Market Profile Analysis dated 13th January 2021

Nifty Jan F:  14606 [ 14660 / 14476 ]

NF opened higher but settled down into an OAOR (Open Auction Out of Range) staying in yet another narrow IB range of just 41 points in which it formed similar highs at 14660 in both ‘A’ & ‘B’ periods clearly indicating exhaustion at these new levels. The auction then made a C side extension lower which got rejected and gave a typical bounce to the day’s VWAP but could not sustain above the VWAP which meant there was no fresh demand coming in and this empowered the sellers to strike as they made a fresh RE to the downside in the ‘E’ period where it almost completed the 2 IB objective of 14578 and made new lows of 14562 in the ‘F’ period and took support at previous day’s PBL of 14573 as it left a small tail at lows. NF then gave another retracement to the combo of day’s VWAP & the IBL but once again got rejected as it left a PBH at 14623 in the ‘H’ period and this led to a big liquidation move till the ‘J’ period as it swiped through the low volume zone of 14573 to 14499 and made a low of 14476. This fall was emotional in the sense it was caused more by stuck longs getting out rather than aggressive supply and this led to the auction playing out the 45 Degree Rule into the close as it left a long buying tail from 14476 to 14521 and went on to scale above VWAP for the first time in the day as it hit 14626 before settling down to close near the overlapping POC of the last 2 days leaving a 2-day Gaussian profile with Value at 14542-14598-14657.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Normal Variation Day – Down (NV)
  • Largest volume was traded at 14592 F
  • Vwap of the session was at 14590 with volumes of 127.7 L and range of 184 points as it made a High-Low of 14660-14476
  • NF confirmed a FA at 14077 on 05/01 and tagged the 2 ATR objective of 14413 on 11/01. This FA has not been tagged and is now positional support.
  • NF confirmed a FA at 14401 on 11/01 and tagged the 1 ATR objective of 14574 on 12/01. This 2 ATR target comes to 14748.
  • The settlement day Roll Over point (Jan) is 14007
  • The VWAP & POC of Dec Series is 13528 & 13528 respectively.
  • The VWAP & POC of Nov Series is 12554 & 12862 respectively.
  • The VWAP & POC of Oct Series is 11793 & 11897 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 14570-14592-14645

HVNs – 13970 / 14040 / 14120 / 14220*


BankNifty Jan F:  32685 [ 32758 / 32252 ]

BNF continued the imbalance of previous day opening higher and giving a drive up in the A period as it made a high of 32758 and left a long buying tail in the IB from 32676 to 32464 but the break of VWAP in the C period brought in new lows for the day as the auction made multiple REs in the ‘E’ & ‘F’ periods where it made a low of 32377 taking support just above previous day’s PBL of 32360. This led to a retracement to the day’s VWAP where BNF got rejected leaving a PBH at 32644 in the ‘H’ period and this triggered a fresh fall as it made a new RE in the ‘J’ period entering the low volume zone of 32360 to 32046 but took support right at the extension handle of 32250 indicating return of demand and this paved way for a big short covering move into the close as the auction left singles at lows from 32252 to 32377 and not only scaled above VWAP but went on to almost tag the morning highs as it hit 32743 before closing the day at 32685. Value for the day was mostly higher as BNF formed a balanced profile with a close above VAH so the PLR remains to the upside for the coming session.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Normal Variation Day – Down (NV)
  • Largest volume was traded at 32550 F
  • Vwap of the session was at 32560 with volumes of 57.7 L and range of 506 points as it made a High-Low of 32758-32252
  • The settlement day Roll Over point (Jan) is 31389
  • The VWAP & POC of Dec Series is 30270 & 30766 respectively.
  • The VWAP & POC of Nov Series is 28104 & 29565 respectively.
  • The VWAP & POC of Oct Series is 23740 & 24468 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 32521-32550-32670

HVNs – 31410 / 31900 / 32149*

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://www.explara.com/e/vtrendertradingroomlive