Market Profile Analysis dated 15th September 2020

Nifty Sep F:  11527 [ 11542 / 11451 ]

NF opened slightly higher and took support at 11455 indicating that it wanted to stay in previous day’s Value as it went on make a high of 11506 in the ‘A’ period filling up the low volume zone from 11455 to the extension handle of 11512 as the next 2 periods also stayed inside this narrow IB range of 52 points. The auction then made an attempt to break lower in the ‘D’ period where it made marginal new lows of 11451 but was swiftly rejected back into the IB as it got above VWAP and made another rotation towards the IBH in the ‘E’ period and replicated the RE failure on the upside in the ‘F’ period as it made marginal new highs of 11513 but was unable to sustain above the extension handle of 11512 which led to another rotation lower to 11461 in the ‘H’ period where it left a PBL (Pull Back Low) confirming that the FA (Failed Auction) at 11451 was still active. NF then trended higher for the rest of the day making multiple REs in the J & K periods as it hit 11542 stalling just below the yPOC of 11550 before closing the day at 11527 leaving an inside bar both in terms of Value & Range.

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

  • The NF Open was a Open Auction In Range (OAIR)
  • The Day type was a Neutral Extreme Day – Up (NeuX)
  • Largest volume was traded at 11500 F
  • Vwap of the session was at 11497 with volumes of 96.4 L and range of 91 points as it made a High-Low of 11542-11451
  • NF confirmed a FA at 11451 on 15/09 and the 1 ATR objective comes to 11596.
  • 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+5’ 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 11461-11500-11515

HVNs – 11400 / 11448 / 11485 / 11555 / 11664

Main Hypos for 15.09.2020:

a) NF needs to sustain above 11529 for a rise to 11550*-570 / 11596 & 11632-673
b) The auction staying below 11515 could test 11497-477 / 11451-430 & 11409-385

Extended Hypos:
c) Above 11673, NF can probe higher to 11696-711 / 11742-773 & 11795-829
d) If 11385 is taken out, NF could fall to 11355*-324 / 11294-270* & 11251-229


BankNifty Sep F:  22558 [ 22597 / 22084 ]

BNF opened the day by repairing the poor low of previous day as it made new lows of 22084 for the September series but was swiftly rejected as it left a buying tail from 22154 to 22084 in the IB to get back into the Value of the 4-day balance it had been forming and almost tagged the composite POC of 22417 while making a IBH of 22388. The auction them formed a balance in this IB range for most part of the day which included a failed attempt to probe higher in the ‘F’ period where BNF made new highs of 22410 but the inability to scale above 22417 meant that the demand was still not good enough as it was settling down as a ‘p’ shape profile for the day. The killer ‘K’ period then made a fresh RE to the upside triggering a spike into the close as BNF completed the 80% Rule in the 4-day composite as it made highs of 22597 before closing the day as 22558 indicating that this imbalance could continue in the next session(s).

Click here to view the 5-day composite of BNF on MP Lite

  • The BNF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Variation Day – Up (with a spike close)
  • Largest volume was traded at 22220 F
  • Vwap of the session was at 22309 with volumes of 74.6 L and range of 513 points as it made a High-Low of 22597-22084
  • 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 22177-22220-22364

HVNs – 22294 / 22415 / 22995 / 23688 / 23800 / 24250

Main Hypos for 16.09.2020:

a)BNF needs to sustain above 22595 for a rise to 22650-736 / 22820-928 / 23000*-075 & 23150*-230
b) The auction staying below 22525 could test 22411-324 / 22260-189 / 22080-020 & 21984*-937

Extended Hypos:

c) Above 23230, BNF can probe higher to 23316-385 / 23440-514 / 23586-630 / 23720-810
d) Breaking below 21937, it could fall to 21860-780 / 21723-660 / 21600*-540 / 21499-425 & 21312

For more tradeable ideas and intraday trading strategies based on MarketProfile and the OrderFlow live charts with OrderFlow analysis Live, subscribe to the trading room. The Vtrender Trading Room hosts India’s largest MarketProfile community live every trading session from 9.15 am to 3.30 pm.

If not a Trading Room member you can get immediate access at – https://www.explara.com/e/vtrendertradingroomlive