Market Profile Analysis dated 17th August 2020

Nifty Aug F:  11187 [ 11397 / 11111 ]

NF opened with a big gap up of almost 100 points but also made an almost OH (Open=High) start at 11273 and was rejected from Friday’s VWAP of 11263 as it probed lower in the IB (Initial Balance) closing the gap and making a low of 11155 in the ‘B’ period stalling just above the buying tail of Friday which was from 11150 to 11111. Having made a pretty large IB range with rejection at both ends, the auction then formed a balance all day in the selling tail of Friday and formed an inside bar on the daily with a 3-1-3 profile developing before making a small spike higher in the last 30 minutes as it made new highs of 11282 & closed above 11263 indicating that shorts were booking out. Value for the day also was completely inside and has a prominent POC at 11230 which could act as support as the 2-day composite represents a DD (Double Distribution) profile so staying above 11263, NF could attempt to tag the SOC (Scene of Crime) at 11320 & the VPOC of 11343 it left on last Friday.

Click here to view the 2-day composite DD profile of NF in MP Lite

  • The NF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Day (3-1-3 profile)
  • Largest volume was traded at 11230 F
  • Vwap of the session was at 11226 with volumes of 110.9 L and range of 127 points as it made a High-Low of 11282-11155
  • NF confirmed a FA at 11397 on 14/08 and completed the 2 ATR objective of 11111 on the same day.
  • The settlement day Roll Over point (Aug) is 11095
  • The VWAP & POC of Jul Series is 10897 & 10803 respectively.
  • The VWAP & POC of Jun Series is 10110 & 10110 respectively.
  • The VWAP & POC of May Series is 9183 & 9109 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 11205-11230-11248

HVNs – 10918 / 10970 / 11095 / 11196 / 11310

Main Hypos for 18.08.2020:

a) NF needs to sustain above 11278 for a rise to 11306-343* / 11370-395 & 11427
b) The auction staying below 11262 could fall to 11230-226 / 11205-190 / 11167-148 & 11125-103

Extended Hypos:
c) Above 11427, NF can probe higher to 11442-465 / 11484-503 & 11521-540
d) If 11103 is taken out, NF could fall to 11094-075 / 11040-004 & 10982


BankNifty Aug F:  21734 [ 21925 / 21394 ]

BNF also opened higher and similar to NF, was rejected from just below Friday’s VWAP at open as it made a high of 21925 and made a quick fall to 21499 in the IB leaving a long selling tail at top indicating that sellers are still active. The auction then made a ‘C’ side extension into this tail but could only leave a PBH at 21686 after which it remained in a narrow range of just 150 points till the ‘H’ period building volumes near the RO Point of 21615 forming a ‘b’ shape profile for the day. BNF then made a RE on the downside in the ‘J’ period as it broke below Friday’s low and went on to make a lower low in the ‘K’ period as it hit 21394 but was rejected back into the IB indicating lack of supply as the auction snapped back to the developing prominent POC of 21600 which was acting like a magnet and this caused some short covering by the laggards into the close as the auction climbed above the PBH of 21685 and went on to tag 21790 before closing the day at 21734. Value for the day was lower but the volumes build up at 21600 suggests that the Friday’s sellers have booked and we have a 2-day composite DD profile in BNF also which shows that if 21600 is held, there could be a probable move towards the HVN of the upper distribution at 22192 which is also a VPOC in the coming session(s).

Click here to view the 2-day composite DD profile chart of BNF in MP Lite

  • The BNF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Day
  • Largest volume was traded at 21600 F
  • Vwap of the session was at 21628 with volumes of 57.6 L and range of 531 points as it made a High-Low of 21925-21394
  • The settlement day Roll Over point (Aug) is 21615
  • The VWAP & POC of Jul Series is 22163 & 22087 respectively.
  • The VWAP & POC of Jun Series is 20918 & 21000 respectively.
  • The VWAP & POC of May Series is 18767 & 19633 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 21515-21600-21720

HVNs – 21545 / 21615 / 22188

Main Hypos for 18.08.2020:

a) BNF needs to sustain above 21774 for a rise to 21820-845 / 21900-959 / 22010-110 / 22192* & 22245-283
b) The auction accepting below 21720 could test 21672-600 / 21540-499 / 21425 / 21312-245 & 21183

Extended Hypos:

c) Above 22283, BNF can probe higher to 22320-422 / 22500-550 / 22600-710 & 22829-865
d) Breaking below 21183, it could fall to 21138 / 21085-039 / 20970-904 / 20850-750 & 20690-589

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