Market Profile Analysis dated 10th June 2020

Nifty Jun F:  10119 [ 10154 / 10037 ]

HVNs – 9093 / 9275 / 9433 / 9785 / 9868 / 10020 / 10094 / 10140 / 10260

Previous day’s report ended with this ‘The auction has been forming a composite over the last 5 sessions and the same can be seen here with the HVNs at 10094, 10140 & 10260 which could get a revisit in the coming session(s) provided NF does not break and gets accepted below today’s low.

NF stayed above previous day’s low & tagged 2 of the higher HVNs of 10094 & 10140 as it made highs of 10154 forming a narrow range inside day along with a Gaussian profile for the day with a prominent POC at 10108 forming Value in yesterday’s low volume zone and further adding to the larger composite it has been forming over the last 6 days. There is a good chance for the auction to move away from today’s profile either for a probe towards 10260 if gets accepted above 10140 and on the downside, staying below 10108 could bring a move to 9980.

(The 6-day composite in NF has Value at 10032-10094-10188 and the MP Lite chart of the same can be viewed here. )

  • The NF Open was a Open Auction In Range  (OAIR)
  • The day type was a Normal Day (Gaussian Profile)
  • Largest volume was traded at 10110 F
  • Vwap of the session was at 10097 with volumes of 159.6 L and range of 116 points as it made a High-Low of 10154-10037
  • The Trend Day VWAP of 9165 would be important support level.
  • The settlement day Roll Over point (Jun) is 9426
  • The VWAP & POC of May Series is 9183 & 9109 respectively.
  • The VWAP & POC of Apr Series is 8999 & 9010 respectively.
  • The VWAP & POC of Mar Series is 9146 & 8592 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 10062-10110-10122

Main Hypos for the next session:

a) NF needs to sustain above 10118 for a rise to 10140-188 / 10220-256 & 10295-320
b) Staying below 10110, the auction could test 10068-32 / 9980 & 9932

Extended Hypos:
c) Above 10320, NF can probe higher to 10345-375 / 10410-440 & 10504
d) Below 9932, the auction can fall further to 9883-68* / 9820 & 9785-65


BankNifty Jun F:  21119 [ 21300 / 20640 ]

HVNs – 17800 / 19000 / 19186 / 19980 / 20380 / 20750 / (20940) / 21000 / 21084 / (21400) / (21540)

BNF also was forming a narrow range Gaussian profile for most part of the day holding above PDL with a prominent POC at 20900 but spiked higher into the close to tag 21300. Spike rules would be in play for the next session & the reference is from 21073 to 21300.

(The 6-day composite in BNF has Value at 20595-20905-21345 and the MP Lite chart of the same can be viewed here. )

  • The BNF Open was a Open Auction In Range  (OAIR)
  • The day type was a Normal Variation Day (Gaussian Profile with a spike close)
  • Largest volume was traded at 20900 F
  • Vwap of the session was at 20884 with volumes of 86.6 L and range of 660 points as it made a High-Low of 21300-20640
  • BNF confirmed a FA at 20388 on 05/06 and completed the 1 ATR objective of 21148 on same day. The 2 ATR target from this FA comes to 21907.
  • The Trend Day VWAP of 18138 would be important support level.
  • The settlement day Roll Over point (Jun) is 19035
  • The VWAP & POC of May Series is 18767 & 19633 respectively.
  • The VWAP & POC of Apr Series is 19605 & 19710 respectively.
  • The VWAP & POC of Mar Series is 22104 & 20248 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 20765-20900-20971

Main Hypos for the next session:

a) BNF needs to sustain above 21129 for a rise to 21276-300 / 21420*-528 / 21648-695 / 21785-888 & 21932
b) Staying below 21100, the auction could test 21030 / 20955-904 / 20808-724 / 20640-555 & 20400-301*

Extended Hypos:
c) Above 21932, BNF can probe higher to 22000-110 / 22200 / 22350-448 / 22520-650 & 22720
d) Below 20301, lower levels of 20180-088 / 20022-19960 / 19877-820 / 19700-650 & 19575-500 could come into play

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