Market Profile Analysis dated 17th March 2021

Nifty Mar F:  14771 [ 14981 / 14741 ]

NF made an Open Auction start on lower than average volumes but remained below the yPOC of 14971 which was an indication that the PLR (Path of Least Resistance) was to the downside and the auction went on to make a typical C side extension where it made new lows of 14872 but was unable to sustain below the IBL and not only triggered a probe to the day’s VWAP but also went on to make a RE (Range Extension) to the upside in the ‘E’ period as NF made marginal new highs for the day at 14981 but was swiftly rejected indicating aggressive supply getting in. The auction then made a trending move lower for the rest of the day as it made a fresh RE to the downside in the ‘G’ period confirming a FA (Failed Auction) at top after which it left couple of extension handles at 14856 and 14802 and spiked lower into the close hitting new lows for the week at 14741 almost completing the 1 ATR target of 14736 before closing the day at 14771 leaving a Neutral Extreme Day (Down) and the zone to watch for the next open would be from 14741 to 14802.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction (OA)
  • The Day type was a Neutral Extreme Day – Down (NeuX)
  • Largest volume was traded at 14759 F
  • Vwap of the session was at 14869 with volumes of 109.8 L and range of 240 points as it made a High-Low of 14981-14741
  • NF confirmed a FA at 14981 on 17/03 and the 1 ATR objective comes to 14736.
  • 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 14742-14759-14907

HVNs – 14810 / 14894 / 15037* / 15230


BankNifty Mar F:  34360 [ 35184 / 34230 ]

BNF also made an Open Auction start and remained below the yPOC of 34912 leaving a narrow 305 point range in the IB after which it made a typical C side extension lower to hit 34651 which got swiftly rejected resulting in a big move to the upside as the auction not only scaled above VWAP but made a RE to the upside leaving an extension handle at 34991 and went on to complete the 1.5 IB objective of 35144 as it made new highs of 35184 in the ‘E’ period. However, this extension handle got negated in the ‘F’ period itself as BNF confirmed a small selling tail from 35110 to 35184 which meant the sellers were back and they controlled the auction for the rest of the day as they first made new lows for the day in the ‘J’ period confirming a FA at 35184 and then went on to spike into the close after leaving an extension handle at 34538 as it completed the 1 ATR objective of 34297 before closing the day at 34360 leaving a Neutral Extreme Day (Down) with the reference for the next session being from 34230 to 34538.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auction (OAIR)
  • The Day type was a Neutral Extreme Day – Down (NeuX)
  • Largest volume was traded at 34747 F
  • Vwap of the session was at 34735 with volumes of 54 L and range of 954 points as it made a High-Low of 35184-34230
  • BNF confirmed a FA at 35184 on 17/03 and completed the 1 ATR objective of 34297 on the same day. The 2 ATR target from this FA comes to 33409
  • 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 34552-34747-34947

HVNs – 35280* / 35640

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