Market Profile Analysis dated 14th December 2020

Nifty Dec F:  13572 [ 13613 / 13490 ]

NF opened higher and not only probed above Friday’s prominent POC of 13575 but even went on to make new highs for the series at 13613 in the opening minutes but lack of fresh demand pushed it back into Friday’s range as it left a small initiative selling tail from 13591 to 13613 in the IB (Initial Balance) and made multiple REs (Range Extension) on the downside over the next 3 periods but took support around yVWAP of 13532 leaving similar lows in the ‘D’ & ‘E’ period. The auction then gave a pull back to 13560 but the failure to even tag the day’s VWAP triggered a swipe lower in the ‘H’ period as NF completed the 2 IB objective while making a low of 13490 but was swiftly rejected as it finally got back to the day’s VWAP leaving singles at lows also from 13526 to 13490 and formed a balance for the rest of the day leaving a perfect 3-1-3 profile with Value completely inside previous day along with an overlapping POC at 13570 which now has the highest concentration of volumes for this series. The 2-day composite has Value at 13520-13570-13598 and would need initiative volumes to confirm the start of a fresh leg away from here in the coming session(s).

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Rejection Reverse – Down (ORR on low volumes)
  • The Day type was a Normal Variation Day – Down (3-1-3 profile)
  • Largest volume was traded at 13570 F
  • Vwap of the session was at 13556 with volumes of 74.4 L and range of 123 points as it made a High-Low of 13613-13490
  • NF confirmed a FA at 13425 on 10/12 and tagged the 1 ATR objective of 13580 on 11/12. This FA got revisited on 11/12 and is no longer a valid reference.
  • The settlement day Roll Over point (Dec) is 12974
  • The VWAP & POC of Nov Series is 12554 & 12862 respectively.
  • The VWAP & POC of Oct Series is 11793 & 11897 respectively.
  • The VWAP & POC of Sep Series is 11353 & 11560 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 13538-13570-13573

HVNs – 13020 / 13084 / 13190 / 13440 / 13570*


BankNifty Dec F:  30788 [ 30890 / 30656 ]

BNF also opened higher and even gave a look up above previous week’s high as it tagged 30890 in the ‘A’ period but similar to NF, it did not attract fresh demand and formed a narrow IB range of just 188 points indicating that there was not much supply also in this zone. The auction remained largely in the IB for most part of the day with a couple of failed RE attempts on the downside as it made a swipe to 30656 in the ‘H’ period forming a perfect Gaussian profile with one of the lowest daily range of just 234 points and closed right at the prominent POC of 30787. BNF is nicely set up for a move away from here provided it is backed up with initiative volumes.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auction (OA)
  • The Day type was a Normal Day (Gaussian Profile)
  • Largest volume was traded at 30787 F
  • Vwap of the session was at 30794 with volumes of 42.5 L and range of 234 points as it made a High-Low of 30890-30656
  • BNF confirmed a FA at 30021 on 07/12 and tagged the 1 ATR objective of 30660 on 09/12. The 2 ATR target comes to 31298.
  • BNF confirmed a FA at 29000 on 26/11 and tagged the 2 ATR objective of 30355 on 07/12. This FA has not been tagged and is now positional support.
  • The settlement day Roll Over point (Dec) is 29629
  • The VWAP & POC of Nov Series is 28104 & 29565 respectively.
  • The VWAP & POC of Oct Series is 23740 & 24468 respectively.
  • The VWAP & POC of Sep Series is 22320 & 22320 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 30760-30787-30843

HVNs – 29650* / 30100 / 30300 / 30770

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