Market Profile Analysis dated 10th November 2020

Nifty Nov F:  12659 [ 12667 / 12482 ]

NF continued the trend of opening with a gap up but today it retraced the entire gap of 115 points in the opening minutes as it made a low of 12482 taking support right at PDH (Previous Day High) and this defense of the spike close hinted that the PLR (Path of Least Resistance) remained on the upside. The auction then probed higher till the ‘H’ period making couple of big REs (Range Extension) as it hit 12639 where lack of fresh demand led to an inventory adjustment move in the ‘J’ period as NF broke below the VWAP for the first time after ‘A’ period leaving lower low of 12533 in the ‘K’ period but saw a swift reversal from there as it not only scaled back above VWAP but went on to make new highs for the day into the close leaving a small spike of 12639 to 12667 which would be the reference for the next open.

Click here to view the latest profile of NF on MPLite

  • The NF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Normal Variation Day – Up (with a spike close)
  • Largest volume was traded at 12590 F
  • Vwap of the session was at 12582 with volumes of 153.2 L and range of 185 points as it made a High-Low of 12667-12482
  • NF confirmed a FA at 11744 on 04/11 and tagged the 2 ATR objective of 12089 on 05/11. This FA is currently on ‘T+5’ Days.
  • The settlement day Roll Over point (Nov) is 11665
  • The VWAP & POC of Oct Series is 11793 & 11897 respectively.
  • The VWAP & POC of Sep Series is 11353 & 11560 respectively.
  • The VWAP & POC of Aug Series is 11311 & 11311 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 12559-12590-12666

HVNs – 11740 / 11819

Hypos for 11.11.2020:

a) NF needs to sustain above 12667 for a rise to 12730 / 12772 / 12819 & 12870
b) The auction staying below 12655 could test 12620 / 12565 / 12503 & 12450


BankNifty Nov F:  28640 [ 28796 / 27832 ]

BNF persisted with it’s relentless march on the upside as it not only opened with a gap up of 477 points but left a buying tail in the IB from 28090 to 27832 and continued to make an OTF (One Time Frame) probe higher till the ‘J’ period where it hit 28796 but the shifting of the dPOC higher to 28655 meant that the longs were booking profits which the marked the end of the imbalance for the day as it made lower lows for the first time triggering a quick swipe to the day’s VWAP where it left a PBL of 28291 in the ‘K’ period. The rejection at VWAP indicated that the demand was coming back in this zone leading to a bounce back to 28700 before the auction closed around the dPOC which would be the reference for the next open along with the small selling tail at top from 28725 to 28796.

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 Vairation Day – Up (NV)
  • Largest volume was traded at 28655 F
  • Vwap of the session was at 28365 with volumes of 101.3 L and range of 964 points as it made a High-Low of 28796-27832
  • The settlement day Roll Over point (Nov) is 24110
  • The VWAP & POC of Oct Series is 23740 & 24468 respectively.
  • The VWAP & POC of Sep Series is 22320 & 22320 respectively.
  • The VWAP & POC of Aug Series is 22444 & 21595 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 28231-28655-28770

HVNs – 24110 / 25455 / 26300

Hypos for 11.11.2020:

a) BNF needs to sustain above 28725 for a rise to 28835 / 28920 / 29060 / 29179 / 29365 & 29500
b) The auction staying below 28655 could test 28480 / 28352 / 28180 / 28090 / 27930 & 27765

For more tradeable ideas and intraday trading strategies based on MarketProfile and the OrderFlow live charts with OrderFlow analysis Live, subscribe to the trading room. The Vtrender Trading Room hosts India’s largest MarketProfile community live every trading session from 9.15 am to 3.30 pm.

If not a Trading Room member you can get immediate access at – https://www.explara.com/e/vtrendertradingroomlive