Market Profile Analysis dated 18th November

Market Profile Analysis dated 18th November 1

Nifty Nov F: 11921 [ 11958 / 11890 ]

HVNs – 11667 / 11760 / 11814 / 11901 / 11920 / 11980

NF seemed to give a move away from the yPOC of 11937 to the downside at open in spite of an OAIR (Open Auction In Range) start as it negated the Friday’s buying tail of 11928 to 11913 while making lows of 11903 in the ‘A’ period where it seemed to have got some demand as the auction began to coil making a narrow range till the ‘D’ period as it stayed within the range of ‘A’. The ‘E’ period then made a RE (Range Extension) to the downside as it made lows of 11890 but got stalled exactly at the VAL of the 3-week composite (mentioned in the weekly report) plus could not tag the 1.5 IB extension lower even after staying below IBL for more than 30 mins which were strong signals that the sellers were not doing a good job. NF then made a slow probe up to VWAP and even got into the morning selling tail of 11933 to 11958 in the ‘H’ period but was swiftly rejected as it left a PBH (Pull Back High) at 11939 to make another trip to 11901 where it was once again defended by buyers after which closed at the dPOC of 11920 to leave a small ‘b’ shape profile on the daily with lower but contracting Value. NF has been in a range since the start of this new series & is right now forming a nice Gaussian profile on a 13-Day composite starting from 30th Oct with the composite Value at 11885-11918-11997 and is looking good to move away from this balance in the coming session(s).

(Click here to view the Gaussian composite from 30th Oct to 18th Nov in NF)

Market Profile Analysis dated 18th November 2

  • The NF Open was an Open Auction In Range (OAIR)
  • The day type was a Normal Variation Day (Down) ‘b’ shape profile
  • Largest volume was traded at 11920 F
  • Vwap of the session was at 11918 with volumes of 63.7 L and range of 68 points as it made a High-Low of 11958-11913
  • NF confirmed a multi-day FA at 11465 on 16/10 and completed the 2 ATR move up of 11776. This FA has not been tagged since & hence is now positional support
  • NF confirmed a FA at 11503 on 17/10 and completed the 2 ATR move up of 11808. This FA has not been tagged since & hence is now positional support
  • NF confirmed a FA at 11162 on 09/10 and completed the 2 ATR move up of 11554.  This FA has not been tagged since & hence is now positional support
  • The Trend Day VWAP of 29/10 at 11810 will be important reference on the downside.
  • The settlement day Roll Over point (Nov) is 11970
  • The VWAP & POC of Oct Series is 11461 & 11365 respectively.
  • The VWAP & POC of Sep Series is 11127 & 10960 respectively.
  • The VWAP & POC of Aug Series is 10966 & 10984 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 11906-11920-11931

Hypos / Estimates for the next session:

a) NF has immediate supply at 11935-939 above which it could rise to 11956-982 / 12003-10 & 12027-50
b) Staying below 11920 at open, the auction could tag 11901-898 / 11880-860 & 11846-833
c) Above 12050, NF can probe higher to 12064-80 / 12112 & 12133-148
d) Below 11833, auction becomes weak for 11816-810 / 11795 / *11771-767* & 11749-734
e) If 12148 is taken out, the auction go up to to 12166 / 12185-199 & 12226-236
f) Break of 11734 can trigger a move lower to 11716-709 / *11689-667* & 11645


BankNifty Nov F: 31018 [ 31182 / 30900]

HVNs – 30075 / 30150 / 30288 / 30400 / 30690 / 30760 / 30990-31010

Market Profile Analysis dated 18th November 3

BNF made an inside bar both in terms of range & Value making a second consecutive narrow range day and forming a nice 2-day Gaussian profile with the FA of 30860 still intact. The auction has closed around the prominent POC of 31019 and has a good chance of giving an initiative move away from here in the next session for a probe towards 30335 or 31384.

(Click here to view the 2-day composite Bell Curve in BNF)

  • The BNF Open was an Open Auction In Range (OAIR)
  • The day type was a Normal Variation Day – Down
  • Largest volume was traded at 31010 F
  • Vwap of the session was at 31017 with volumes of 26.1 L and range of 282 points as it made a High-Low of 31182-30900
  • BNF confirmed a fresh FA at 30052 on 06/11 and tagged the 2 ATR target of 31049 on 08/11. This FA has not been tagged since & hence is now positional support
  • BNF confirmed a FA at 27900 on 09/10 and completed the 2 ATR move up of 29779. This FA has not been tagged since & hence is now positional support
  • The Trend Day VWAP of 06/11 at 30447 will be important reference on the downside.
  • The Trend Day VWAP of 29/10 at 29945 will be important reference on the downside. This was tagged on 30/10 and broken but was swiftly rejected so proves to be support.
  • The old Trend Day VWAP of 08/07 at 30995  is no longer valid reference now as BNF closed below this on 13/11
  • The settlement day Roll Over point (Nov) is 30150
  • The VWAP & POC of Oct Series is 28784 & 28415 respectively.
  • The VWAP & POC of Sep Series is 28416 & 27160 respectively.
  • The VWAP & POC of August Series 27858 & 27960 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 30960-31010-31066

Hypos / Estimates for the next session:

a) BNF needs to sustain above 31020-48 for a rise to 31105-125 / 31185-209 / 31255 & 31310-326
b) Immediate support is at 30990-976 below which the auction could test 30925-920 / 30880-860 / 30770-750* & 30686-658
c) Above 31326, BNF can probe higher to 31386-395 / 31417-440 / 31490 & 31560
d) Below 30658, lower levels of 30585-580 / 30540 & 30500-460
e) If 31560 is taken out, BNF can give a fresh move up to 31618-640 / 31680 & 31727-740
f) Below 30460, we could see lower levels of 30375-370 / 30310-281 & 30225-190

Additional Hypos

g) Above 31740, higher levels of 31784*-803 / 31875 & 31929-949 could get tagged
h) Break of 30190 could trigger a move down to 30150-131 / 30072-50 & 29995-945

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