Market Profile Analysis dated 12th November 2020

Nifty Nov F:  12706 [ 12749 / 12638 ]

NF opened lower for the first time in November and showed clear rejection from previous day’s POC of 12738 as it remained below it all day filling up the low volume zone of prior profile and for the second day running the sellers were able to make a successful RE (Range Extension) to the downside forming a low of 12638 in the ‘I’ period. The auction however remained inside previous Value forming an inside day with a prominent POC at 12700 where it eventually closed and the interesting point is that the series POC has also shifted higher to this zone which indicates that the longs have booked out and the upside for now looks capped. NF has formed a 2-day balance with Value at 12657-12703-12749 and could continue to build on this balance unless we get some initiative volumes at either side of the Value.

Click here to view the latest profile of NF on MPLite

  • The NF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Variation Day – Down (NV)
  • Largest volume was traded at 12700 F
  • Vwap of the session was at 12694 with volumes of 104.1 L and range of 111 points as it made a High-Low of 12749-12638
  • NF confirmed a FA at 11744 on 04/11 and tagged the 2 ATR objective of 12089 on 05/11. This FA has not been tagged and is now positional support.
  • The settlement day Roll Over point (Nov) is 11665
  • The VWAP & POC of Oct Series is 11793 & 11897 respectively.
  • The VWAP & POC of Sep Series is 11353 & 11560 respectively.
  • The VWAP & POC of Aug Series is 11311 & 11311 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 12678-12700-12717

HVNs – 11740 / 11819 / 12703*     (* denotes current series POC)
Hypos for 13.11.2020:

a) NF needs to sustain above 12735 for a rise to 12770 / 12819 / 12856 & 12890
b) The auction staying below 12697 could test 12643 / 12595 / 12565 & 12525


BankNifty Nov F:  28316 [ 28680 / 28085 ]

BNF also opened lower & was rejected from previous day’s VWAP of 28670 at open setting up the day for a downside probe as it left a selling tail in the IB and formed a ‘b’ shape long liquidation profile for the day as it tested the singles of 28090 to 27832 from 10th Nov taking support there for now but with Value forming completely lower for the first time in this series, the upmove looks to be done with for now. Furthermore, the series POC has also shifted higher to 28395 which signifies that the buyers have booked out.

Click here to view the latest profile in BNF on MPLite

  • 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 28400 F
  • Vwap of the session was at 28358 with volumes of 77.4 L and range of 595 points as it made a High-Low of 28680-28085
  • BNF confirmed a FA at 28999 on 11/11 and tagged the 1 ATR objective of 28355 on the same day. The 2 ATR target comes to 27712.
  • The settlement day Roll Over point (Nov) is 24110
  • The VWAP & POC of Oct Series is 23740 & 24468 respectively.
  • The VWAP & POC of Sep Series is 22320 & 22320 respectively.
  • The VWAP & POC of Aug Series is 22444 & 21595 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 28272-28400-28480

HVNs – 24110 / 25455 / 26300 / 28395*     (* denotes current series POC)

Hypos for 13.11.2020:

a) BNF needs to sustain above 28360 for a rise to 28480 / 28655 / 28750 / 28842 / 28974 & 29060
b) The auction staying below 28330 could test 28251 / 28150 / 28080 / 27930 / 27765 & 27590

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