Market Profile Analysis dated 12th June 2020

Nifty Jun F:  9955 [ 9982 / 9582 ]

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

NF opened with an unexpected huge gap down open of 295 points but gave a drive on the upside with the highest volumes for the series in the first 15 minutes as it left a long buying tail in the IB from 9650 to 9582 and made multiple REs on the upside and in the process left a PBL (Pull Back Low) at 9695 and an important extension handle at 9818 as it not only closed the gap tagging the yPOC of 9896 but went on to complete the 3 IB objective and ended up almost tagging the trend day VWAP of 9997 while making highs of 9982 to leave a Trend Day Up though Value for the day was once again lower.

(Check the MPLite chart of how NF trended higher after the big gap down)

  • The NF Open was a Open Auction Out of Range plus Drive Up  (OAOR + D)
  • The day type was a Trend Day – Up
  • Largest volume was traded at 9662 F
  • Vwap of the session was at 9776 with volumes of 244.2 L and range of 400 points as it made a High-Low of 9982-9582
  • The 11th June Trend Day VWAP of 9997 would be important supply point.
  • The 27th May & 12th June Trend Day VWAPs of 9776 & 9165 would be important support levels.
  • 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 9621-9662-9839

Main Hypos for the next session:

a) NF needs to sustain above 9964 for a rise to *9997* / 10024-32 / 10080-110* / 10144 & 10188
b) The auction below 9933 can test lower levels of 9896 / 9856-40 / *9776* & 9740

Extended Hypos:
c) Above 10188, NF can probe higher to 10220-256 / 10295-320 & 10345-375
d) If 9740 is taken out, NF could start a probe to 9712 / 9659-21 & 9599-55


BankNifty Jun F:  20624 [ 20728 / 19555 ]

HVNs – 17800 / 19000 / 19186 / 19980 / 20380 / 20750 / 20904 / 21000 / 21084 / (21400) / (21540)

BNF also opened with a huge gap down of 954 points but made an OL (Open=Low) start at 19555 and like in NF, saw the highest volumes in the first 15 minutes of the series which meant that the demand was coming back in previous week’s buying tail as it left a fresh buying tail from 19727 to 19555 in the IB and continued to probe higher giving a spike to 20400 in the ‘E’ period which was swiftly rejected as the auction retraced by 580 points to leave a PBL of 19821 in the ‘G’ period from where it started a fresh OTF move into the close as it got back in previous day’s range and tagged the VAL of the 2-day balance as it made a high of 20728 but stalled there before closing the day at 20624 with completely lower Value.

(The 2-day composite in BNF has Value at 20685-20899-21024 and would be the immediate reference on the upside in the coming session. )

  • The BNF Open was a Open Auction Out of Range plus Drive Up  (OAOR + D)
  • The day type was a Trend Day – Up
  • Largest volume was traded at 19820 F
  • Vwap of the session was at 20115 with volumes of 105.1 L and range of 1173 points as it made a High-Low of 20728-19555
  • BNF confirmed a FA at 20388 on 05/06 and completed the 1 ATR objective of 21148 on same day. This FA was revisted in ‘T+5’ Days and is no longer a valid reference
  • The Trend Day VWAP of 18138 would be important support level.
  • The 11th June Trend Day VWAP of 20795 would be important supply point.
  • The 27th May & 12th June Trend Day VWAPs of 18138 & 20115 would be important support levels.
  • 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 19711-19820-20306

Main Hypos for the next session:

a) BNF has immediate supply in zone of 20640-685 above which it can rise to *20795* / 20878-904* / 21024 / 21120-132 & 21210
b) Staying below 20640, the auction could test 20520 / 20448-364 / 20268 / *20115* & 20052

Extended Hypos:
c) If 21210 is taken out, BNF could start a fresh probe to 21276-300 / 21420*-528 / 21648-695 / 21785 & 21888
d) Sustaining below 20052, there could be a fall to 19950 / 19896-821 / 19764-700 / 19555 & 19450-344

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