Market Profile Analysis dated 17th February 2021

Nifty Feb F:  15207 [ 15324 / 15165 ]

NF not only opened lower but went on to break below 15255 in the ‘A’ period leading to a quick fall to 15205 where it took support probably with fresh demand coming in just above the 12th Feb VPOC of 15201 reversing the probe to the upside as it got back above VWAP post IB and went on to make a RE (Range Extension) in the ‘D’ period hitting new highs for the day at 15318. The auction then consolidated for the next 2 periods leaving a PBL (Pull Back Low) at 15270 in the ‘F’ period before it made a fresh RE in the G period but could only make marginal new highs of 15324 indicating that yesterday’s sellers were defending this zone of 15330 to 15340 which contained the yPOC & VWAP. This rejection from new highs triggered a big liquidation move over the next 2 periods as NF went on to make a RE to the downside in the ‘I’ period breaking below the VPOC of 15201 and tagged the VWAP of 12th Feb which was at 15168 while making new lows for the day at 15165. However, the two sided auction for the day continued as the J period got back into the IB followed by a higher high of 15258 in the ‘K’ period where it left a PBH reversing the probe once again to the downside into the close as it made a low of 15186 in the ‘M’ period leaving a Neutral Day with completely lower Value and a prominent POC at 15235.

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 Day (NeuD)
  • Largest volume was traded at 15235 F
  • Vwap of the session was at 15244 with volumes of 101.7 L and range of 159 points as it made a High-Low of 15324-15165
  • 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 15196-15235-15270

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


BankNifty Feb F:  36976 [ 37400 / 36820 ]

BNF opened lower but made an initial probe to the upside where it got rejected from the 2-day composite VWAP of 37143 to reverse the probe as it made new lows for the day at 36820 in the ‘B’ period almost tagging the lower end of the 2-day Value Area of 36810-37191-37431. Having being defended at the VAL of the balance, the auction then initiated the 80% Rule on the upside over the next 2 periods as it made a successful C side extension where it tagged the yPOC of 37200 and extended the range further in the ‘D’ period as it hit 37395 stalling just below the VAH. BNF then consolidated for the next 2 periods but remained above IBH & VWAP which meant that the PLR (Path of Least Resistance) was still to the upside and even made a fresh RE attempt in the ‘G’ period but could only make a marginal new high of 37400 which indicated that it was not ready to move away from the balance thus paving way for another instance of the 80% Rule playing out but this time to the downside as the auction tested the small buying tail of 36858 to 36820 at lows and left a PBL at 36850 in the ‘I’ period before giving a rotation back to the day’s VWAP and left a PBH right at 37142 in the ‘K’ period before closing the day at 36976. Value & Range for the day was completely inside the 2-day composite which means we now have a 3-day balance in BNF at 36884-37053-37368 and the composite chart can be seen in the link given below.

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 Variation Day – Up (NV)
  • Largest volume was traded at 37050 F
  • Vwap of the session was at 37097 with volumes of 54.3 L and range of 581 points as it made a High-Low of 37400-36820
  • 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 36870-37050-37188

HVNs – 30041 / 30534 / 30996 / 34407 / 35751* / 35920 / 36339

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