Market Profile Analysis dated 13th December

Nifty Dec F: 12142 [ 12152/ 12055 ]

HVNs – 11900-910 / (11940) / 11990 / 12024 / (12080-100) / 12135 / 12192

NF gave another gap up open and and took support right at the PDH (Previous Day High) as it left a buying tail from 12075 to 12029 in the IB (Initial Balance) to give a slow Trend Day Up as it almost tagged the RO (Roll Over) point of 12153 with a close around the highs. The dPOC of 12130 would be the immediate reference on the downside below which we have 2 PBLs (Pull Back Low) of 12121 & 12090 which would be the important references along with today’s VWAP of 12114 for the remaining sessions of this series.

  • The NF Open was an Open Rejection Reverse – Up (ORR)
  • The day type was a slow Trend Day – Up (TD)
  • Largest volume was traded at 12130 F
  • Vwap of the session was at 12114 with volumes of 81.2 L and range of 97 points as it made a High-Low of 12152-12055
  • NF confirmed a FA at 12116 on 05/12 and tagged the 2 ATR objective of 11924 on 09/12. This FA was tagged today (13/12) exactly on ‘T+6’ Days
  • The Trend Day VWAP of 13/12 at 12114 will be immediate reference on the downside.
  • The Trend Day VWAP of 29/10 at 11848 will be important reference on the downside.
  • The settlement day Roll Over point (Dec) is 12153
  • The VWAP & POC of Nov Series is 11954 & 11910 respectively.
  • The VWAP & POC of Oct Series is 11461 & 11365 respectively.
  • The VWAP & POC of Sep Series is 11127 & 10960 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 12100-12130-12149

Hypos / Estimates for the next session:

a) NF sustaining above 12136-142 could move higher to 12166 & 12186*-192
b) Acceptance below 12130 could bring a test of 12110 & 12090
c) Above 12192, NF can probe higher to 12215-224 & 12245
d) Below 12090, auction becomes weak for 12075-70 & 12054
e) If 12245 is taken out, the auction go up to to 12281 & 12310
f) Break of 12054 can trigger a move lower to 12024-18 & 11994*-990


BankNifty Dec F: 32103 [ 32230 / 31805]

HVNs – 31370-400 / 31470 / 31715 / 31855 / 31925 / (32001) / 32100

BNF also gave a gap up opening and similar to NF, gave a trending profile for the day but looked more like a Double Distribution Trend Day with a buying tail at lows from 31911 to 31717 and an extension handle at 32045 separating the 2 distributions of the day. BNF not only tagged the RO point of 32160 but went on to make new all time highs of 32230 but was swiftly rejected as it left a small selling tail from 32195 to 32230. The dPOC of 32100 could act as immediate support below which the combo of 32057 (Trend Day VWAP) & 32045 (extension handle) would be the important reference apart from the PBL of 31966.

  • The BNF Open was an Open Auction Out of Range plus a Drive Up (OAOR)
  • The day type was a slow Double Distribution Trend Day – Up (DD) 
  • Largest volume was traded at 32100 F
  • Vwap of the session was at 32057 with volumes of 29.6 L and range of 425 points as it made a High-Low of 32230-31805
  • BNF confirmed a FA at 32173 on 05/12 and tagged the 2 ATR target of 31501 on 06/12. This FA was tagged today (13/12) exactly on ‘T+6’ Days
  • The Trend Day VWAP of 13/12 at 32057 will be immediate reference on the downside.
  • The Trend Day VWAP of 06/11 at 30587 will be important reference on the downside.
  • The settlement day Roll Over point (Dec) is 32160
  • The VWAP of Nov Series is 30699.
  • The VWAP & POC of Oct Series is 28784 & 28415 respectively.
  • The VWAP & POC of Sep Series is 28416 & 27160 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 31980-32100-32149

Hypos / Estimates for the next session:

a) BNF needs to stay above 32100 for a rise to 32168-175 / 32230-275 & 32326
b) Sustaining below 32100, the auction could test 32057-45 / 31980-960 & 31911
c) Above 32326, BNF can probe higher to 32376 / 32450-465 & 32510
d) Below 31911, lower levels of 31855-805 & 31745-715 could be tagged
e) If 32510 is taken out, BNF can give a fresh move up to 32573-577 / 32628 & 32682-725
f) Below 31715, we could see lower levels of 31645-590 / 31545-525 & 31470

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