Market Profile Analysis dated 1st November

Market Profile Analysis dated 1st November 1

Nifty Nov F: 11928 [ 11945/ 11878 ]

HVNs – 11667 / 11814 / 11860 / 11910-920 / (11936) / 11958 / (11970)

NF made a narrow range day of just 67 points to start the new series with a Gaussian profile as it stayed below the yPOC of 11958 but also did not find new selling below 11895 where it has left a probable multi-day FA which would get confirmed if the auction sustains above 11940 at open in the next session.

(Click here to view this week’s action in the Nov NF )

Market Profile Analysis dated 1st November 2

  • The NF Open was an Open Auction In Range (OAIR)
  • The day type was a Neutral Day
  • Largest volume was traded at 11920 F
  • Vwap of the session was at 11910 with volumes of 72.6 L and range of 67 points as it made a High-Low of 11945-11878
  • 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 11902-11920-11931

Hypos / Estimates for the next session:

a) NF has immediate supply at 11936 above which it could rise to 11958-964 / 11985 & 12003-23
b) Immediate support is at 11920 below which the auction could test 11901-895 / 11874-850 & 11832-829
c) Above 12023, NF can probe higher to 12045-56 / 12079-82 & 12098-105
d) Below 11829, auction becomes weak for 11810-795 / 11771-767 & 11749
e) If 12105 is taken out, the auction go up to to 12121-133 / 12151-165 & 12181-194
f) Break of 11749 can trigger a move lower to 11716-709 / 11689-667* & 11645


BankNifty Nov F: 30374 [ 30449 / 30063]

HVNs – 30075 / 30150 / 30285 / 30369 / 30430

(Click here to view this week’s action in the Nov BNF )

Market Profile Analysis dated 1st November 3

BNF made an inside bar on the daily as it formed a ‘p’ shape profile for the day with an overlapping POC of last 2 days at 30285 which will be the important reference for the next session as the auction could give a move away from this.

  • The BNF Open was an Open Auction In Range (OAIR)
  • The day type was a Normal Variation Day – Up
  • Largest volume was traded at 30285 F
  • Vwap of the session was at 30287 with volumes of 32.9 L and range of 386 points as it made a High-Low of 30449-30063
  • 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 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 higher Trend Day VWAP of 08/07 at 30995 remains important reference going forward
  • 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 30239-30285-30392

Hypos / Estimates for the next session:

a) BNF has immediate supply in zone of 30424-440 above which it could rise to 30495 / 30565-600 & 30725-750
b) Sustaining below 30350, the auction gets weak for a test of 30288 / 30227-213 / 30150 & 30105-075
c) Above 30750, BNF can probe higher to 30800 / 30895 & 30995-31005
d) Below 30075, lower levels of 30024-29995 / 29945 / 29880-855 & 29749
e) If 31005 is taken out, BNF can give a fresh move up to 31100-152 / 31210-260 & 31310
f) Break of 29749 could trigger a move down 29695 / 29635-628 / 29570-510 & 29460-435

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