Market Profile Analysis dated 19th January 2021

Nifty Jan F:  14570 [ 14586 / 14364 ]

NF opened with a big gap up of almost 100 points way above the yPOC of 14310 negating the fall of the previous day as it stayed above Value & went on to scale above the PBH (Pull Back High) of 14428 in the IB. The auction then made a rare C side extension higher which was accepted as it tagged the 15th Jan VPOC of 14460 and made new highs of 14485 in the ‘D’ period stalling just below Friday’s VWAP of 14495 which led to a small retracement in the ‘E’ period as NF left a PBL at 14447 just above the IBH which was an indication that the PLR for the day was firmly to the upside. The rest of the day unfolded as a classic Trend Day with an OTF (One Time Frame) probe higher into the close as it hit 14586 with just one small pullback in the ‘H’ period as the auction left the second PBL of the day at 14483 before closing the day at 14570 where the day’s POC also shifted. The shifting of POC to the top implies that the longs have booked profits and NF would need fresh buying to continue the probe higher with the extension handle of 14548 being the immediate reference below which the all important level to watch would be today’s VWAP & PBL of 14483 in the coming session(s).

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction In Range (OAIR)
  • The Day type was a Trend Day – Up (TD)
  • Largest volume was traded at 14570 F
  • Vwap of the session was at 14482 with volumes of 109.9 L and range of 222 points as it made a High-Low of 14586-14364
  • NF confirmed a FA at 14077 on 05/01 and tagged the 2 ATR objective of 14413 on 11/01. This FA has not been tagged and is now positional support.
  • The settlement day Roll Over point (Jan) is 14007
  • The VWAP & POC of Dec Series is 13528 & 13528 respectively.
  • The VWAP & POC of Nov Series is 12554 & 12862 respectively.
  • The VWAP & POC of Oct Series is 11793 & 11897 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 14439-14570-14583

HVNs – 13970 / 14040 / 14120 / 14220 / 14460* / 14594


BankNifty Jan F:  32521 [ 32570 / 31919 ]

BNF also opened with a big gap up of 270 points rejecting the spike lower of previous day which was as good as a buying tail in today’s context after which it went on to fill up yesterday’s low volume zone from 32040 to 32150 forming a nice balance before giving an extension handle at 32190 in the ‘F’ period after which it trended higher for the rest of the day leaving another extension handle at 32370 and making a high of 32570 falling just short of the 3 IB objective of 32599. Similar to NF, the dPOC in BNF also shifted higher into the close to 32534 indicating profit booking and has formed overlapping Value over the last 3 days leaving a 3-day composite at 32051-32277-32442 which would be the reference for the next session. Staying above this Value, the auction could probe higher towards the 14th Jan VPOC of 32700 and even make new highs for the series but acceptance below 32440 could trigger the 80% Rule and could test 32277 & 32050.

Click here to view the 3-day composite in BNF on MPLite

  • 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 32534 F
  • Vwap of the session was at 32240 with volumes of 44.4 L and range of 651 points as it made a High-Low of 32570-31919
  • The settlement day Roll Over point (Jan) is 31389
  • The VWAP & POC of Dec Series is 30270 & 30766 respectively.
  • The VWAP & POC of Nov Series is 28104 & 29565 respectively.
  • The VWAP & POC of Oct Series is 23740 & 24468 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 32122-32534-32569

HVNs – 31410 / 31900 / 32149* / 32406 / 32686

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