Market Profile Analysis dated 14th August 2020

Nifty Aug F:  11187 [ 11397 / 11111 ]

HVNs – 10918 / 10970 / 11095 / 11196 / 11310

NF opened well above the composite POC of 11310 but made a high exactly at the FA of 11366 in the IB leaving one of the narrowest IB range of just 36 points as it seemed both the buyers & sellers wanted to test each other. The auction then made a C side extension as it hit 11320 but got rejected as that composite POC was still being defended and this led to a rare spike in the middle of the day resulting in new highs for the week at 11397 but could not sustain above IBH for more than 30 minutes which was an indication that these new highs were being used to sell aggressively which got more obvious when the VWAP was taken out in the ‘J’ period after which NF left an extension handle at 11320 breaking below the composite POC with initiative activity triggering a fall of more than 200 points in the next 3 periods as it left a second extension handle near previous week’s VAH and went on to make lows of 11111 before closing the day at 11187 as it left a small buying tail from 11150 at the lows.

Click here to view the latest profile chart of NF in MP Lite

  • The NF Open was a Open Auction In Range (OAIR)
  • The Day type was a Neutral Extreme Day – Down (NeuX)
  • Largest volume was traded at 11343 F
  • Vwap of the session was at 11263 with volumes of 148 L and range of 287 points as it made a High-Low of 11397-11111
  • NF confirmed a FA at 11397 on 14/08 and completed the 2 ATR objective of 11111 on the same day.
  • The settlement day Roll Over point (Aug) is 11095
  • The VWAP & POC of Jul Series is 10897 & 10803 respectively.
  • The VWAP & POC of Jun Series is 10110 & 10110 respectively.
  • The VWAP & POC of May Series is 9183 & 9109 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 11190-11343-11390

Main Hypos for 17.08.2020:

a) NF needs to sustain above 11193 for a rise to 11220-231 / 11258-288 & 11310-343
b) The auction staying below 11175 could fall to 11148-125 / 11094-075 & 11040-027

Extended Hypos:
c) Above 11343, NF can probe higher to 11370-395 / 11427-442 & 11465-484
d) If 11027 is taken out, NF could fall to 11004 / 10982-963 / 10948-918 & 10896-883


BankNifty Aug F:  21669 [ 22318 / 21436 ]

HVNs – 21545 / 21615 / 22188

Click here to view the latest profile chart of BNF in MP Lite

BNF opened higher but got stalled at 22318 right below previous day’s extension handle of 22320 indicating that the sellers were very much active as it continued to form a balance in the lower distribution for the first half of the day which included a C side extension which failed leading to a PBH at 22280 which was another crucial level being the VWAP of the DD Trend Day down. The auction then made a late RE lower in the ‘I’ period as it left couple of extension handles at 22110 & 22000 after which it went on to make new lows for the week getting back into previous week’s Value almost completing the 80% Rule as it made lows of 21436 before closing the day at 21669 leaving a Trend Day Down.

  • The BNF Open was a Open Auction In Range (OAIR)
  • The Day type was a Trend Day – Down (TD)
  • Largest volume was traded at 22200 F
  • Vwap of the session was at 21960 with volumes of 71.2 L and range of 882 points as it made a High-Low of 22318-21436
  • BNF confirmed a multi day FA at 21802 on 11/08 and tagged the 1 ATR objective of 22333 on 06/08. This FA got re-visited in ‘T+4’ Days.
  • The settlement day Roll Over point (Aug) is 21615
  • The VWAP & POC of Jul Series is 22163 & 22087 respectively.
  • The VWAP & POC of Jun Series is 20918 & 21000 respectively.
  • The VWAP & POC of May Series is 18767 & 19633 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 21686-22200-22317

Main Hypos for 17.08.2020:

a) BNF needs to sustain above 21678 for a rise to 21750 / 21820-865 / 21959 / 22010-110 & 22190
b) The auction accepting below 21630 could test 21546 / 21480-400 / 21312-245 & 21183-138

Extended Hypos:

c) Above 22190, BNF can probe higher to 22245-283 / 22320-422 / 22500-550 & 22600-710
d) Breaking below 21138, it could fall to 21085-039 / 20970 / 20904-850 / 20750-690 & 20589

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