Market Profile Analysis dated 11th Mar

Nifty Mar F:

NF opened around the prominent POC of the 3-day balance in NF & as expected moved away from it in the form of a Drive Up as the auction not only scaled above PDH but also went past the previous week high of 11129 in the first 15 minutes. NF continued to probe higher tagging the 1 ATR level of 11147 from the FA of 11033 as it made a high of 11154 in the ‘A’ period making a big range of 89 points. The ‘B’ & ‘C’ periods then saw range contraction as NF remained in a narrow range of 15 points though it made marginally higher highs. (Click here to view the profile chart for better understanding) The auction then extended the range higher in the ‘D’ & ‘E’ period as it went on to make a high of 11180 continuing the OTF (one time frame) up since open after which NF again stayed in a narrower range of just 10 points in the ‘F’ & ‘G’ period indicating that any supply that was coming in was being absorbed as NF made similar lows of 11168 in both. The ‘H’ period then gave another range extension to the upside as NF made new high of 11189 and the ‘I’ period followed higher as NF tagged 11199. The auction then gave the customary afternoon pull back as the ‘J’ period stopped the OTF and for the first time in the day NF made a lower low on 30 minutes. NF looked like continuing the move down in the ‘K’ period to test VWAP but again got stalled at the poor lows of 11168 from where it reversed the auction again to the upside. NF then trended higher into the close resuming the Trend Day and went on to make new highs of 11213.

Nf Compo1 5 Market Profile Analysis Dated 11Th Mar Banknifty Futures, Charts, Day Trading, Intraday Trading, Intraday Trading Strategies, Market Profile, Market Profile Trading Strategies, Nifty Futures, Order Flow Analysis, Support And Resistance, Technical Analysis, Trading Strategies, Volume Profile Trading

  • The NF Open was a Open Drive (Up)
  • The day type was a Trend Day – Up
  • Largest volume was traded at 11170 F
  • Vwap of the session was at 11165 with volumes of 85.4 L in a session which traded a High-Low range of 11213-11065 for a range of 148 points
  • NF re-confirmed the FA at 11033 on 08/03 and tagged the 2 ATR move of 11147. This FA is currently on ‘T+2’ days
  • The Trend Day VWAP & POC of 11/03 at 11165 & 11170 will now be the immediate support levels for the series.
  • The Trend Day VWAP & POC of 05/03 at 10946 & 10934 will be important levels for the series.
  • The VWAP & POC of Feb Series is 10830 & 10856 respectively.
  • The VWAP & POC of Jan Series is 10795 & 10823 respectively.
  • The VWAP & POC of Dec Series is 10796 & 10741 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 11156-11170-11211

Hypos / Estimates for the next session:

a) Staying above 11215 at open, NF can continue the imbalance & move higher to 11237-247 and 11280-290
b) NF has immediate support at 11199 below which it can probe lower to 11170-65 & 11145
c) Sustaining above 11290, the auction can move higher to 11312 & 11341-350
d) Below 11145, NF can fall to 11129 and 11109
e) Above 11350, the auction can move to the swing high of 11385 & vPOC of 11403
f) Below 11109, NF can move lower to test levels of 11094 & 11079-76


BankNifty Mar F:

Bnf Compo1 5 Market Profile Analysis Dated 11Th Mar Banknifty Futures, Charts, Day Trading, Intraday Trading, Intraday Trading Strategies, Market Profile, Market Profile Trading Strategies, Nifty Futures, Order Flow Analysis, Support And Resistance, Technical Analysis, Trading Strategies, Volume Profile Trading

BNF gave a freak OH in the opening tick at 28018 but auction wise, it gave a Drive Up from the yPOC of 27880 and got above PDH & previous week’s high of 27920 indicating that the initiative buyers have entered and BNF went on to tag the spike high of 28080 (which was not touched from 3rd Sep 2018) in the ‘A’ period itself. It continued to probe higher in the ‘B’ period as it made a high of 28119 giving a large IB of 228 points which was almost double of the average range. (Click here to view the profile chart for better understanding) The big IB meant that BNF may find it difficult to further extend the range and could form a balance. The ‘C’ period then made a narrow range inside bar of just 22 points after which BNF attempted to move higher in the ‘D’ period as it made an high of 28133 almost tagging the extension handle of 3rd Sep 2018 but this probe above the IBH did not get any new demand and BNF was pushed back into the IB. The next 3 periods ‘E’, ‘F’ & ‘G’ went back to making a balance in a narrow range between VWAP & IBH and in the ‘H’ period the auction made an attempt to break below VWAP which was met with rejection after which the probe turned to the upside as ‘H’ went on to make an outside bar. The ‘I’ period continued the probe higher as BNF attempted a break above IBH for the second time in the day & even made new highs at 28146 but again found no new demand coming in. This second failure to make a succesful range extension led to a liquidation break as BNF broke below VWAP in the ‘J’ period and entered the morning singles of 28054-27891 to make a low of 28041. The ‘K’ period began by making a lower low at 28035 but then saw demand coming back as the auction reversed and made a rotation back to IBH in the ‘L’ period before closing at the prominent POC of 28080 which had all the TPOs of the day. BNF has made a ‘p’ profile & has given a normal day so could give a move depending on how it reacts from 28080.

  • The BNF Open was a Open Drive (Up)
  • The day type was a Normal Day (‘p’ profile)
  • Largest volume was traded at 28080 F
  • Vwap of the session was at 28078 with volumes at 16 L in a session which traded a High-Low range of 28146-27891 for a range of 255 points
  • The Trend Day VWAP of 05/03 of 27380 will be important level for the series.
  • The VWAP & POC of Feb Series 27042 & 26978 respectively
  • The VWAP & POC of Jan Series 27236 & 27514 respectively
  • The VWAP & POC of Dec Series 26713 & 26832 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 28058-28080-28116

Hypos / Estimates for the next session:

a) BNF sustaining below 28080 at open could bring test of lower levels 28035-23 & 27970
b) BNF has immediate resistance at 28115-135 sustaining above which can bring 28180 & 28225
c) Staying below 27970, the auction could probe lower to 27920 & 27880
d) Above 28225, BNF can move higher to 28300 and 28399-401
e) If the vPOC of 27880 is broken & sustained then BNF can test 27830 & 27760-745
f) On the upside, BNF above 28401 can probe to tag that FA of 28478 and the all time high of 28490

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