Market Profile Analysis dated 20th July 2020

Nifty Jul F:  11008 [ 11022 / 10921 ]

HVNs – 10190 / 10293 / 10475 / 10570 / 10728 / 10764

Previous day’s report ended with this ‘For the second day running, Spike Rules will be in play at open and the reference would be from 10893 to 10933

NF not only accepted the spike but opened higher & remained above the spike zone in the IB (Initial Balance) as it made a low of 10931 and went on to make new highs for the series at 10987. The auction however remained in this narrow IB range of just 57 points till the ‘H’ period forming a nice balance along with a slow probe. Things changed in the action packed ‘I’ period as NF started with a failed attempt to probe higher where it was swiftly rejected from 10996 triggering a quick liquidation move of 75 points in the next few minutes as it made new lows for the day at 10921 but this attempt to extend the range also was met with rejection indicating that this move was to remove the weak longs. The auction then went on to make a fresh RE higher in the ‘J’ period confirming a FA (Failed Auction) at 10921 and went on to make new highs of 11022 before closing the day at 11008 leaving a Neutral Exteme profile. The reference for the next open would be 10987 to 11022.

Click here to view the MP Lite chart of the latest profile of NF

  • The NF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Neutral Extreme Day – Up (NeuX)
  • Largest volume was traded at 10967 F
  • Vwap of the session was at 10973 with volumes of 117.5 L and range of 102 points as it made a High-Low of 11022-10921
  • NF confirmed a FA at 10921 on 20/07 and the 1 ATR objective comes to 11072.
  • NF confirmed a multi-day FA at 10533 on 06/07 and tagged the 1 ATR objective of 10742 on 06/07. The 2 ATR target is at 10950. This FA has not been tagged and is now positional support.
  • NF confirmed a FA at 10440 on 02/07 and tagged the 2 ATR objective of 10868 on 13/07. This FA has not been tagged and is now positional support.
  • NF confirmed a FA at 10172 on 29/06 and and the tagged the 2 ATR target of 10619 on 06/07. This FA has not been tagged and is now positional support.
  • The 18th June & 01st July Trend Day VWAPs of of 9957 & 10350  would be important support levels.
  • The settlement day Roll Over point (Jul) is 10240
  • The VWAP & POC of Jun Series is 10110 & 10110 respectively.
  • The VWAP & POC of May Series is 9183 & 9109 respectively.
  • The VWAP & POC of Apr Series is 8999 & 9010 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 10960-10967-11013

Main Hypos for 21.07.2020:

a) NF needs to scale above 11013 & sustain for a rise to 11055-72 / 11097-114 & 11133-165
b)The auction below 11004 can test lower levels of 10987-960 / 10940-913 & 10896-872

Extended Hypos:
c) Above 11165, NF can probe higher to 11195-222 / 11241-280 & 11304
d) If 10872 is taken out, NF could fall to 10834-810 / 10798-769* & 10739-713


BankNifty Jul F: 22287 [ 22474 / 22122 ]
HVNs – 21000 / 21345 / 21430 / / 21723 / 21840 / 22180 / 22720 / 22806

Click here to view the MP Lite chart of the latest profile of BNF

Previous day’s report ended with this ‘Spike Rule will once again be in play for the next open and the reference is 21964 to 22081

BNF also opened higher as it made a low of 22122 at open accepting the spike of Friday and went on to test the selling extension handle of 22430 it had left on 13th July stalling there after making a high of 22474 in the IB and remained in this narrow range of 352 points all day forming a nice Gaussian profile with a prominent POC at 22340 leaving a Normal Day. Value was completely higher so the PLR for the auction remains to the upside but would need a move away from today’s prominent POC.

  • The BNF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Normal Day (Gaussian Profile)
  • Largest volume was traded at 22340 F
  • Vwap of the session was at 22330 with volumes of 68.1 L and range of 352 points as it made a High-Low of 22474-22122
  • BNF confirmed a FA at 20901 on 29/06 and the tagged the 2 ATR target of 22625 on 07/07. This FA has not been tagged and is now positional support.
  • The 18th June & 01st July Trend Day VWAPs of 20494 & 21650 would be important support levels.
  • The settlement day Roll Over point (Jul) is 21430
  • The VWAP & POC of Jun Series is 20918 & 21000 respectively.
  • The VWAP & POC of May Series is 18767 & 19633 respectively.
  • The VWAP & POC of Apr Series is 19605 & 19710 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 22278-22340-22415

Main Hypos for 21.07.2020:

a) BNF needs to sustain above 22340 for a rise to 22415-475 / 22543-580 / 22650-675 / 22740 & 22826-862
b) The auction accepting below 22278 could test 22231-170 / 22107-080 / 21980-930 / 21885-827 & 21770-723*

Extended Hypos:

c) Above 22862, BNF can probe higher to 22922-980 / 23100 / 23160*-230 & 23313-370
d) Breaking below 21723, there could be a fall to 21645 / 21570-514 / 21450-418 / 21360-300* & 21240-210

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