Market Profile Analysis dated 11th December 2020

Nifty Dec F:  13518 [ 13599 / 13414 ]

NF made a strong open and went on to tag the 1 ATR objective of 13580 in the IB but a ‘C’ side extension which saw new highs of the week at 13594 being rejected meant that the initiative longs were booking out and some laggard longs were entering. NF remained in a narrow range forming a ‘p’ shape profile for the day and even made another attempt to break higher in the ‘G’ period where it made marginal new highs of 13599 but the break of VWAP in the ‘I period led to a huge liquidation move as the auction not only got back into previous day’s range but re-visited that FA of 13425 and tagged the VPOC of 13421 while making a low of 13414 from where it made a quick bounce back to the day’s VWAP into the close leaving the third Neutral profile of the week. Value for the day was higher but NF will need to sustain above today’s prominent POC of 13575 for the PLR to remain on the upside.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Rejection Reverse – Up (ORR)
  • The Day type was a Neutral Day (NeuD)
  • Largest volume was traded at 13575 F
  • Vwap of the session was at 13532 with volumes of 108.7 L and range of 185 points as it made a High-Low of 13599-13414
  • NF confirmed a FA at 13425 on 10/12 and tagged the 1 ATR objective of 13580 on 11/12. The 2 ATR target comes to 13737.
  • The settlement day Roll Over point (Dec) is 12974
  • The VWAP & POC of Nov Series is 12554 & 12862 respectively.
  • The VWAP & POC of Oct Series is 11793 & 11897 respectively.
  • The VWAP & POC of Sep Series is 11353 & 11560 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 13505-13575-13595

HVNs – 13020 / 13084 / 13190 / 13440*


BankNifty Dec F:  30609 [ 30865 / 30337 ]

BNF continued previous day’s closing imbalance at open as it made the biggest IB range of 285 points for the week with the help of a buying tail from 30741 to 30580 to hit 30865 but could take out the 9th Dec DD highs of 30877 which meant that the buyers were running out of fuel. The auction then negated the morning singles & made multiple REs lower as it got back into Thursday’s Value hitting the HVN of 30436 and almost tagged high volume zone near 30300 as it made a low of 30337 where it was swiftly rejected to give a move back to the day’s VWAP before closing the day at 30609 leaving a balanced profile with overlapping to higher Value.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Test Drive – Up (OTD on lower volumes)
  • The Day type was a Normal Variation Day – Down (NV)
  • Largest volume was traded at 30625 F
  • Vwap of the session was at 30635 with volumes of 57.3 L and range of 528 points as it made a High-Low of 30865-30337
  • BNF confirmed a FA at 30021 on 07/12 and tagged the 1 ATR objective of 30660 on 09/12. The 2 ATR target comes to 31298.
  • BNF confirmed a FA at 29000 on 26/11 and tagged the 2 ATR objective of 30355 on 07/12. This FA has not been tagged and is now positional support.
  • The settlement day Roll Over point (Dec) is 29629
  • The VWAP & POC of Nov Series is 28104 & 29565 respectively.
  • The VWAP & POC of Oct Series is 23740 & 24468 respectively.
  • The VWAP & POC of Sep Series is 22320 & 22320 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 30543-30625-30786

HVNs – 29650* / 30100 / 30300

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