Market Profile Analysis dated 16th Apr

Nifty Apr F:

Yesterday’s report ended with this line ‘a good chance of giving a move away from this POC in the next session’ and today NF opened with a small gap up which was also an OL (Open=Low) start & drove higher moving away from the VAH of the composite it had been forming from the start of this series forcing the shorts to cover as the auction left a buying tail from 11788 to 11740 in the IB (Initial Balance) indicating initiative activity which also could be the start of a new IPM (Initial Price Movement). (Click here to view the profile chart for better understanding) NF then probed higher in the next 2 periods extending above the IBH of 11811 but the range contracted suggesting that supply was coming in at these higher levels which stopped the OTF (one time frame) move higher since open as the auction then turned lower to give a dip to VWAP in the ‘G’ period as it made a low of 11803 and closed above IBH confirming that the morning initiative buyer was still there & controlling the auction. NF then resumed its OTF upside as it trended higher for the next 4 periods making fresh range extensions to the upside tagging the 1.5 IB move up and also printing new all time highs of 11847 as it got above that weekly FA of 11834 in the ‘K’ period. The auction however could not sustain above 11834 and gave another dip to VWAP in the ‘L’ period as it made a low of 11812 where again there was demand returning as NF completed a ‘p’ shape profile for the day with a prominent POC at 11814 which will be the level to watch in the next session.

Nf Compo1 11 Market Profile Analysis Dated 16Th Apr 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 Tradi

  • The NF Open was a Open Auction Out of Range (OAOR)
  • The day type was a Normal Variation Day – Up (‘p’ Profile)
  • Largest volume was traded at 11814 F
  • Vwap of the session was at 11816 with volumes at 74.2 L in a session which traded a High-Low range of 11847-11758 for a range of 89 points
  • NF confirmed a FA at 11834 on 03/04 and tagged the 2 ATR move down of 11620 on 11/04. This FA got tagged today though NF was not able to close above it. A close above it will trigger a new leg on the upside.
  • NF had confirmed a FA at 11432 on 26/03 and tagged the 2 ATR move of 11632 on 27/03. This FA has not been tagged & is now strong support.
  • The settlement day Roll Over point is 11673
  • The VWAP & POC of Mar Series is 11327 & 11448 respectively.
  • The VWAP & POC of Feb Series is 10830 & 10856 respectively.
  • The VWAP & POC of Jan Series is 10795 & 10823 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 11809-11814-11845

Hypos / Estimates for the next session:

a) NF needs to get above 11843 for a move higher to 11858-865 & 11880
b) NF has immediate support at 11815-802 below which it test 11788-780 & 11758-748
c) Above 11880, the auction can probe higher to 11908-913 & 11930-944
d) Below 11748, NF can probe lower to 11727-721 & 11712-706
e) If 11945 is taken out, the auction can rise to 11965-970 & 11988-12004
f) Break of 11705 can being lower levels of 11682 & 11660-646


BankNifty Apr F:

Bnf Compo1 11 Market Profile Analysis Dated 16Th Apr 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 Tradi

BNF gave a gap up of more than 100 points and continued to drive higher as it got above the FA of 30335 and went on to scale the previous swing high of 30435 in the IB (Initial Balance) itself leaving a buying tail from 30385 to 30249. (Click here to view the profile chart for better understanding) The auction then consolidated in a narrow for the next 4 periods making a ‘p’ profile which indicated short covering after the initiative buying at open. The ‘G’ period then saw another round of initiative activity by buyers as BNF made a big move to the upside leaving an extension handle at 30480 and went on to tag the 1.5 IB extension of 30569. BNF continued to probe higher completing the 2 ATR move of 30581 from the FA of 29833 & went on to tag the vPOC of 30660 in the ‘K’ period as it made a high of 30678 which also marked the 2 IB range extension which saw some profit booking by the longs. The auction then gave a dip to 30550 in the ‘L’ period but recovered to close around the HVN of the upper distribution at 30625 giving a nice Double Distribution Trend Day Up with the singles of 30533 to 30480 separating the 2 distributions and the lower HVN at 30452.

  • The BNF Open was a Open Auction Out of Range plus Drive (OAOR)
  • The day type was a Double Distribution Trend Day (Up)
  • Largest volume was traded at 30452 F
  • Vwap of the session was at 30520 with volumes at 24.8 L in a session which traded a High-Low range of 30678-30278 for a range of 400 ponts
  • BNF confirmed a FA at 29833 on 12/04 & tagged the 2 ATR move up of 30581 today.
  • BNF confirmed a FA at 30335 on 10/04 and tagged the 1 ATR move down of 29911 on 11/04. This FA got tagged today at ‘T+4’ Days and BNF closed above it
  • The settlement day Roll Over point is 30500
  • The VWAP & POC of Mar Series is 29061 & 29778 respectively.
  • The VWAP & POC of Feb Series 27042 & 26978 respectively
  • The VWAP & POC of Jan Series 27236 & 27514 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 30293-30452-30598

Hypos / Estimates for the next session:

a) BNF needs to get above 30625-648 for a move to 30715-727 & 30760-774
b) Staying below 30625 as open, the auction can test 30550-530 & 30480
c) Above 30775, the auction can probe higher to 30813-827 and 30875
d) Below 30480, BNF can go down to 30412-385 & 30335
e) If 30875 is taken out, the auction can make new highs of 30915-921 & 30975
f) Break of 30335 could bring lower levels of 30285-250 & 30188

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