Market Profile Analysis dated 15th January 2021

Nifty Jan F:  14458 [ 14623 / 14375 ]

NF gave an Open Test Drive away from the yPOC of 14626 moving away from the 3-day balance as it left an initiative selling tail from 14558 to 14623 forming a big range of 130 points in the IB (Initial Balance). The auction then made a RE lower in the ‘D’ period followed by another one in the ‘E’ period as it tagged 14460 as it took support at the VWAP of the NeuX profile of 11th Jan from where it gave a retracement back to 14557 in the ‘H’ period but left a PBH just below the morning singles which confirmed that the morning sellers were still active and this led to a fresh RE in the ‘J’ period as NF completed the 1.5 IB objective of 14429 and almost tagged the 2 IB target of 14364 in the ‘K’ period as it made a low of 14375 stalling in previous week’s spike close of 14338 to 14379 resulting in profit booking by the shorts which led to a bounce back to 14474 into the close. Value for the day was completely lower with a 3-1-3 profile having a big range of 249 points with tails at both ends and a close at the dPOC of 14460 which means that the auction may remain in this range filling up the low volume zone between 14410 to 14530 in the next session.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Tesh Drive – Down (OTD on lower volumes)
  • The Day type was a Normal Variation Day – Down (3-1-3 profile)
  • Largest volume was traded at 14460 F
  • Vwap of the session was at 14495 with volumes of 144.2 L and range of 249 points as it made a High-Low of 14623-14375
  • 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 FA got revisted in ‘T+4’ Days and is no longer a valid reference.
  • 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 14401-14460-14532

HVNs – 13970 / 14040 / 14120 / 14220 / 14460 / 14594*


BankNifty Jan F:  32314 [ 32610 / 32105 ]

BNF opened lower & made an initiative move away from the 2-day balance as it left a selling tail from 32610 to 32430 in the IB and trend lower for the first half of the day even breaking below the buying tail of 32377 to 32250 as it entered the 4-day composite of 7th to 12th Jan and tagged the POC of 32161 while making a low of 32150 in the ‘E’ period. The auction then made a retracement over the next 3 periods as it tested the morning selling tail but could only leave a PBH at 32490 in the ‘H’ period which meant that the morning sellers were coming back and this led to new lows for the day being formed at 32105 in the ‘K’ period where it left a small buying tail at lows and closed at the dPOC of 32304 leaving a 3-1-3 profile for the day with completely lower Value.

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

  • The BNF Open was a Open Rejection Reverse – Down (ORR)
  • The Day type was a Normal Variation Day – Down (NV)
  • Largest volume was traded at 32304 F
  • Vwap of the session was at 32334 with volumes of 49.6 L and range of 505 points as it made a High-Low of 32610-32105
  • 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 32243-32304-32435

HVNs – 31410 / 31900 / 32149* / 32406 / 32686

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