Market Profile Analysis dated 19th April 2021

Nifty Apr F:  14374 [ 14409 / 14213 ]

NF opened with a huge gap down of 247 points and continued to probe lower as it broke below previous week’s low of 14282 and went on to make a low of 14213 tagging the buying extension handle of 1st Feb (Budget Day) leaving a large range of 186 points in the IB (Initial Balance). The auction then remained largely in this IB range making a slow probe to the upside for the rest of the day and even made a RE (Range Extension) attempt in the ‘J’ period where it made new highs for the day at 14409 but was immediately rejected back triggering a move back to the day’s VWAP in the ‘L’ period before closing the day around the dPOC of 14380 which had shifted higher. Value for the day was completely lower due to the gap hence the PLR (Path of Least Resistance) is now to the downside and we have a big selling tail from 14399 to 14646 on the upside and on the downside, today’s PBLs(Pull Back Low) of 14312 & 14266 would be the levels to watch in the next session.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction Out of Range plus Drive Down (OAOR + D)
  • The Day type was a Normal Day
  • Largest volume was traded at 14380 F
  • Vwap of the session was at 14316 with volumes of 145.4 L and range of 196 points as it made a High-Low of 14409-14213
  • The settlement day Roll Over point (Apr) is 14425
  • The VWAP & POC of Mar Series is 14816 & 14737 respectively.
  • The VWAP & POC of Feb Series is 14893 & 15115 respectively.
  • The VWAP & POC of Jan Series is 14288 & 14569 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 14283-14380-14385

HVNs – 14420 / 14621 / 14825* / 14906 / 14975


BankNifty Apr F:  31239 [ 31337 / 30451 ]

The narrow range and contraction of previous day led to an imbalance in BNF also as it not only opened with a gap down of 970 points but went on to break below previous week’s low of 30610 and January’s last week’s VPOC of 30550 while making a low of 30472 in the A period. The auction then made marginal new lows of 30451 in the ‘B’ period and the inability to extend further indicated that the supply was all booking out and similar to NF, there was a slow probe higher for the rest of the day in BNF also but the difference was the spike higher into the close as it made new highs for the day at 31337 closing the day as a Normal Day with completely lower Value. Spike Rules will be in play for the next open and the zone to watch is 31200 to 31337 with today’s PBLs of 30866 & 30567 being the references on the downside whereas on the upside there is a mountain to climb in the form of selling singles till 32075.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auction Out of Range plus Drive Down (OAOR + D)
  • The Day type was a Normal Day (with a Spike close)
  • Largest volume was traded at 30806 F
  • Vwap of the session was at 30815 with volumes of 60.2 L and range of 886 points as it made a High-Low of 31337-30451
  • The settlement day Roll Over point (Apr) is 33250
  • The VWAP & POC of Mar Series is 34618 & 33870 respectively.
  • The VWAP & POC of Feb Series is 35530 & 35820 respectively.
  • The VWAP & POC of Jan Series is 31597 & 32062 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 30478-30806-30895

HVNs – 32615 / 33250 / 33433 */ 34050

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