Market Profile Analysis dated 18th August 2020

Nifty Aug F:  11398 [ 11417 / 11262 ]

Previous day’s report ended with this ‘Value for the day also was completely inside and has a prominent POC at 11230 which could act as support as the 2-day composite represents a DD (Double Distribution) profile so staying above 11263, NF could attempt to tag the SOC (Scene of Crime) at 11320 & the VPOC of 11343 it left on last Friday

NF opened above previous day’s Value and made a low right at 11262 which gave more confirmation to the above view as it went on to probe higher in the IB making a high of 11318 stalling just below the extension handle of 11320 but at the same time left a buying tail from 11297 to 11262. The auction then went on to make a C side extension as it tagged 11332 but as happens most of the times led to a test of VWAP which was broken in the ‘D’ period which in turn triggered lower lows in the next 2 periods as the morning buying tail was tested and a PBL (Pull Back Low) of 11291 was formed. NF then made a slow rotation to the upside over the next 3 periods end even made new highs of 11340 and appeared to be making a ‘p’ shape profile for the day but gave a fresh RE (Range Extension) to the upside in the ‘J’ period while leaving an extension handle at 11340 and not only tagged the previous week’s high of 11397 but went on to hit 11417 falling just short of the 3 IB objective and closed the day at 11398 clearly in a new imbalance with the singles of 11377 to 11340 being the immediate reference for the next session.

Click here to view the latest profile of NF in MP Lite

  • The NF Open was a Open Auction (OA)
  • The Day type was a Double Distribution Trend Day – Up (DD)
  • Largest volume was traded at 11311 F
  • Vwap of the session was at 11335 with volumes of 109.2 L and range of 156 points as it made a High-Low of 11398-11262
  • NF confirmed a FA at 11397 on 14/08 and completed the 2 ATR objective of 11111 on the same day. This FA got revisited in ‘T+2’ days.
  • The settlement day Roll Over point (Aug) is 11095
  • The VWAP & POC of Jul Series is 10897 & 10803 respectively.
  • The VWAP & POC of Jun Series is 10110 & 10110 respectively.
  • The VWAP & POC of May Series is 9183 & 9109 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 11269-11311-11386

HVNs – 10918 / 10970 / 11095 / 11196 / 11310

Main Hypos for 19.08.2020:

a) NF needs to sustain above 11403 for a rise to 11427-442 / 11465-484 & 11503-541
b) The auction staying below 11385 could fall to 11360-335 / 11311-292 & 11273-250

Extended Hypos:
c) Above 11541, NF can probe higher to 11576-600 / 11631-640 & 11677-699
d) If 11250 is taken out, NF could fall to 11230*-205 / 11190-167 & 11148-103


BankNifty Aug F:  22198 [ 22273 / 21627 ]

Previous day’s report ended with this ‘Value for the day was lower but the volumes build up at 21600 suggests that the Friday’s sellers have booked and we have a 2-day composite DD profile in BNF also which shows that if 21600 is held, there could be a probable move towards the HVN of the upper distribution at 22192 which is also a VPOC in the coming session(s)

BNF opened above previous day’s Value but made a probe lower as it made a low right at the closing VWAP of 21627 which indicated that the yPOC of 21600 is being defended after which it went on to make a high of 21813 in the ‘A’ period but stayed inside this range in the ‘B’ period leaving tails at both ends suggesting some supply also coming in in the previous day’s selling tail. The auction then made a ‘C’ side RE making new highs of 21843 but could not extend further as it remained in the C period coiling in a range of 122 points for the next 5 periods building volumes at 21800 before it made a fresh RE in the ‘I’ period and continued to trend higher into the close as it tagged the VPOC of 22192 and even went on to test the PBH of 22280 from where it started the fall on Friday before closing the day at 22198.

Click here to view the latest profile chart of BNF in MP Lite

  • The BNF Open was a Open Auction In Range (OAIR)
  • The Day type was a Double Distribution Trend Day – Up (DD)
  • Largest volume was traded at 21800 F
  • Vwap of the session was at 21907 with volumes of 57.6 L and range of 646 points as it made a High-Low of 22273-21627
  • The settlement day Roll Over point (Aug) is 21615
  • The VWAP & POC of Jul Series is 22163 & 22087 respectively.
  • The VWAP & POC of Jun Series is 20918 & 21000 respectively.
  • The VWAP & POC of May Series is 18767 & 19633 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 21648-21800-22095

HVNs – 21545 / 21615 / 22188

Main Hypos for 19.08.2020:

a) BNF needs to sustain above 22218 for a rise to 22283-320 / 22400-458 / 22550-600 & 22710
b) The auction accepting below 22140 could test 22078-036 / 21960-930 / 21855-800 & 21740-660

Extended Hypos:

c) Above 22710, BNF can probe higher to 22829-885 / 22930 / 23000 & 23120-230
d) Breaking below 21660, it could fall to 21600-540 / 21499-425 / 21312-245 & 21183-138

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