Market Profile Analysis dated 14th January 2021

Nifty Jan F:  14628 [ 14644 / 14505 ]

NF opened below the 2-day overlapping POC of 14598 and probed lower in the IB (Initial Balance) and seemed to be moving away from the balance but took support in the buying tail of 14521 to 14476 as it made a low of 14504 in the ‘B’ period and left a small tail at lows after which it reversed the probe to the upside for the rest of the day. The auction got back into previous day’s Value and completed the 80% Rule after climbing above the POC of 14598 as it made a high of 14644 before closing the day around the day’s POC of 14626. Both Range & Value formed inside bars and hence we now have a 3-day composite with Value at 14542-14598-14642 and now even the series POC has shifted higher from 14222 to 14594 which could mean that the longs have been booking profits.

Click here to view the 3-day composite in NF on MPLite

  • The NF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Variation Day – Up (Inside Day)
  • Largest volume was traded at 14626 F
  • Vwap of the session was at 14589 with volumes of 81.7 L and range of 139 points as it made a High-Low of 14644-14505
  • 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 14566-14626-14641

HVNs – 13970 / 14040 / 14120 / 14220 / 14594*


BankNifty Jan F:  32648 [ 32861 / 32562 ]

BNF made a freak high of 32861 in the opening minutes but could not sustain above PDH (Previous Day High) as it remained in a narrow range of just 200 points post IB taking support just above the yPOC of 32550 & on the upside getting rejected multiple times in an attempt to break above PDH as it left couple of PBHs (Pull Back High) at 32776 & 32774 in the ‘E’ & ‘G’ periods leaving a ‘b’ shape profile for the day with a tail at top from 32776 to 32861 and a prominent POC at 32700. Volumes for the day was lacklustre with overlapping to higher Value which means that the 2-day composite gives a nice 3-1-3 profile with Value at 32546-32693-32744 & BNF needs a breakaway on either side of this Value on initiative volumes for a fresh probe with the lower reference being the buying tail from 32377 to 32251.

Click here to view the 2-day 3-1-3 profile in BNF on MPLite

  • The BNF Open was a Open Auction (OA)
  • The Day type was a Normal Day (‘b’ shape profile)
  • Largest volume was traded at 32700 F
  • Vwap of the session was at 32691 with volumes of 33.4 L and range of 299 points as it made a High-Low of 32861-32562
  • 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 32620-32700-32739

HVNs – 31410 / 31900 / 32149* / 32686

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