Market Profile Analysis dated 17th October

Market Profile Analysis dated 17th October 1

Nifty Oct F: 11600 [ 11619/ 11458 ]

HVNs – 11155 / 11250-253 / (11276) / 11330 / 11380 / [11410] / 11484 / 11592 / 11634

NF gave another Open Auction start but confirmed a multi-day FA (Failed Auction) at PDL of 11420 as it stayed above the prominent POC of 11460 indicating that the PLR (Path of Least Resistance) would be to the upside. The auction stayed in a narrow balance for the first half of the day as it left just a 33 point IB (Initial Balance) and an attempt to probe lower in the ‘E’ & ‘F’ periods was met with rejection at 11458. NF then gave an initiative move in the ‘G’ period making a RE (Range Extension) to the upside thus confirming another FA at 11458 after which the auction trended higher into the close making a high of 11619 to leave a Neutral Extreme profile with the reference for next session at 11580 to 11619

(Click here to view NF making higher Value this entire week)

Market Profile Analysis dated 17th October 2

  • The NF Open was an Open Auction (OA)
  • The day type was a Neutral Extreme Day (Up)
  • Largest volume was traded at 11484 F
  • Vwap of the session was at 11522 with volumes of 108.3 L and range of 161 points as it made a High-Low of 11619-11458
  • NF confirmed a multi-day FA at 11420 on 16/10 and completed the 1 ATR move up of 11575. The 2 ATR objective comes to 11731.
  • NF confirmed a FA at 11458 on 17/10 and completed the 1 ATR move up of 11611. The 2 ATR objective comes to 11763.
  • NF confirmed a FA at 11113 on 09/10 and completed the 2 ATR move up of 11505.  This FA has not been tagged since & hence is now positional support
  • The Trend Day VWAP of 09/10 at 11224 will be important support and this held on 10/10 as well as on 11/10
  • The higher Trend Day VWAP of 05/07 at 11965 is an important reference higher.
  • The settlement day Roll Over point (Oct) is 11630
  • The VWAP & POC of Sep Series is 11127 & 10960 respectively.
  • The VWAP & POC of Aug Series is 10966 & 10984 respectively.
  • The VWAP & POC of Jul Series is 11575 & 11547 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 11460-11484-11568

Hypos / Estimates for the next session:

a) NF needs to sustain above 11615 for a move to *11628*-634 / 11660-670 & 11700
b) Immediate support is at 11590-584 below which the auction could test 11565 / 11543-530 & 11506
c) Above 11700, NF can probe higher to 11725-731 / 11751-763 & 11787
d) Below 11506, auction becomes weak for 11484-479 / 11458 & 11442-439
e) If 11787 is taken out, the auction go up to to 11805-810 / 11822 & 11842
f) Break of 11439 can trigger a move lower to 11424-420 / 11395-379 & 11364-360


BankNifty Oct F: 29079 [ 29150 / 28530 ]

HVNs – 28025 / 28130 / 28330 / 28430 / 28625 / 29070 / 29350-382

Market Profile Analysis dated 17th October 3

Report to be updated…

(Click here to view BNF moving away from the 9-day composite)

  • The BNF Open was an Open Auction In Range (OAIR)
  • The day type was a Normal Variation Day – Up
  • Largest volume was traded at 29070 F
  • Vwap of the session was at 28840 with volumes of 46.3 L and range of 620 points as it made a High-Low of 29150-28530
  • BNF confirmed a FA at 27774 on 09/10 and completed the 1 ATR move up of 28713. The 2 ATR objective comes to 29653. This FA has not been tagged since & hence is now positional support
  • The higher Trend Day VWAP of 08/07 at 30995 remains important reference going forward
  • The settlement day Roll Over point (Oct) is 30230
  • The VWAP & POC of Sep Series is 28416 & 27160 respectively.
  • The VWAP & POC of August Series 27858 & 27960 respectively
  • The VWAP & POC of Jul Series is 30425 & 30586 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 28700-29070-29136

Hypos / Estimates for the next session:

a) BNF needs to sustain above 29090 for a rise to 29145-167 / 29222-283 & 29350-382
b) Immediate support is at 29035-25 below which the auction could test 28965-910 / 28857-830 & 28760
c) Above 29382, BNF can probe higher to 29440-460 / 29532 & 29653
d) Below 28760, lower levels of 28705 / 28650-622 & 28541-500 could come into play
e) If 29653 id taken out, BNF can give a fresh move up to 29725-735 / 29800 & 29853-885
f) Break of 28500 could trigger a move down 28430-410 / 28340-330 & 28284-250

Additional Hypos

g) Above 29885, higher levels of 29928-950 / 30025-77* & 30140-175 could get tagged
h) If 28250 is broken, BNF could fall to 28190-150 / 28083-035 & 27970

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