Market Profile Analysis dated 20th January 2021

Nifty Jan F:  14645 [ 14670 / 14524 ]

NF opened around the yPOC of 14570 and probed lower breaking below the extension handle of 14548 as it made a low of 14524 where it got rejected reversing the probe to the upside forming new highs for the week at 14592 in the A period but once again was swiftly rejected leading to a narrow range inside bar in the ‘B’ period but also confirmed a buying tail from 14559 to 14524 in the IB which meant that the PLR remained to the upside. The auction then made a big RE (Range Extension) in the C period and followed it up with couple of more smaller REs over the next 2 periods as it tagged the VPOC of 14626 while making a high of 14633 in the ‘E’ period from where it gave a retracement to the day’s VWAP leaving a PBL (Pull Back Low) at 14580 in the ‘G’ period and the successful test of the VWAP meant that the buyers were still in the drivers seat. NF then started a fresh OTF (One Time Frame) move higher over the next 5 periods as it made fresh REs higher from the I period onwards and went on to make new highs for the series at 14670 in the ‘L’ period completing the 2 IB objective for the day and saw good profit booking coming in as it closed the day at 14645 leaving a ‘p’ shape profile for the day with completely higher Value. For the coming session, the auction would need to stay above the dPOC of 14633 and get fresh buying above 14670 to continue higher and on the downside, 14580 would be the important level to watch below 14630.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction (OA)
  • The Day type was a Normal Variation Day – Up (‘p’ profile)
  • Largest volume was traded at 14633 F
  • Vwap of the session was at 14607 with volumes of 88.5 L and range of 146 points as it made a High-Low of 14670-14524
  • 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 14570-14633-14648

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


BankNifty Jan F:  32585 [ 32665 / 32354 ]

BNF not only opened lower but continued to probe down as it made a low of 32354 but attracted demand near previous day’s extension handle of 32370 as it left a small buying tail in the IB from 32437 to 32354 setting up multiple REs over the next 3 periods as it hit new highs for the week at 32649 completing the 1.5 IB objective for the day which led to a round of profit booking as the auction retraced the entire move higher and went on to test the morning tail in the ‘G’ & ‘H’ periods where it took support leaving a PBL at 32412. The morning singles being defended then led to a fresh leg to the upside as BNF went on to make new highs for the day at 32665 in the K period before closing around the DPOC of 32565 leaving a narrow range ‘p’ shape profile for the day with completely higher Value with respect to the 3-day composite it had formed.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Variation Day – Up (‘p’ profile)
  • Largest volume was traded at 32565 F
  • Vwap of the session was at 32532 with volumes of 37.5 L and range of 311 points as it made a High-Low of 32665-32354
  • 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 32480-32565-32634

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

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