Market Profile Analysis dated 20th Mar

Nifty Mar F:

Neutral Extreme Days are known not to give any follow through in the next session & today’s open confirmed that stat once again as NF gave yet another OAIR (Open Auction In Range) start just below the yPOC & HVN of 11574 and was not able to get above it and therefore probed lower and went below the Neutral Extreme reference of 11559 as it made a low of 11543 from where it gave a bounce and went on to scale above the opening high as it made a new high of 11580 but was not able to get above PDH indicating that if could be a range bound day. (Click here to view the profile chart for better understanding) The next 3 periods ‘C’, ‘D’ & ‘E’ were all inside the range of ‘B’ displaying poor trade facilitation though the auction stayed above VWAP and once it was broken in the ‘F’ period, the auction gave a range expansion to the downside as NF got below IBL in the ‘G’ period to make a new low of 11533 but was swiftly rejected back into the IB. The auction probed higher in the ‘H’ period to tag VWAP but got resisted there after which the ‘I’ period made a lower high & lower low to suggest that there could be one more probe to the downside. It was not to be as ‘J’ period opened much above the lows of ‘I’ & probed higher and even got above VWAP making a high of 11572 but again was not able to get above that HVN of 11574. This inability of the auction to push further on both sides clearly meant that it was only the locals who were in play and NF just balanced in the remaining 3 periods rotating around VWAP and building volumes around the 11550 zone to give a Gaussian profile and a Normal day with the lowest range in 7 months of just 46 points setting up for a big move in the next session. Value for the day was higher so the PLR (Path of Least Resistance) is still on the upside with a possible multi-day FA at lows.

Nf Compo1 12 Market Profile Analysis Dated 20Th Mar Banknifty Futures, Charts, Day Trading, Intraday Trading, Intraday Trading Strategies, Market Profile, Market Profile Trading Strategies, Nifty Futures, Order Flow Analysis, Support And Resistance, Technical Analysis, Trading Strategies, Volume Profile Trading

  • The NF Open was a Open Auction in Range (OAIR)
  • The day type was a Normal Day (Gaussian Profile)
  • Largest volume was traded at 11552 F
  • Vwap of the session was at 11560 with volumes of 77.6 L in a session which traded a High-Low range of 11580-11533 for a range of 106 points
  • NF confirmed a FA at 11475 on 19/03 and tagged the 1 ATR of 11580. The 2 ATR target from the FA comes to 11685
  • The Trend Day VWAP & POC of 11/03 at 11165 & 11170 will now be the immediate support levels for the series.
  • The Trend Day VWAP & POC of 05/03 at 10946 & 10934 will be important levels for the series.
  • The VWAP & POC of Feb Series is 10830 & 10856 respectively.
  • The VWAP & POC of Jan Series is 10795 & 10823 respectively.
  • The VWAP & POC of Dec Series is 10796 & 10741 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 11550-11552-11568

Hypos / Estimates for the next session:

a) Staying above 11555 at open, NF can probe higher to 11572-581 and 11599
b) Below 11550-545, the auction can move lower to 11533-520 and 11505
c) Above 11599, higher levels of 11615 and 11628-633 could be expected
d) Below 11505, NF can go down to 11490 and 11475-472
e) Sustaining above 11633, NF can tag 11649-655 and 11673-685
f) NF would get weak below 11472 for immediate levels of 11457 and 11439-436


BankNifty Mar F:

Bnf Compo1 12 Market Profile Analysis Dated 20Th Mar Banknifty Futures, Charts, Day Trading, Intraday Trading, Intraday Trading Strategies, Market Profile, Market Profile Trading Strategies, Nifty Futures, Order Flow Analysis, Support And Resistance, Technical Analysis, Trading Strategies, Volume Profile Trading

BNF also gave yet another OAIR start opening in yesterday’s Value but below the yPOC of 29848 which was the level to watch at open and the auction then probed lower tagging the yVAL and pull back low as it made a low of 29704 in the ‘A’ period but the move below yVAL was met with swift rejection after which BNF probed to the upside even scaling above the morning highs as it made a new high of 29844 but was still unable to get above the yPOC of 29848 leaving a relatively smaller IB. (Click here to view the profile chart for better understanding) BNF then balanced in a narrow range staying inside the range of ‘B’ for the next 3.5 hours (till the ‘I’ period) making a small ‘p’ profile inside previous day’s Value. The auction then finally saw a range extension in the ‘J’ period as BNF probed above the IBH & the yPOC and trended higher scaling above PDH as it made a high of 29946 to tag the 1 ATR from yesterday’s FA of 29585. The ‘K’ period saw BNF making a higher high at 29986 which also marked the 2 IB range extension and also the completion of the upside move for the day as the remaining 2 periods ‘L’ & ‘M’ stayed inside the ‘K’ period to confirm the spike from 29844 to 29986. The Value for the day was overlapping to higher & spike rules will come into play in the next session.

  • The BNF Open Open was a Open Auction in Range (OAIR)
  • The day type was a Normal Variation Day – Up (‘p’ profile plus spike)
  • Largest volume was traded at 29920 F
  • Vwap of the session was at 29828 with volumes at 24.6 L in a session which traded a High-Low range of 29986-29704 for a range of 282 points
  • BNF confirmed a FA at 29585 on 19/03 and tagged the the 1 ATR target of 29944 today. The 2 ATR target comes to 30302.
  • The Trend Day VWAP of 05/03 of 27380 will be important level for the series.
  • The VWAP & POC of Feb Series 27042 & 26978 respectively
  • The VWAP & POC of Jan Series 27236 & 27514 respectively
  • The VWAP & POC of Dec Series 26713 & 26832 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 29780-29920-29970

Hypos / Estimates for the next session:

a) BNF has immediate support at 29920-900 below which it can probe lower to 29844-828 and 29778-749
b) Staying above 29920, BNF probe higher to tag 30000 & 30101-126
c) Below 29745, BNF can test to 29700-660 & 29585
d) Above 30126, BNF can continue its parabolic run to the upside and could bring 30355
e) Below 29585, BNF could move lower to 29500 & 29433

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