Market Profile Analysis dated 16th March 2021

Nifty Mar F:  14960 [ 15082 / 14915 ]

NF opened slightly higher but was still an OAIR (Open Auction In Range) which pointed to a narrow range start and the auction obliged with a 80 point IB (Initial Balance) after making a high of 15036 in the ‘A’ period as it probed lower to take support at the 14965 level while making a low of 14957 in the B period. The C period then made a big RE (Range Extension) on the upside hitting new highs for the week at 15082 and completing the 1.5 IB objective of the day but the D period failed to give any follow up indicating that the C side RE was once again used by big players to take a short position after which NF made a slow probe lower getting back into the IB in the ‘E’ period after which it made a RE lower in the ‘H’ period followed by a lower low of 14915 in the ‘I’ period which was also the 1.5 IB target on the downside apart from being the VAH of yesterday. The auction then completed a perfect Neutral Centre Day forming a balanced profile for the day with a close near the dPOC of 14971. Value however was completely higher so the PLR for the next session would be on the upside provided NF builds Value above 15023 or gets initiative buying around today’s POC pf 14971.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction In Range (OAIR)
  • The Day type was a Neutral Centre Day (NeuC)
  • Largest volume was traded at 14971 F
  • Vwap of the session was at 14997 with volumes of 109.8 L and range of 167 points as it made a High-Low of 15082-14915
  • NF confirmed a FA at 14776 on 02/03 and completed the 2 ATR objective of 15203 on 03/03. This FA got tagged on 15/03 and gave a good bounce of 250 points.
  • The settlement day Roll Over point (Mar) is 15174
  • The VWAP & POC of Feb Series is 14893 & 15115 respectively.
  • The VWAP & POC of Jan Series is 14288 & 14569 respectively.
  • The VWAP & POC of Dec Series is 13528 & 13528 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 14939-14971-15023

HVNs – 14810 / 14894 / 15037* / 15230


BankNifty Mar F:  34923 [ 35494 / 34790 ]

BNF opened higher but got rejected from previous day’s selling tail as it made a high of 35494 at open and formed a narrow range inside bar on the daily filling up the low volume zone of yesterday’s profile and in the process made a low of 34790. Value also was completely inside prevoius Value hence giving a 2-day composite at 34824-35307-35350 with the VWAP at 34988. Today’s POC shifted lower to 34912 into the close and would be the reference for the next open with the sellers being dominant at the 35430 zone on the upside where as on the downside can expect the HVN of 34550 to act as support.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Day (Inside Bar)
  • Largest volume was traded at 34912 F
  • Vwap of the session was at 35102 with volumes of 47.4 L and range of 704 points as it made a High-Low of 35494-34790
  • The settlement day Roll Over point (Mar) is 36719
  • The VWAP & POC of Feb Series is 35530 & 35820 respectively.
  • The VWAP & POC of Jan Series is 31597 & 32062 respectively.
  • The VWAP & POC of Dec Series is 30270 & 30766 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 34884-34912-35226

HVNs – 35295* / 35640

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