Market Profile Analysis dated 15th June 2020

Nifty Jun F:  9814 [ 9905 / 9682 ]

HVNs – 9093 / 9275 / 9433 / 9785 / 9868 / 10020 / 10094 / 10140 / 10260

NF opened lower giving a retracement after the 3 IB day on Friday as it left a small selling tail in the IB (Initial Balance) from 9875 to 9905 and took support at 9821 just above the extension handle of 9818. The auction then made a big RE (Range Extension) lower in the ‘C’ period itself and followed it up by lower lows for the next 3 periods as it made lows of 9682 in the ‘F’ period completing the 2 IB target on the downside and stalling above Friday’s buying tail of 9650. ‘G’ period saw the OTF (One Time Frame) probe coming to an end and this led to a slow retracement for the rest of the day as NF left a PBH (Pull Back High) at 9860 before closing at 9814 leaving an inside day plus a nice balance inside previous Value giving a 2-day Value at 9685-9714-9863. The auction could continue to balance in this zone unless it gives a move away from here on good volumes.

(Check the MPLite chart of the current 2-day compostite in NF)

  • The NF Open was a Open Auction In Range  (OAIR)
  • The day type was a Normal Variation Day – Down
  • Largest volume was traded at 9712 F
  • Vwap of the session was at 9781 with volumes of 209.1 L and range of 223 points as it made a High-Low of 9905-9682
  • The 11th June Trend Day VWAP of 9997 would be important supply point.
  • The 27th May Trend Day VWAP of 9165 would be important support level.
  • The settlement day Roll Over point (Jun) is 9426
  • The VWAP & POC of May Series is 9183 & 9109 respectively.
  • The VWAP & POC of Apr Series is 8999 & 9010 respectively.
  • The VWAP & POC of Mar Series is 9146 & 8592 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 9704-9712-9820

Main Hypos for the next session:

a) NF needs to sustain above 9844 for a rise to 9872 / 9905 / 9964-97* & 10016-32
b) The auction below 9800 can test lower levels of 9750 / 9712 / 9685-59 & 9621-00

Extended Hypos:
c) Above 10032, NF can probe higher to 10080-110* / 10128-144 / 10188 & 10220-256
d) If 9600 is taken out, NF could start a probe to 9571-55 / 9510 / 9480-48 & 9420-9392


BankNifty Jun F:  19911 [ 20430 / 19655 ]

HVNs – 17800 / 19000 / 19186 / 19820 / 19980 / 20380 / 20750 / 20904 / 21000 / 21084 / (21400) / (21540)

BNF also opened lower and left a selling tail from 20233 to 20430 in the IB as it made a low of 20051 and continued to probe lower making multiple REs till the ‘F’ period as it got into the Friday’s buying tail and made lows of 19655. Just as in NF, the ‘G’ period stopped the OTF move lower after which the auction continued to form a balance leaving a ‘b’ shape profile for the day as it confirmed a PBH at 20118 in the ‘K’ period before closing the day at 19911. BNF has formed an overlapping POC at 19820 and with both range & value being inside previous profile, it could give a move away from here in the coming session(s). The current 2-day balance in BNF has Value at 19716-19820-20140. (Click here to view the MP Lite chart of the same )

  • The BNF Open was a Open Auction In Range  (OAIR)
  • The day type was a Normal Variation Day – Down (‘b’ shape profile)
  • Largest volume was traded at 19820 F
  • Vwap of the session was at 19912 with volumes of 86.4 L and range of 775 points as it made a High-Low of 20430-19655
  • The 11th June Trend Day VWAP of 20795 would be important supply point.
  • The 27th May Trend Day VWAP of 18138 would be important support level.
  • The settlement day Roll Over point (Jun) is 19035
  • The VWAP & POC of May Series is 18767 & 19633 respectively.
  • The VWAP & POC of Apr Series is 19605 & 19710 respectively.
  • The VWAP & POC of Mar Series is 22104 & 20248 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 19718-19820-19996

Main Hypos for the next session:

a) BNF needs to sustain above 19944 for a rise to 20028-52 / 20140-233 / 20365-430 / 20521-556 / 20640-685 & 20730
b) Staying below 19900, the auction could test 19820 / 19704-680 / 19555-450 / 19344-267 / 19186 & 19099-85

Extended Hypos:
c) If 20730 is taken out, BNF could start a fresh probe to *20795*-820 / 20904* / 21024-132 / 21210-300 / 21420* & 21528
d) Breaking below 19085, there could be a fall to 19015-18980 / 18935-880 / 18812-780 / 18720-684 / 18625-535 & 18450-330

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