Market Profile Analysis dated 19th June 2020

Nifty Jun F: 10235 [ 10252 / 10051 ]
HVNs – 9093 / 9275 / 9433 / 9785 / 9894 / 10064 / 10094 / 10140 / 10260

Previous day’s report ended with this ‘The profile has couple of extension handles at 9980 & 10008 plus a spike close of 10032 to 10104 and the spike rules will be in play for the next open

NF opened in the spike & got accpeted in it which was a signal that the initiative buyers of previous day were still present as the auction probed higher making multiple Range Extensions as it went on to tag the weekly HVN of 10142 and closed in yet another spike of 10214 to 10252 almost tagging the VPOC of 10256. Spike Rules will once again be in play for the next open.

  • The NF Open was a Open Auction (OA)
  • The day type was a Normal Variation Day with a spike close
  • Largest volume was traded at 10230 F
  • Vwap of the session was at 10144 with volumes of 176.1 L and range of 201 points as it made a High-Low of 10252-10021
  • The 27th May Trend Day VWAP of 9165 would be important support level.
  • The settlement day Roll Over point (Jun) is 9426
  • The VWAP & POC of May Series is 9183 & 9109 respectively.
  • The VWAP & POC of Apr Series is 8999 & 9010 respectively.
  • The VWAP & POC of Mar Series is 9146 & 8592 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 10080-10175-10194

Main Hypos for the next session:

a) NF has supply at 10248 above which it could rise to 10295-320 / 10350-375 / 10410-419 & 10440-455
b) The auction staying below 10230 can test lower levels of 10194-175 / 10156-140 / 10112 / 10090-070 & 10032-014

Extended Hypos:
c) Above 10455, NF can probe higher to 10509-544* / 10595-615 & 10655-662
d) If 10014 is taken out, NF could fall to 9980 / 9955-30 / 9894*-68 / 9847-10 & 9795-80


BankNifty Jun F:  21309 [ 21464 / 20826 ]

HVNs – 17800 / 19000 / 19186 / 19870 / 19980 / 20380 / 20750 / 20874 / 21000 / 21084 / (21400) / (21540)

BNF also opened in the spike zone of previous day where it took support and continued the probe higher as it went on to tag the VPOC of 21420 while making highs of 21464 but got new supply coming in here as it left a small selling tail from 21399 to 21464 and gave a retracement to 20972 before closing at the DPOC of 21300 leaving a balanced profile with higher Value as it confirmed the move away from the old 5 day composite. The auction would need to get accepted above 21300 to continue the probe towards the next VPOC of 21520 & above it the series high of 21775 above which it could go for the 1 ATR target of 22315 from the weekly FA of 19435 (Check the weekly report here).

  • The BNF Open was a Open Auction (OA)
  • The day type was a Normal Variation Day
  • Largest volume was traded at 21300 F
  • Vwap of the session was at 21167 with volumes of 85.1 L and range of 638 points as it made a High-Low of 21464-20826
  • The 27th May Trend Day VWAP of 18138 would be important support level.
  • The settlement day Roll Over point (Jun) is 19035
  • The VWAP & POC of May Series is 18767 & 19633 respectively.
  • The VWAP & POC of Apr Series is 19605 & 19710 respectively.
  • The VWAP & POC of Mar Series is 22104 & 20248 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 21092-21300-21375

Main Hypos for the next session:

a) BNF needs to get above supply of 21375-399 for a rise to 21520* / 21648-695 / 21785-888 / 21932-22000 & 22110-200
b) Staying below 21300, the auction could test 21160-093 / 21021-20972 / 20890-825 / 20710-600 & 20535-490

Extended Hypos:
c) If 22200 is taken out, BNF could start a fresh probe to 22315 / 22423-560 / 22650 / 22720-780 & 22880-920
d) Breaking below 20490, there could be a fall to 20400-300 / 20179-156 / 20080-040 / 19975-910 & 19850-725

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