Market Profile Analysis dated 20th April 2021

Nifty Apr F:  14296 [ 14535 / 14225 ]

NF opened with a big gap up of 128 points into that initiative tail of 14399 to 14645 but got rejected from 14535 as it left a small selling tail in the IB (Initial Balance) and made a OTF (One Time Frame) probe lower all day leaving couple of extension handles at 14457 & 14352 and not only completed the 3 IB objective of 14312 in the ‘L’ period but went on to make a low of 14225 stopping just above PDL (Previous Day Low) which saw good profit booking by the sellers triggering a small bounce to 14323 into the close as the dPOC for the day also shifted lower to 14302 leaving a Trend Day Down. Value for the day was overlapping on both sides but the rejection from 14535 and the Trend Day means the PLR (Path of Least Resistance) is firmly to the downside with today’s VWAP of 14393 & the late afternoon PBH (Pull Back High) of 14412 being the important references on the upside for the next session whereas on the downside, we have a buying tail from 14283 to 14225 which needs to be negated for a probe towards 14128 & 14000 in the coming session(s).

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Trend Day – Down (TD)
  • Largest volume was traded at 14302 F
  • Vwap of the session was at 14393 with volumes of 121.3 L and range of 310 points as it made a High-Low of 14535-14225
  • 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 14230-14302-14461

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


BankNifty Apr F:  31120 [ 31784 / 30917 ]

BNF opened with a gap up of 349 points well above the spike zone of 31200 to 31337 and continued to probe higher in the A period as it made a high of 31784 after which it broke below the day’s VWAP in the ‘B’ period but remained in the narrow IB range of 282 points till the ‘D’ period. The auction then made a RE lower in the ‘E’ period and as it often does in an OAOR start, made a fresh RE again in the ‘G’ period which led to the test of the spike low of 31200 in the ‘H’ period leading to a bounce to 31489 in the ‘I’ period but this rejection just below the IBH of 31502 meant that the sellers were still controlling the auction and more confirmation came in the ‘K’ period as BNF made new lows of 31057 and followed it up with lower lows of 30917 in the ‘L’ period which marked the 3 IB objective for the day and saw some profit booking happening as the auction left a late buying tail from 30917 to 31057 before closing the day at 31120. Value for the day was completely higher but the close was well below the Value hence BNF remains weak as long as it stays below the HVN of 31152 whereas on the upside, today’s VWAP of 31403 & the PBH of 31489 would remain the important references on watch.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Trend Day – Down (TD)
  • Largest volume was traded at 31361 F
  • Vwap of the session was at 31403 with volumes of 50.1 L and range of 867 points as it made a High-Low of 31784-30917
  • 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 31280-31361-31768

HVNs – 32615 / 33250 / 33433 */ 34050

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