Market Profile Analysis dated 17th June 2020

Nifty Jun F:  9854 [ 9989 / 9810 ]

HVNs – 9093 / 9275 / 9433 / 9785 / 9894 / 10020 / 10094 / 10140 / 10260

NF remained mostly in previous day’s Value filling up the profile with rejections at both ends as it made an attempt to move away from the Value forming an inside day in range as well as Value with a 3-1-3 profile leaving a nice 2-day Gaussian profile inside the larger 5-day composite it has been forming since 11th June with the volumes being built at 9894 level. The auction could be gearing up for a move away from this zone in the coming sessions and the references on the downside are 9810 & 9746. On the upside, the levels to watch above 9894 would be 9961-93 & 10041.

(Check the MPLite chart of the 2-day compostite in NF) & (Check the MPLite chart of the larger 5-day compostite in NF)

  • 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 9930 F
  • Vwap of the session was at 9904 with volumes of 183.7 L and range of 179 points as it made a High-Low of 9989-9810
  • The 11th June Trend Day VWAP of 9997 would be important supply point. This was briefly taken out on 16/06 but the auction could not sustain above it.
  • The 27th May Trend Day VWAP of 9165 would be important support level.
  • The settlement day Roll Over point (Jun) is 9426
  • The VWAP & POC of May Series is 9183 & 9109 respectively.
  • The VWAP & POC of Apr Series is 8999 & 9010 respectively.
  • The VWAP & POC of Mar Series is 9146 & 8592 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 9868-9930-9959

Main Hypos for the next session:

a) NF needs to sustain above 9860-68 for a rise to 9896 / 9922-33 / 9959-72 / 10008-041 & 10080-95*
b) The auction staying below 9840 can test lower levels of 9810 / 9780 / 9735-12 / 9685-62*& 9621

Extended Hypos:
c) Above 10095, NF can probe higher to 10110* / 10128-144 / 10179-190 / 10220-256 & 10295-320
d) If 9621 is taken out, NF could start a probe to 9571-55 / 9510 / 9480-60 / 9441 & 9395-69


BankNifty Jun F:  20147 [ 20620 / 19917 ]

HVNs – 17800 / 19000 / 19186 / 19870 / 19980 / 20380 / 20750 / 20874

BNF opened lower but took support at previous day’s VAL as it left a small buying tail in the IB and probed higher as it made multiple REs on the upside but could only make marignal new highs & failed to tag even the 1.5 IB extension stalling in previous day’s selling tail as it made a high of 20620 after which it gave up all the gains for the day to make an OTF move lower for the last couple of hours as it made lows of 20080 before closing the day at 20147. Like in NF, BNF also has formed an inside bar on both range & Value with an overlapping POC at 20140 so looks set to give a move away from here. However, the auction has formed a base around 19910-850 which would be the important zone to watch on the downside and on the upside there is considerable congestion in the band of 20535-640 which needs to be taken out for a probe higher in the coming sessions.

(Check the MPLite chart of the 2-day compostite in BNF)

  • The BNF Open was a Open Auction In Range  (OAIR)
  • The day type was a Normal Day
  • Largest volume was traded at 20140 F
  • Vwap of the session was at 20293 with volumes of 90.8 L and range of 704 points as it made a High-Low of 20620-19917
  • The 11th June Trend Day VWAP of 20795 would be important supply point.
  • The 27th May Trend Day VWAP of 18138 would be important support level.
  • The settlement day Roll Over point (Jun) is 19035
  • The VWAP & POC of May Series is 18767 & 19633 respectively.
  • The VWAP & POC of Apr Series is 19605 & 19710 respectively.
  • The VWAP & POC of Mar Series is 22104 & 20248 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 20120-20140-20440

Main Hypos for the next session:

a) BNF needs to sustain above 20178 for a rise to 20250-292 / 20400-535 / 20640-685 / 20795*-905* & 21024
b) Below 20103, the auction could test 20004 / 19910-850 / 19725-655 / 19555-450 & 19344-267

Extended Hypos:
c) If 21024 is taken out, BNF could start a fresh probe to 21120-210 / 21276-300 / 21420*-528 / 21648-695 & 21785
d) Breaking below 19267, there could be a fall to 19186-085 / 18980-935 / 19870-780 / 18720-684 & 18625-535

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