Market Profile Analysis dated 16th October 2020

Nifty Oct F:  11765 [ 11798 / 11673 ]

The Trend Day in NF paved way for a balance on Friday as the auction remained in a relatively narrow range of 125 points forming an inside bar and a Normal Day filling up the low volume area of the previous day’s profile and closing right at the prominent dPOC of 11765.

Click here to view the Trend Day followed by a Normal Day in NF on MPLite

  • The NF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Day
  • Largest volume was traded at 11765 F
  • Vwap of the session was at 11748 with volumes of 119.2 L and range of 125 points as it made a High-Low of 11798-11673
  • NF confirmed a FA at 11817 on 14/10 and tagged the 1 ATR objective of 11965 on the same day. This FA got revisited on 15/10 and completed the 1 ATR move down to 11669
  • NF had confirmed a FA at 10857 on 25/09 and tagged the 2 ATR objective of 11165 on 28/09. This FA has not been tagged and is now positional support.
  • The settlement day Roll Over point (Oct) is 10830
  • The VWAP & POC of Sep Series is 11353 & 11560 respectively.
  • The VWAP & POC of Aug Series is 11311 & 11311 respectively.
  • The VWAP & POC of Jul Series is 10897 & 10803 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 11731-11765-11772

HVNs – 10962 / 11220* / 11425 / 11590 / 11740 / 11870 / 11920*

Hypos for 19.10.2020:

a) NF needs to accept over 11765 for a rise to 11794 / 11832-864 & 11908-942
b) The auction staying below 11760 could test 11720 / 11680-645 & 11590


BankNifty Oct F:  23584 [ 23717 / 23183 ]

BNF opened with a gap up on Friday and shaped a mini DD (Double Distribution) higher as it tested the second of the Trend Day extension handles of 23684 before giving a close at 23584.

Click here to view the mini DD profile in BNF on MPLite

  • The BNF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Variation Day – Up (NV)
  • Largest volume was traded at 23600 F
  • Vwap of the session was at 23472 with volumes of 75 L and range of 534 points as it made a High-Low of 23717-23183
  • BNF confirmed a FA at 23212 on 14/10 and tagged the 1 ATR objective of 23769 on the same day. This FA got revisited on 15/10 & is no longer a valid reference.
  • BNF had confirmed a FA at 20431 on 25/09 and tagged the 2 ATR objective of 21490 on 28/09. This FA has not been tagged and is now positional support.
  • The settlement day Roll Over point (Oct) is 20490
  • The VWAP & POC of Sep Series is 22320 & 22320 respectively.
  • The VWAP & POC of Aug Series is 22444 & 21595 respectively.
  • The VWAP & POC of Jul Series is 22163 & 22087 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 23365-23600-23671

HVNs – 20538 / 20822 / 21400* / 22090 / 22640 / 22890 / 23330* / 23730

Hypos for 19.10.2020:

a) BNF needs to sustain above 23600 for a rise to 23660-751 / 22854-900 / 23990 / 24074-160 & 24226-292
b) The auction staying below 23540 could test 23480-430 / 23355-275 / 23190 / 23100-044 & 22992-900

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