Market Profile Analysis dated 12th April 2021

Nifty Apr F:  14343 [ 14690 / 14282 ]

NF not only made a big gap down of 200 points but confirmed an Open Drive Down as it fell by another 266 points in the A period breaking below previous week’s lows of 14490 and tagging the RO (Roll Over) point of this series at 14425. This huge fall of 466 points from previous close then led to a bounce to the VWAP in the ‘B’ period but as expected the sellers were back making a swift rejection from 14531 and went on to make new lows for the day at 14402 in the infamous ‘C’ period which is known to trap the laggards and this led to the second bounce of the day in the ‘D’ period as NF left a PBH (Pull Back High) at 14485. The main trend of the day resumed from the ‘E’ period onwards as the auction remained below VWAP for the rest of the day and made multiple REs (Range Extension) lower as it made lows of 14282 in the ‘L’ period but saw some short covering into the close as the dPOC also shifted lower to 14359 leaving a ‘b’ shape profile for the day similar to the one it has left last Monday with a eerily similar range of 408 points. NF would continue to remain weak below 14359 whereas on the upside, the immediate PBH of 14391 along with today’s VWAP of 14431 would be the important references to watch.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Drive – Down (OD)
  • The Day type was a Normal Variation Day – Down (‘b’ shape profile)
  • Largest volume was traded at 14359 F
  • Vwap of the session was at 14431 with volumes of 157.1 L and range of 408 points as it made a High-Low of 14690-14282
  • The settlement day Roll Over point (Apr) is 14425
  • The VWAP & POC of Mar Series is 14816 & 14737 respectively.
  • The VWAP & POC of Feb Series is 14893 & 15115 respectively.
  • The VWAP & POC of Jan Series is 14288 & 14569 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 14289-14359-14485

HVNs – 14420 / 14621 / 14826 / 14906* / 14975


BankNifty Apr F:  30869 [ 31900 / 30610 ]

BNF also opened with a huge gap down of 412 points and continued to drive lower in the A period as it tagged 30938 negating the entire bullish profile of the 1st Feb (Budget Day) after which it formed a small balance till the ‘D’ period where it left a PBH at 31311 before starting a fresh leg to the downside as it remained below VWAP all day and went on to make lows of 30610 in the ‘K’ period but just like NF, saw some good short covering into the close as it got back to the dPOC of 30847 leaving a ‘b’ shape profile for the day with completely lower Value.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Drive – Down (OD)
  • The Day type was a Normal Variation Day – Down (‘b’ shape profile)
  • Largest volume was traded at 30847 F
  • Vwap of the session was at 31046 with volumes of 61.9 L and range of 1290 points as it made a High-Low of 31900-30610
  • The settlement day Roll Over point (Apr) is 33250
  • The VWAP & POC of Mar Series is 34618 & 33870 respectively.
  • The VWAP & POC of Feb Series is 35530 & 35820 respectively.
  • The VWAP & POC of Jan Series is 31597 & 32062 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 30642-30847-31194

HVNs – 32615 / 33250 / 33466 */ 34050

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