Market Profile Analysis dated 10th March 2021

Nifty Mar F:  15209 [ 15262 / 15131 ]

NF made a hat-trick of gap up opens this week (just like it had done in the previous one) but settled into an OAOR (Open Auction Out of Range) stalling in the supply zone of 15204 to 15240 as it left a selling tail in the IB (Initial Balance) from 15225 to 15262. The auction then made a C side extension lower triggering an OTF (One Time Frame) probe till the ‘G’ period as it broke below 15160 and made a low of 15131 taking support just above the HVN of 15122 which indicated that the demand was coming back. NF then reversed the probe to the upside till the ‘K’ period as it got back into the IB & tested the morning selling tail where it got rejected from 15234 to close the day right at the dPOC of 15210 leaving a 3-1-3 profile for the day with completely higher Value. The PLR (Path of Least Resistance) on the higher timeframe remains to the upside as a weekly FA has been confirmed at 14927 and the 1 ATR objective of the same comes to 15448.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Normal Variation Day – Down (3-1-3 Profile)
  • Largest volume was traded at 15210 F
  • Vwap of the session was at 15200 with volumes of 80.8 L and range of 131 points as it made a High-Low of 15262-15131
  • NF confirmed a FA at 14776 on 02/03 and completed the 2 ATR objective of 15203 on 03/03. This FA has not been tagged and is now positional support.
  • The settlement day Roll Over point (Mar) is 15174
  • The VWAP & POC of Feb Series is 14893 & 15115 respectively.
  • The VWAP & POC of Jan Series is 14288 & 14569 respectively.
  • The VWAP & POC of Dec Series is 13528 & 13528 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 15180-15210-15233

HVNs – 14810 / 14894 / 15037* / 15230


BankNifty Mar F:  36007 [ 36244 / 35816 ]

BNF yet again opened with a 300+ point gap up but also started with an OH (Open=High) at 36244 which meant that there was no fresh demand coming in and this inturn led to a trending move lower for the first half of the day as the auction made multiple REs (Range Extension) starting with the C period and went on to complete the 2 IB target of 36817 to the dot in the ‘G’ period where it took support at yesterday’s prominent POC of 35840. This defence of the yPOC led to a bounce over the next 2 periods as BNF left a PBH (Pull Back High) at 36120 and settled down to give a nicely balanced profile for the day closing right at the day’s prominent POC of 36000. Value for the day was mostly higher but has also left a selling tail from 36170 to 36244 which needs to be negated for the probe towards those VPOCs of 36480 & 36830.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Normal Variation Day – Down (Gaussian Profile)
  • Largest volume was traded at 36000 F
  • Vwap of the session was at 36019 with volumes of 35 L and range of 428 points as it made a High-Low of 36244-35816
  • BNF confirmed a FA at 35605 on 09/03 and the 1 ATR objective comes to 36510.
  • The settlement day Roll Over point (Mar) is 36719
  • The VWAP & POC of Feb Series is 35530 & 35820 respectively.
  • The VWAP & POC of Jan Series is 31597 & 32062 respectively.
  • The VWAP & POC of Dec Series is 30270 & 30766 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 35950-36000-36090

HVNs – 35290* / 35640

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