Market Profile Analysis dated 12th Nov

Nifty Nov F:

NF made a open drive though on low volumes & went above previous week high in the opening 30 mins but as a low volume drive cannot be trusted, the next period could not sustain above Friday highs & then broke vwap getting back into previous week’s Value (10629 was the wVAH) which was the trigger to go short for the weekly POC of 10587 & then the VAL of 10545 as previous week was a nice balance so the 80% rule had good chance of coming good. NF initially found support at 10587 & gave a pull back high at 10617 (which was the Friday’s POC) & then resumed its move down this time breaking the morning lows & leaving an extension handle at 10582 to complete the 2IB extension down making a small balance lower before closing in a spike down of 10515-10490. We have a ledge formation at 10600 levels which act as resistance in case of a bounce & to the downside we have that vPOC of 10410 which could be calling.

Nf Compo1 9 Market Profile Analysis Dated 12Th Nov 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 an Open Drive (on low volumes) which failed
  • The day type was a Double Distribution Trend Day (Down)
  • Largest volume was traded at 10548 F
  • Vwap of the session was at 10578 with volumes of 104.1 L in a session which traded a High-Low range of 10664-10490 for 174 points 
  • The pull back high of 12/11 at 10617 is the resistance now for NOV
  • The vwap of 29/10 at 10175 is strong support now which was broken intraday but re-captured
  • We had a FA at 10111 on 31/10 which has done its 2ATR objective & is now strong support
  • The VWAP & POC of 31/10 10250 & 10248 will be important levels going forward

For the weekly and other swing levels of the Nifty go to – https://vtrender.in/monthly-and-weekly-charts-analysis(has monthly and weekly Profile charts updated to trade date 09/11)

Daily Zones:

    • Value zones (volume profile) are at 10491-10548-10597

Hypos / Estimates for the next session:

 

a) supply seen at 10638 again today

b) 10574 zone alos has heavy sellers

c)Demand came back near the close at 10503 but 10550 mabe difficult to cross

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BankNifty Nov F:

Bnf Compo1 6 Market Profile Analysis Dated 12Th Nov 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 also opened as a Drive Up again on low volumes in continuation to the small spike it had on Friday & got past the FA of 25940 making a high of 25980 but could not sustain it at close of the first 30 mins which was a cause for concern. As it turned out, it could not get above 25940 again & once it got back into Friday’s range of 25880 & broke vwap, it was clear that the PLR in BNF for the day is down. It left an extension handle in the very second period of the day at 25848 which held on till close & will act as resistance now along with the pull back high it gave at 25825 in the first half of the day. It balanced in a narrow range for good part of the afternoon forming a ledge 25790 level after which it gave a second extension handle down at 25745 & left singles from 24745-25706 to form another small distribution lower & gave a pull back high at 25694 before it closed with a spike lower at 25610-25567.

  • The BNF Open was an Open Drive (on low volumes) which failed
  • The day type was a Double Distribution Trend Day (Down)
  • Largest volume was traded at 25630 F
  • Vwap of the session was at 25755 with volumes of 29.3 L in a session which traded a High-Low range of 25980-25567 for 412 points
  • BNF had left a FA on 6/11 at 25940 which was taken out today but it failed to sustain above it and the 1ATR down from there comes to 25491
  • BNF has stayed above the vwap of 17/10 which was 25500 and is now support
  • We had a FA at 24625 on 31/10 which has completed 1ATR of 25102 & has stayed above the 2ATR of 25575
  • another FA we had on 30/10 of 25214 is now support
  • 31st October’s VWAP of 24895 & POC of 24900 will be important levels going forward

For the weekly and other swing levels of the Bank Nifty go to – https://vtrender.in/monthly-and-weekly-charts-analysis/(The BN Monthly and BN weekly F charts are posted at the same link)

Daily Zones:

  • Value zones ( volume profile) are at 25570-25630-25795

Hypos / Estimates for the next session:

 

a) supply again seen at 25900-25940 today

b) immediate support at 25488 now

c)Broad 2 way balance in the multi day Time Frame

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://in.explara.com/e/vtrender–trading–room/checkout