Market Profile Analysis dated 11th January 2021

Nifty Jan F:  14489 [ 14498 / 14401 ]

NF opened with a big gap up of 82 points and continued to probe higher in the IB (Initial Balance) as it made a high of 14495 in the ‘B’ period but the break of VWAP as soon as the ‘C’ period began led to a quick liquidation move of the laggard longs as the auction made new lows for the day in the form of a typical C side extension which got rejected as the demand was back at these new lows. NF formed a balance for the rest of the day bulding volumes at 14460 before giving a mini spike at close where it formed marginal new highs for the day at 14498 leaving a Normal Day with failed REs on both ends. Value was once again completely higher but the auction would need to stay above today’s high for the FA at lows to be active with a probable target of 14574 and on the downside, today’s prominent POC of 14460 would be the important level below which there could be a fresh leg to the downside.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction Out of Range plus Drive Up (OAOR + D)
  • The Day type was a Normal Day (Bell Curve with failed REs on both sides)
  • Largest volume was traded at 14465 F
  • Vwap of the session was at 14455 with volumes of 106.8 L and range of 98 points as it made a High-Low of 14498-14400
  • NF confirmed a FA at 14077 on 05/01 and tagged the 2 ATR objective of 14413 on 11/01. This FA is currently on ‘T+5’ Days.
  • The settlement day Roll Over point (Jan) is 14007
  • The VWAP & POC of Dec Series is 13528 & 13528 respectively.
  • The VWAP & POC of Nov Series is 12554 & 12862 respectively.
  • The VWAP & POC of Oct Series is 11793 & 11897 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 14445-14465-14479

HVNs – 13970 / 14040 / 14120 / 14220*


BankNifty Jan F:  32096 [ 32480 / 31888 ]

BNF made a freak OH tick at 32480 but immediately got back into previous day’s range & value as it left a long initiative selling tail in the IB from 32230 to 32480 and continued to drive lower in the C period where it left an extension handle at 32055 and went on to tag the daily VPOC of 31920 of 6th Jan and took support there at it made a low of 31888. The auction formed a balance for the rest of the day as it remained in a range of 300 points as it left a PBH at 32180 before closing around the dPOC of 32110 leaving a ‘b’ shape long liquidation profile for the day. BNF remains weak below 32080 and the PLR (Path of Least Resistance) remains to the downside unless it gets accepted above 32180 & is able to form Value above 32260 in the coming session(s).

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Rejection Reverse – Down (ORR)
  • The Day type was a Normal Variation Day – Down (‘b’ profile)
  • Largest volume was traded at 32110 F
  • Vwap of the session was at 32070 with volumes of 40.9 L and range of 592 points as it made a High-Low of 32480-31888
  • The settlement day Roll Over point (Jan) is 31389
  • The VWAP & POC of Dec Series is 30270 & 30766 respectively.
  • The VWAP & POC of Nov Series is 28104 & 29565 respectively.
  • The VWAP & POC of Oct Series is 23740 & 24468 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 31979-32110-32160

HVNs – 31410 / 31900 / 32149*

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