Market Profile Analysis dated 11th February 2021

Nifty Feb F:  15185 [ 15202 / 15075]

NF opened lower right at the previous day’s prominent POC of 15087 and took support at yVWAP as it made a low of 15075 after which it made an initiative move on the upside leaving a long buying tail in the IB from 15135 to 15075 as it went on to match the similar highs of yesterday at 15168 indicating that supply was intact in this zone of 15170 to 15186. The auction then made a slow probe lower till the ‘F’ period on below average volumes getting accepted in the morning tail as it got back to that magnet of 15120 but fresh demand over here saw it reversing the probe higher and in the process NF left a PBL (Pull Back Low) at 15112 and went on to make a RE (Range Extension) in the ‘G’ period tagging new highs of 15175 but was swiftly rejected once again from this strong supply zone as it played ping pong in the day’s developing Value completing the 80% Rule multiple times on both sides till the ‘J’ period forming a ‘p’ shape profile. The ‘K’ period then spiked higher as it went on to tag the higher reference 15186 and continued the spike into the close as NF tagged 15202 before closing the day at 15185. Value for the day was completely higher compared to previous day but the weekly profile is forming a nice balance with the 4-day composite Value at 15069-15120-15168 so staying above this Value, the PLR would be on the upside towards the VPOC of 15230 & new ATH of 15336 in the coming session. Spike Rules will be in play for the next open and the spike reference would be 15168 to 15202.

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 Day (‘p’ shape profile with a spike)
  • Largest volume was traded at 15153 F
  • Vwap of the session was at 15145 with volumes of 73.6 L and range of 127 points as it made a High-Low of 15202-15075
  • 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+6’ 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 15110-15153-15168

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


BankNifty Feb F:  35809 [ 36067 / 35630 ]

BNF gave yet another OAIR start and formed the narrowest range of this series at just 437 points as it remained completely inside previous day’s 3-1-3 profile forming a perfect 2-day Gaussian profile with Value at 35730-35793-35998 and has closed right at the composite POC so can expect a move away from here in the coming session(s) with the upside references being the VPOC of 36330 & the FA of 36503 and on the downside, the probable targets would be the VPOC of 35332 & 34920.

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 Day (Inside Bar)
  • Largest volume was traded at 35820 F
  • Vwap of the session was at 35827 with volumes of 41.4 L and range of 437 points as it made a High-Low of 36067-35630
  • 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+6’ 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 35709-35820-35893

HVNs – 30041 / 30534 / 30996 / 34407 / 35751* / 35920 / 36339

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