Market Profile Analysis dated 18th December 2020

Nifty Dec F:  13774 [ 13799 / 13681 ]

NF made an Open Drive Down on good volumes negating previous day’s buying tail as it made a low of 13681 in the IB taking support just above the extension handle of 13679 leaving singles at both ends. The auction then balanced in a narrow range of 40 points forming a ‘b’ shape profile for the first half of the day before getting into the selling tail of the IB from the ‘I’ period onwards as it went on to make a trending move higher into the close as it hit new highs for the series at 13799 before closing the day around the dPOC of 13776. NF has left an outside day both in terms of Value & Range leaving a 2-day composite at 13726-13750-13789 and it could continue this balance in the coming session(s) unless it gets some initiative volumes enabling a move away from here.

Click here to view NF form a 2-day balance on MPLite

  • The NF Open was a Open Drive – Down (OD)
  • The Day type was a Normal Day (N)
  • Largest volume was traded at 13776 F
  • Vwap of the session was at 13743 with volumes of 90.6 L and range of 118 points as it made a High-Low of 13799-13681
  • NF confirmed a FA at 13619 on 16/12 and tagged the 1 ATR objective of 13769 on 17/12. The 2 ATR target comes to 13919.
  • The settlement day Roll Over point (Dec) is 12974
  • The VWAP & POC of Nov Series is 12554 & 12862 respectively.
  • The VWAP & POC of Oct Series is 11793 & 11897 respectively.
  • The VWAP & POC of Sep Series is 11353 & 11560 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 13719-13776-13791

HVNs – 13020 / 13084 / 13190 / 13440 / 13570*


BankNifty Dec F:  30736 [ 30865 / 30380 ]

BNF made an OTD (Open Test Drive) Down on big volumes as it failed to get above the composite VAH of 30876 and completed the 80% Rule on the downside in the ‘A’ period itself and continued to trend lower in the IB as it made a low of 30380 leaving the series’s biggest IB range of 470 points. A large IB range generally leads to a Normal Day as the auction left a tail at lows from 30466 to 30380 and got back into the 7-day composite VAL of 30511 triggering the 80% Rule on the upside as it went on to make a spike higher in the ‘J’ & ‘K’ periods as BNF made new highs for the day at 30865 but could not sustain above the IBH giving a retracement to 30675 into the close before closing the day at 30735. The failed attempt to move away from the 7-day composite even on the downside means that the balance mode is still on with the Value of the 8-day composite now at 30518-30813-30868.

Click here to view the 8-day composite in BNF on MPLite

  • The BNF Open was a Open Test Drive – Down (OTD)
  • The Day type was a Normal Day (N)
  • Largest volume was traded at 30689 F
  • Vwap of the session was at 30621 with volumes of 51.2 L and range of 485 points as it made a High-Low of 30865-30380
  • BNF confirmed a FA at 30021 on 07/12 and tagged the 1 ATR objective of 30660 on 09/12. The 2 ATR target comes to 31298. This FA has not been tagged and is now positional support.
  • BNF confirmed a FA at 29000 on 26/11 and tagged the 2 ATR objective of 30355 on 07/12. This FA has not been tagged and is now positional support.
  • The settlement day Roll Over point (Dec) is 29629
  • The VWAP & POC of Nov Series is 28104 & 29565 respectively.
  • The VWAP & POC of Oct Series is 23740 & 24468 respectively.
  • The VWAP & POC of Sep Series is 22320 & 22320 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 30451-30689-30850

HVNs – 29650 / 30100 / 30300 / 30798*

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