Market Profile Analysis dated 12th January 2021

Nifty Jan F:  14598 [ 14624 / 14454 ]

NF made an OAIR (Open Auction In Range) start and took support at the prominent POC of 14460 as it remained in the upper part of previous day’s profile leaving a narrow IB range of just 45 points stalling right at PDH after which it made a quiet C period building up volumes at 14480. The auction then made a RE (Range Extension) to the upside in the ‘D’ period which triggered a trending move higher for the rest of the day as it not only completed the 1 ATR objective of 14574 from the FA of 14401 but went on to make a high of 14624 in the ‘L’ period as the dPOC also shifted higher to 14600 zone where it closed leaving a Double Distribution Trend Day Up. Today’s profile has a low volume zone between 14573 to the extension handle of 14499 which would be the reference below 14600 for the next session along with today’s VWAP of 14544 and on the upside, getting accepted above 14618 could give a probe higher towards 14684 & 14748 in the coming session(s).

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction In Range (OAIR)
  • The Day type was a Double Distribution Trend Day – Up (DD)
  • Largest volume was traded at 14600 F
  • Vwap of the session was at 14544 with volumes of 88.1 L and range of 170 points as it made a High-Low of 14624-14454
  • 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+6’ Days.
  • NF confirmed a FA at 14401 on 11/01 and tagged the 1 ATR objective of 14574 on 12/01. This 2 ATR target comes to 14748.
  • 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 14502-14600-14624

HVNs – 13970 / 14040 / 14120 / 14220*


BankNifty Jan F:  32455 [ 32509 / 31810 ]

BNF opened with a gap down of almost 250 points & made a low of 31810 but got back into previous day’s range confirming an ORR (Open Rejection Reverse) to the upside as it left a buying tail in the IB from 31902 to 31810 indicating that the return of demand. The auction then made couple of small REs on the upside in the ‘D’ & ‘E’ periods as it stalled just below the 3-day composite Value of 32080 followed by a big move in the ‘F’ period as it left an extension handle at 32046 & completed the 80% Rule in the composite Value and continued this imbalance in the ‘G’ period where it made high of 32425. BNF completed the 3 IB objective for the day in the ‘H’ period and this also marked the start of a mini balance as the ‘J’ period left a PBL at 32360 and went on to make new highs for the series at 32509 in the ‘L’ period before closing the day around the dPOC of 32455. The day’s profile resembles a DD with a low volume zone between 32360 to 32046 which would be the reference for the next session on the downside.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Rejection Reverse – Up (ORR)
  • The Day type was a Double Distribution Trend Day – Up (DD)
  • Largest volume was traded at 32435 F
  • Vwap of the session was at 32220 with volumes of 43.2 L and range of 699 points as it made a High-Low of 32509-31810
  • 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 32052-32435-32500

HVNs – 31410 / 31900 / 32149*

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