Market Profile Analysis dated 12th September

Market Profile Analysis dated 12th September 1

Nifty Sep F:  10996 [ 11099 / 10982 ]

NF opened a bit higher with an OL (Open=Low) start at 11077 and tagged the vPOC of 11091 making a high of 11098 in the ‘A’ period but stayed in the narrow range of 21 points after which it made a marginal new high of 11099 in ‘B’ but could not extend further leaving a narrow range of just 22 points in the IB (Initial Balance) and this after the previous day was the narrowest one in last 2.5 months in terms of range meant that there could be a multiple IB day coming and as the auction seemed exhausted to the upside, the PLR would be down. (Click here to view the profile chart for September NF for better understanding) NF then made a RE (Range Extension) to the downside in the ‘C’ period breaking the OL of 11077 and continued the OTF (One Time Frame) move lower for the next 2 periods as it made a low of 11031 in the ‘E’ period completing the 3 IB move down with more than half the day left which led to a pull back as the auction probed towards VWAP but made similar highs of 11069 in the G & H periods before resuming the downside probe as it trended lower into the close breaking below the vPOC of 11025 in the ‘J’ period and went on to make lows of 10982 leaving a Trend Day down and an outside bar on daily and looks set to test the lower vPOC of 10886 in the coming session(s) with 11050 being the reference on the upside in case of any bounce.

Market Profile Analysis dated 12th September 2

  • The NF Open was an Open Auction (OA)
  • The day type was a Trend Day (Down)
  • Largest volume was traded at 10998 F
  • Vwap of the session was at 11046 with volumes of 110.4 L and range of 117 points as it made a High-Low of 11099-10982
  • NF confirmed a FA at 10960 on 05/09 which was negated on 06/09 as NF closed above it. This FA got revisited again on 09/09 but closed above yet again so the 1 ATR move of 11124 is still open till 10960 is held.
  • NF confirmed a FA at 10785 on 04/09 & tagged the 1 ATR objective of 10958. The 2 ATR move up comes to 11131. This FA has not been tagged and is now positional support.
  • NF confirmed a FA at 11079 on 29/08 & tagged the 1 ATR objective of 10906 on 30/08. This FA got tagged on 11/09 at ‘T+7’ Days but was unable to close above it.
  • The Trend Day POC & VWAP of 26/08 at 10886 10951 would be important references on the downside.
  • The Trend Day POC & VWAP of 19/07 at 11478 11523 are now positional references on the upside.
  • The higher Trend Day VWAP of 05/07 at 11965 is another important reference higher.
  • The settlement day Roll Over point is 11010
  • The VWAP & POC of Aug Series is 10966 & 10984 respectively.
  • The VWAP & POC of Jul Series is 11575 & 11547 respectively.
  • The VWAP & POC of Jun Series is 11833 & 11714 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 10989-10998-11065

Hypos / Estimates for the next session:

a) NF has immediate supply at 11016-26, sustaining above which it can probe higher to 11046-50 & 11064-78
b) Initial support is at 10985 below which the auction can test 10967-946 & 10926
c) Above 11078, NF can probe higher to 11092-105 & 11129-131
d) Below 10926, auction becomes weak for 10900 & 10881-870
e) If 11131 is taken out, the auction can rise to 11157 / 11175-180 & 11195-200
f) Break of 10870 can trigger a move lower to 10854-845 & 10822-818


BankNifty Sep F: 27824 [ 28095 / 27770 ]

Market Profile Analysis dated 12th September 3

BNF opened above the yPOC of 27820 with a OL start at 27855 and drove higher scaling above PDH (Previous Day High) though on lower volumes as it made highs if 28095 in the ‘B’ period. The auction however could not extend the range to the upside & stayed inside the IB (Initial Balance) and went on to test the lows of the day as it made an attempt to break below IBL but got rejected just above the yPOC as it made a low 27828 & this rejection led to a probe higher as BNF got above VWAP and went on to tag 28056 in the H period but was not able to get above the C period highs. The auction then turned lower breaking below VWAP making a nice bell curve for the day before giving a spike down at close as it made new lows of 27770. Value was higher for the day but the close was below the VAL so unless BNF gets back above it tomorrow, the PLR would be down in the coming session(s)

(Click here to view the profile chart for September BNF for better understanding)

  • The BNF Open was an Open Drive – Up (OD) on low volumes
  • The day type was a Normal Day (with a spike close)
  • Largest volume was traded at 27990 F
  • Vwap of the session was also at 27968 with volumes of 34.9 L in a session which traded in a range of 324 points making a High-Low of 28095-27770
  • The Trend Day VWAP of 19/07 at 30085 is now positional supply point.
  • The higher Trend Day VWAP of 18/07 & 08/07 at 30598 & 30995 remain important references going forward
  • The settlement day Roll Over point is 27450
  • The VWAP & POC of August Series 27858 & 27960 respectively
  • The VWAP & POC of Jul Series is 30425 & 30586 respectively.
  • The VWAP & POC of Jun Series is 30914 & 30961 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 27906-27990-28048

Hypos / Estimates for the next session:

a) Staying above 27820, BNF can probe higher to 27880-920 & 27960-990
b) Immediate support is at 27800-780 below which the auction could test 27735 / 27685-645 & 27576-551
c) Above 27990, BNF can probe higher to 28048-64 / 28120 & 28176-183
d) Below 27551, lower levels of 27472-448 & 27398-350 could come into play
e) Sustaining above 28183, BNF can give a fresh move up to 28237 / 28280-291 & 28346-365
f) Break of 27350 could trigger a move down 27300-295 / 27240 & 27184

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