Market Profile Analysis dated 16th February 2021

Nifty Feb F:  15330 [ 15430 / 15246 ]

NF opened with yet another gap up and settled down into an OAOR (Open Auction Out of Range) after it made new highs of 15430 in the A period leaving a narrow range of just 68 points in the IB (Initial Balance). The auction continued to coil over the next 2 periods building volumes at 15395 before it made a RE (Range Extension) to the downside in the ‘E’ period indicating that the longs had been booking profits and that there was no more fresh demand coming in at the new highs and this triggered a OTF (One Time Frame) probe lower till the ‘J’ period as NF completed the 80% Rule in previous Value and even broke below the PBL of 15285 while almost testing the buying tail as it made a low of 15246. The ‘K’ period stopped this OTF move down and the auction gave a retracement back to the combo of dPOC & VWAP as it tagged 15340 before closing the day at 15330. Value for the day was mostly higher but the upside probe seems to be over till today’s HVN of 15395 is not taken out on good volumes whereas on the downside 15255 would be the level to watch in the coming session(s).

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Normal Variation Day – Down (NV)
  • Largest volume was traded at 15330 F
  • Vwap of the session was at 15340 with volumes of 94.6 L and range of 184 points as it made a High-Low of 15430-15246
  • NF confirmed a FA at 14731 on 04/02 and completed the 2 ATR objective of 15265 on 09/02. This FA has not been tagged and is now positional support.
  • The settlement day Roll Over point (Feb) is 13809
  • The VWAP & POC of Jan Series is 14288 & 14569 respectively.
  • The VWAP & POC of Dec Series is 13528 & 13528 respectively.
  • The VWAP & POC of Nov Series is 12554 & 12862 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 15315-15330-15376

HVNs – 13886 / 14015 / 14172 / 14664 / 14820 / 14879 / 15120* / 15310


BankNifty Feb F:  37218 [ 37770 / 36832 ]

BNF continued the Trend Day imbalance as it gave an almost OL (Open=Low) start at PDH (Previous Day High) and continued to rise in the A period while hitting new highs of 37770 but similar to NF saw some good profit booking happening at 37693 and confirmation of longs having exited came early in the B perios as the auction broke VWAP triggering a quick fall to 37240 where it tested yesterday’s higher extension handle of 37258. BNF then gave a pull back to VWAP in the ‘D’ period but got rejected from 37543 indicating change of polarity which enabled the sellers to initiate a fresh leg lower starting with the E period and which lasted till the ‘J’ period as the auction not only broke below the Trend Day VWAP of 36980 but made an attempt to test the yPOC of 36766 but stalled at 36832 from where it gave a retracement back to day’s VWAP of 37266. Value for the day was overlapping to higher with a close around the 2-day POC of 37191 hence the 2-day Value of 36810-37191-37431 can be taken as the reference for the coming session(s).

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Normal Variation Day – Down (NV)
  • Largest volume was traded at 37200 F
  • Vwap of the session was at 37266 with volumes of 64.7 L and range of 937points as it made a High-Low of 37770-36832
  • BNF confirmed a FA at 34343 on 04/02 and completed the 2 ATR objective of 36091 on 05/02. This FA has not been tagged and is now positional support.
  • The settlement day Roll Over point (Feb) is 30445
  • The VWAP & POC of Jan Series is 31597 & 32062 respectively.
  • The VWAP & POC of Dec Series is 30270 & 30766 respectively.
  • The VWAP & POC of Nov Series is 28104 & 29565 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 36900-37200-37370

HVNs – 30041 / 30534 / 30996 / 34407 / 35763* / 35920 / 36339

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