Market Profile Analysis dated 15th May

Nifty May F:

NF gave a OAIR start though it opened with a small gap up of 35 points thanks to the huge range of previous day. The first 2 periods ‘A’ & ‘B’ made similar lows of 11249 & 11248 to indicate that the auction is getting exhausted to the downside as it left a relatively narrow IB range of just 42 points. (Click here to view the profile chart for better understanding) NF then probed higher and went on to make a range extension to the upside in the dreaded ‘C’ period as it tagged 11300 but was not able to complete the 1.5 IB move of 11311 inspite of staying above the IBH & even closing above it. This failure along with the fact that the previous day was a 4 IB Up Day meant that the stage was set for a move lower and the first target being the repair of the morning poor lows. NF then started to make a slow rotation to the downside over the next 4 periods and in the ‘H’ period it gave that big move down breaking below the IBL and confirming a FA at top which meant that the sellers were back in action. NF made a low of 11200 in the ‘I’ period completing the 2 IB move down for the day from where it gave a bounce in the ‘J’ period which got above VWAP & almost tagged the IBH as it left a pull back high of 11288 as there was no new demand here and the auction reversed to the downside. The closing 3 periods then trended lower completing the 1 ATR move down from the FA of 11300 which came to 11171 and also tagged the 3 IB move lower as it made a low of 11157 leaving a Neutral Extreme profile with the spike zone at 11200 to 11157 as the opening reference for the next session.

Nf Compo1 9 Market Profile Analysis Dated 15Th May Banknifty Futures, Charts, Day Trading, Intraday Trading, Intraday Trading Strategies, Market Profile, Market Profile Trading Strategies, Nifty Futures, Order Flow Analysis, Support And Resistance, Technical Analysis, Trading Strategies, Volume Profile Trading

  • The NF Open was a Open Auction In Range (OAIR)
  • The day type was a Neutral Extreme Day – Down (3 IB)
  • Largest volume was traded at 11264 F
  • Vwap of the session was at 11249 with volumes of 108.4 L in a session of 143 points trading in a High-Low range of 11300-11157
  • NF confirmed a new FA at 11300 on 15/05 and tagged the 1 ATR move of 11171. The 2 ATR move down comes to 11042
  • NF confirmed a FA at 11695 on 06/05 and has tagged the 2 ATR target of 11480. This FA has not been tagged & is now strong resistance
  • NF confirmed a FA at 11376 on 10/05 and tagged the 2 ATR of 11143. This FA is on ‘T+4’ Days
  • NF confirmed a FA at 11397 on 09/05 and the tagged 2 ATR move lower at 11165. This FA is on ‘T+5’ Day
  • The settlement day Roll Over point is 11722
  • The VWAP & POC of Apr Series is 11641 & 11592 respectively.
  • The VWAP & POC of Mar Series is 11327 & 11448 respectively.
  • The VWAP & POC of Feb Series is 10830 & 10856 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 11220-11264-11293

Hypos / Estimates for the next session:

a) NF has immediate supply at 11175-185 above which it can move to 11202 & 11220-230
b) Staying below 11164 at open, the auction can test lower levels of 11143 & 11129-109
c) Above 11230, NF can probe higher to 11248 & 11280
d) Below 11109, lower levels of 11085-79 & 11065 come into play
e) Sustaining above 11280, NF can tag higher levels of 11294-305 & 11328-330
f) Break of 11065 could see the auction test lower levels of 11042-28 & 11013


BankNifty May F:

Bnf Compo1 9 Market Profile Analysis Dated 15Th May Banknifty Futures, Charts, Day Trading, Intraday Trading, Intraday Trading Strategies, Market Profile, Market Profile Trading Strategies, Nifty Futures, Order Flow Analysis, Support And Resistance, Technical Analysis, Trading Strategies, Volume Profile Trading

BNF also gave an OAIR start as expected after the big range outside bar it made yesterday and made a narrow IB of just 111 points. (Click here to view the profile chart for better understanding) The auction continued to balance in the range of 29079 to 28968 till the ‘E’ period where it attempted a range extension lower but was rejected at 28951 after which BNF left a pull back high at 29047 and this failure to extend the range to the upside after the ‘D’ period failure triggered a big move lower for the next 2 periods as BNF almost tagged the 3 IB move lower as it made a low of 28765 in the ‘I’ period. The ‘J’ period then gave a pull back to the IBL which got rejected leaving a PBH at 28975 and BNF then resumed the move lower and not only made new lows but went on to give a large spike from 28765 to 28595 which will be the reference in the next session as Spike Rules will come into play.

  • The BNF Open was a Open Auction In Range (OAIR)
  • The day type was a Normal Variation Day – Down with a spike (3 IB)
  • Largest volume was traded at 28640 F
  • Vwap of the session was at 28900 with volumes of 26.9 L in a session which traded a High-Low range of 29079-28595 for a range of 484 points
  • BNF confirmed a weekly FA at 29198 on 15/05. The 1 ATR move down comes to 28384
  • BNF confirmed a FA at 29418 on 08/05 & has tagged the 1 ATR move of 29000 . The 2 ATR move down from this FA comes to 28581 which got almost tagged today.
  • BNF confirmed a weekly FA at 29945 on 07/05. The 1 ATR move down of 29136 was tagged on 08/05. The 2 ATR move lower comes to 28327
  • The settlement day Roll Over point is 29760
  • The VWAP & POC of Apr Series is 30037 & 29762 respectively.
  • The VWAP & POC of Mar Series is 29061 & 29778 respectively.
  • The VWAP & POC of Feb Series 27042 & 26978 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 28620-28640-28960

Hypos / Estimates for the next session:

a) BNF needs to stay above 28690 for a probe higher to 28765 & 28830-850
b) Immediate support is at 28640 below which the auction can move lower to 28568-512 & 28436-408
c) Above 28850, BNF could tag higher levels of 28922-944 & 28997
d) Below 28418, the auction gets weaker for a move to 28327 & 28266
e) If 28997 is taken out, BNF can rise to 29050 & 29112-125
f) Break of 28266 could bring lower levels of 28210 & 28150-145

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