the larger timeframe, NF continues to build volumes at the series developing of POC 15120 which would continue to act as a magnet unless we get initiative volumes to signal a move away from here.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Variation Day – Down (Bell Curve)
  • Largest volume was traded at 15087 F
  • Vwap of the session was at 15076 with volumes of 125.9 L and range of 186 points as it made a High-Low of 15170-14984
  • NF confirmed a FA at 14731 on 04/02 and completed the 2 ATR objective of 15265 on 09/02. This FA is currently on ‘T+5’ Days.
  • The settlement day Roll Over point (Feb) is 13809
  • The VWAP & POC of Jan Series is 14288 & 14569 respectively.
  • The VWAP & POC of Dec Series is 13528 & 13528 respectively.
  • The VWAP & POC of Nov Series is 12554 & 12862 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 15020-15087-15122

HVNs – 13886 / 14015 / 14172 / 14664 / 14820 / 14879 / 15120*


BankNifty Feb F:  35875 [ 36253 / 35463 ]

BNF signalled a move away from the 3-day balance as it stayed below the composite POC of 36339 and left an initiative selling tail in the IB from 36098 to 36253 and similar to NF made a good C side extension lower as it hit 35750 but the fall looked a bit streched leading to a retracement back into the IB and above the day’s VWAP as the auction probed higher till the ‘F’ period where it tested the morning tail and got rejected leaving a PBH at 36114 which indicated that the sellers coming back in this zone. BNF then initiated a fresh leg lower and went on to make a new RE in the ‘I’ period followed by lows of 35567 in the ‘J’ period as it almost completed the 1 ATR objective of 35533 from the FA of 36503 and gave a retracement to 35834 where it got rejected from the combo of IBL & the day’s VWAP leading to another RE lower in the ‘L’ period where it tagged 35463 taking support just above the weekly VAL of 35430 after which it made a swift move higher into the close getting back into the IB and making a high of 36005 leaving a 3-1-3 profile for the day instead of a ‘b’ shape one. Today’s Value was overlapping to lower with a prominent POC at 35947 with the series POC also shifting down to 35920 from 36339 which could be because of the shorts booking profit. The inability to move away from the balance is now giving a 4-day composite with Value at 35750-35943-36339 and it remains to be seen if BNF continues to build on this or gives a move away from here.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Variation Day – Down (3-1-3 profile)
  • Largest volume was traded at 35947 F
  • Vwap of the session was at 35875 with volumes of 58.5 L and range of 790 points as it made a High-Low of 36253-35463
  • BNF confirmed a FA at 36503 on 08/02 and tagged the 1 ATR objective of 35533 on 10/02. The 2 ATR target comes to 34562
  • BNF confirmed a FA at 34343 on 04/02 and completed the 2 ATR objective of 36091 on 05/02. This FA is currently on ‘T+5’ Days.
  • The settlement day Roll Over point (Feb) is 30445
  • The VWAP & POC of Jan Series is 31597 & 32062 respectively.
  • The VWAP & POC of Dec Series is 30270 & 30766 respectively.
  • The VWAP & POC of Nov Series is 28104 & 29565 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 35746-35947-36079

HVNs – 30041 / 30534 / 30996 / 34407 / 35920* / 36339

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