Market Profile Analysis dated 11th June 2020

Nifty Jun F:  9894 [ 10099 / 9879 ]

HVNs – 9093 / 9275 / 9433 / 9785 / 9868 / 10020 / 10094 / 10140 / 10260

NF moved from balance to imbalance as for the first time in 7 days, it failed to tag 10100 as it made a high of 10099 in the IB and left an extension handle at 10040 to move away from the 6-day composite Value with a Trend Day Down as it made lows of 9876. The Pull Back High of 10032 & today’s VWAP of 9977 would be the important references going forward as the auction seems to have started a new leg to the downside.

(Check the MPLite chart of how NF moved away from the the 6-day composite)

  • The NF Open was a Open Auction In Range  (OAIR)
  • The day type was a Trend Day – Down
  • Largest volume was traded at 9896 F
  • Vwap of the session was at 9977 with volumes of 176.8 L and range of 223 points as it made a High-Low of 10099-9876
  • The Trend Day VWAP of 9165 would be important support level.
  • The settlement day Roll Over point (Jun) is 9426
  • The VWAP & POC of May Series is 9183 & 9109 respectively.
  • The VWAP & POC of Apr Series is 8999 & 9010 respectively.
  • The VWAP & POC of Mar Series is 9146 & 8592 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 9877-9896-10024

Main Hypos for the next session:

a) NF needs to sustain above 9916 for a rise to 9944-70 / *9997* / 10024-32 & 10080-110*
b) The auction has immediate support at 9868* below which it could test 9820 / 9785-65 / 9715-9690 & 9656-40

Extended Hypos on downside:
c) Below 9640, the auction can fall further to 9594 / 9555-10 / 9494-80 & 9455-41
d) If 9441 is taken out, NF could start a probe to 9400-9395 / 9369-9336 / 9310-9292 & 9275-42


BankNifty Jun F:  20509 [ 21239 / 20443 ]

HVNs – 17800 / 19000 / 19186 / 19980 / 20380 / 20750 / (20940) / 21000 / 21084 / (21400) / (21540)

BNF also gave a Trend Day Down completing the 80% Rule in the 6-day composite and now looks set to move away from this balance on the downside as it closed below the VAL of the 7-day composite.

(The 7-day composite in BNF has Value at 20522-20905-21210 and the MP Lite chart of the same can be viewed here. )

  • The BNF Open was a Open Auction In Range  (OAIR)
  • The day type was a Trend Day – Down
  • Largest volume was traded at 20652 F
  • Vwap of the session was at 20805 with volumes of 81.4 L and range of 797 points as it made a High-Low of 21239-20443
  • BNF confirmed a FA at 20388 on 05/06 and completed the 1 ATR objective of 21148 on same day. The 2 ATR target from this FA comes to 21907.
  • The Trend Day VWAP of 18138 would be important support level.
  • The settlement day Roll Over point (Jun) is 19035
  • The VWAP & POC of May Series is 18767 & 19633 respectively.
  • The VWAP & POC of Apr Series is 19605 & 19710 respectively.
  • The VWAP & POC of Mar Series is 22104 & 20248 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 20550-20652-21031

Main Hypos for the next session:

a) BNF needs to sustain above 20522-556 for a rise to 20623-652 / 20796-*805* / 20905-952 / 21030-132 / 21210-300
b) The auction has immediate support at 20460 below which it could test 20380-301* / 20180-088 / 20022-19960 / 19877-820 & 19764-650

Extended Hypos:
c) If 19650 is taken out, BNF could start a probe to 19575 / 19500-450 / 19349-295 / 19186-085 & 19015-18980
d) Below 18980 could trigger a fall to 18935-870 / 18812-720 / 18684-625 / 18535-450 / 18330-250 & 18198-*138*

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