Market Profile Analysis dated 17th September

Nifty Sep F: 10833 [ 11006 / 10808 ]

As mentioned in previous day’s report, NF moved away from the balance it was making and the Open Rejection Reverse start confirmed that the auction is turning into imbalance mode as we got a Trend Day down. Detailed report to follow…

  • The NF Open was an Open Rejection Reverse – Down (ORR)
  • The day type was a Trend Day – Down
  • Largest volume was traded at 10840 F
  • Vwap of the session was at 10904 with volumes of 145.1 L and range of 198 points as it made a High-Low of 11006-10808
  • NF confirmed a FA at 10785 on 04/09 & tagged the 1 ATR objective of 10958. The 2 ATR move up comes to 11131. This FA has not been tagged and is now positional support.
  • The Trend Day VWAP of 17/09 at 10904 would be important supply point.
  • The Trend Day POC & VWAP of 26/08 at 10886 10951 would be important references on the downside. NF closed below both these references on 17/09.
  • The Trend Day POC & VWAP of 19/07 at 11478 11523 are now positional references on the upside.
  • The higher Trend Day VWAP of 05/07 at 11965 is another important reference higher.
  • The settlement day Roll Over point is 11010
  • The VWAP & POC of Aug Series is 10966 & 10984 respectively.
  • The VWAP & POC of Jul Series is 11575 & 11547 respectively.
  • The VWAP & POC of Jun Series is 11833 & 11714 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 10809-10840-10940

Hypos / Estimates for the next session:

a) NF needs to sustain above 10840 above which it could can rise to 10865-876 & 10891-910
b) Staying below 10840 at open, the auction can test 10812-807 & 10795-785
c) Above 10910, NF can probe higher to 10930-938 & 10976-982
d) Below 10785, auction becomes weak for 10760 / 10746-733 & 10716
e) If 10982 is taken out, the auction can rise to 10998-11004 & 11025-40
f) Break of 10716 can trigger a move lower to 10680-676 / 10655 & 10640-631


BankNifty Sep F: 27140 [ 27882 / 27079 ]

As mentioned in previous day’s report, BNF also moved away from the balance it was making and the Open Rejection Reverse start confirmed that the auction is turning into imbalance mode as we got a Trend Day down. Detailed report to follow…

(Click here to view the updated chart of September BNF for better understanding)

  • The BNF Open was an Open Rejection Reverse – Down (ORR)
  • The day type was a Trend Day – Down
  • Largest volume was traded at 27690 F
  • Vwap of the session was also at 27509 with volumes of 47 L in a session which traded in a range of 803 points making a High-Low of 27882-27079
  • The Trend Day POC & VWAP of 17/09 at 27690 27509 would now be important references on the upside.
  • The Trend Day VWAP of 19/07 at 30085 is now positional supply point.
  • The higher Trend Day VWAP of 18/07 & 08/07 at 30598 & 30995 remain important references going forward
  • The settlement day Roll Over point is 27450
  • The VWAP & POC of August Series 27858 & 27960 respectively
  • The VWAP & POC of Jul Series is 30425 & 30586 respectively.
  • The VWAP & POC of Jun Series is 30914 & 30961 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 27297-27690-27879

Hypos / Estimates for the next session:

a) BNF has immediate supply at 27185 above which it could test 27225-250 / 27305-320 & 27385-400
b) Initial support is at 27128-100, below which the auction probe lower to 27000-26984 / 26936-920 & 26875
c) Above 27400, BNF can rise to 27450 / 27510-515 & 27584-607
d) Below 26875, lower levels of 26815 / 26785-780 & 26710 could come into play
e) Sustaining above 27607, BNF can give a fresh move up to 27690 / 27730 & 27800
f) Break of 26710 could trigger a move down 26660-640 / 26593 & 26530-520

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