Market Profile Analysis dated 14th September 2020

Nifty Sep F:  11452 [ 11569 / 11395 ]

NF opened higher and stayed well above previous week’s high confirming the multi-day FA at 11415 but formed a very narrow IB range of just 35 points indicating poor trade facilitation. The auction however made a ‘C’ side extension higher completing the 1 ATR objective of 11556 from 11415 and continued the slow probe higher on low volumes as it made new highs of 11569 in the E period but the OTF probe from open stopped in the ‘G’ period which was the first TPO when NF made lower lows and this triggered a big move on the downside as the auction got the much needed volumes and left an extension handle at 11512 and not only closed the gap but went on to break below PDL (Previous Day Low) as it hit 11395 in the ‘K’ period as the fall got emotional. NF then left a tail at lows from 11427 to 11395 and made a swift bounce back to 11484 where it left a PBH in the ‘L’ period before closing the day at 11452.

Click here to view the latest profile chart of NF on MPLite

  • The NF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Neutral Day (NeuD)
  • Largest volume was traded at 11550 F
  • Vwap of the session was at 11499 with volumes of 114 L and range of 174 points as it made a High-Low of 11569-11395
  • NF confirmed a multi-day FA at 11415 on 14/09 and tagged the 1 ATR objective of 11556 on 11/09. This FA got tagged on the same day and is no longer a valid reference.
  • NF confirmed a FA at 11202 on 02/09 and tagged the 2 ATR objective of 11470 on 11/09. This FA is currently on ‘T+4’ Days.
  • The settlement day Roll Over point (Sep) is 11607
  • The VWAP & POC of Aug Series is 11311 & 11311 respectively.
  • The VWAP & POC of Jul Series is 10897 & 10803 respectively.
  • The VWAP & POC of Jun Series is 10110 & 10110 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 11451-11550-11567

HVNs – 11400 / 11448 / 11485 / 11555 / 11664

Main Hypos for 15.09.2020:

a) NF needs to sustain above 11460 for a rise to 11485-505 / 11526-552 & 11580-595
b) The auction staying below 11432 could test 11409-381 / 11355*-324 & 11294

Extended Hypos:
c) Above 11595, NF can probe higher to 11632-665 / 11696-711 & 11730-745
d) If 11294 is taken out, NF could fall to 11270*-251 / 11225-202 & 11183-144


BankNifty Sep F:  22190 [ 22820 / 22105 ]

BNF made a higher open and seemed to move away from the 3-day composite it was forming as it scaled above the swing high of 22725 and went on to tag 22820 in the opening minute but could not find fresh demand resulting in a selling tail in the IB from 22736 to 22820 which meant the sellers were taking control. The auction however remained in a narrow range of just 100 points till the ‘F’ period forming a ‘b’ shape profile for the day after which it made a RE to the downside in the ‘G’ period where it made a new low of 22552 and just when it seemed that it would continue forming a ‘b’ shape profile as it made an inside bar in the ‘H’ period, BNF made an initiative move lower leaving the first extension handle of the day at 22552 in the ‘I’ period as it got back into the Value of the 3-day Gaussian profile triggering the 80% Rule. The auction then left another extension handle at 22357 in the ‘J period as it completed the 80% Rule but continued to trend lower in the ‘K’ period breaking below previous week’s low to hit 22105 from where it gave a bounce back to 22328 in the ‘L’ period leaving a PBH there before giving a weak close at 22190 for the day.

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

  • 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 22710 F
  • Vwap of the session was at 22494 with volumes of 75.2 L and range of 716 points as it made a High-Low of 22820-22105
  • The settlement day Roll Over point (Sep) is 23576
  • The VWAP & POC of Aug Series is 22444 & 21595 respectively.
  • The VWAP & POC of Jul Series is 22163 & 22087 respectively.
  • The VWAP & POC of Jun Series is 20918 & 21000 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 22284-22710-22802

HVNs – 22415 / 22995 / 23688 / 23800 / 24250

Main Hypos for 15.09.2020:

a)BNF needs to sustain above 22209 for a rise to 22290-328 / 22392-433 / 22490-560 / 22650-736 & 22820-854
b) The auction staying below 22180 could test 22101-022 / 21984*-937 / 21860-780 / 21723-660 & 21600*-540

Extended Hypos:

c) Above 22854, BNF can probe higher to 22860-928 / 23000*-075 / 23150*-230 & 23316-385
d) Breaking below 21540, it could fall to 21499-425 / 21350-245 / 21180-138 & 21085-039

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