Market Profile Analysis dated 11th September 2020

Nifty Sep F:  11467 [ 11487 / 11415 ]

NF opened below previous day’s spike reference of 11444 to 11468 but was rejected as it not only got back into the spike zone but went on to make new highs for the week at 11487 but stalled at the series HVN of 11485. The auction remained in this narrow IB range of just 65 points for most of the day before it made an attempt to break lower in the ‘H’ period as it hit 11415 but was swiftly rejected back into the IB as it ended the day with a nice Gaussian profile and a Normal Day with a prominent POC at 11455 along with a close near the VAH. There is a probable multi-day FA at today’s lows if NF can open and stay above today’s high in the next session which will set up the probe towards the VPOC of 11565.

Click here to view the latest profile chart of NF on MPLite

  • The NF Open was a Open Auction (OA)
  • The Day type was a Normal Day (Gaussian Profile)
  • Largest volume was traded at 11455 F
  • Vwap of the session was at 11451 with volumes of 99.8 L and range of 72 points as it made a High-Low of 11487-11415
  • NF confirmed a FA at 11202 on 02/09 and tagged the 2 ATR objective of 11470 on 11/09. This FA is currently on ‘T+3’ Days.
  • The settlement day Roll Over point (Sep) is 11607
  • The VWAP & POC of Aug Series is 11311 & 11311 respectively.
  • The VWAP & POC of Jul Series is 10897 & 10803 respectively.
  • The VWAP & POC of Jun Series is 10110 & 10110 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 11441-11455-11470

HVNs – 11400 / 11485 / 11555 / 11664

Main Hypos for 14.09.2020:

a) NF needs to sustain above 11485 for a rise to 11510-529 / 11556-565* & 11595-602
b) The auction staying below 11455 could test 11426-401 / 11385-355* & 11324

Extended Hypos:
c) Above 11602, NF can probe higher to 11632-665 / 11696-710 & 11730-745
d) If 11324 is taken out, NF could fall to 11294-270* / 11251-229 & 11202-183


BankNifty Sep F:  22539 [ 22676 / 22226 ]

BNF made a strong start at open as it seemed to move away from the 2-day composite rising by 225 points in the opening 10 minutes but it could not get above PDH and was rejected from 22676 and went on to make new lows of 22376 for the day in the ‘B’ period as it left a selling tail at top indicating sellers back in control. The auction then made a ‘C’ side extension to the downside which lived up to the expectation as it got rejected and gave a move back to VWAP resulting in a PBH sat 22533 in the ‘D’ period as BNF got back below VWAP and continued to probe lower as it made a fresh RE in the ‘H’ period and went on to tag the VPOC of 22250 in the ‘J’ period breaking below PDL but saw good demand coming in as it left a small tail at lows. This rejection then led to a short covering move into the close as the auction not only got above VWAP but went on to scale above the PBH of 22533 while making a high of 22580 before closing the day at 22539. BNF has formed a nice 3-day balance with Value at 22241-22417-22517 and has a good chance of giving a move away from here provided it gets some initiative volumes at open in the next session.

Click here to view the 3-day balance in BNF on MP Lite

  • The BNF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Variation Day – Down (NV)
  • Largest volume was traded at 22430 F
  • Vwap of the session was at 22423 with volumes of 71.3 L and range of 450 points as it made a High-Low of 22676-22226
  • The settlement day Roll Over point (Sep) is 23576
  • The VWAP & POC of Aug Series is 22444 & 21595 respectively.
  • The VWAP & POC of Jul Series is 22163 & 22087 respectively.
  • The VWAP & POC of Jun Series is 20918 & 21000 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 22305-22430-22503

HVNs – 22415 / 22995 / 23688 / 23800 / 24250

Main Hypos for 14.09.2020:

a)BNF needs to sustain above 22575 for a rise to 22625-685 / 22760-854 / 22928-995* & 23075-150*
b) The auction staying below 22517 could test 22444-410 / 22355-245 / 22180-020 & 21984*-923

Extended Hypos:

c) Above 23150, BNF can probe higher to 23230-316 / 23371-440 / 23514-586 & 23630-720
d) Breaking below 21923, it could fall to 21860-744 / 21660-600* / 21540-442 & 21350

For more tradeable ideas and intraday trading strategies based on MarketProfile and the OrderFlow live charts with OrderFlow analysis Live, subscribe to the trading room. The Vtrender Trading Room hosts India’s largest MarketProfile community live every trading session from 9.15 am to 3.30 pm.

If not a Trading Room member you can get immediate access at – https://www.explara.com/e/vtrendertradingroomlive