Market Profile Analysis dated 20th November 2020

Nifty Nov F:  12871 [ 12910 / 12744 ]

NF opened in the NeuX zone of 12753 to 12860 but was unable to get above it as it made a typical C side extension getting rejected at 12849 which triggered a move lower resulting in couple of REs (Range Extension) in the D & E periods confirming a FA at top as the auction probed below PDL (Previous Day Low) but did not sustain indicating fresh demand coming in which led to a fresh probe higher as NF not only got back above VWAP but went on negate the FA as it left an extension handle at 12849 and made multiple REs on the upside completing the 2 IB target of 12910 before closing the day at 12871 leaving a hat-trick of Neutral profiles on the daily.

Click here to view yet another Neutral profile in NF on MPLite

  • The NF Open was a Open Auction In Range (OAIR)
  • The Day type was a Neutral Day (NeuD)
  • Largest volume was traded at 12810 F
  • Vwap of the session was at 12819 with volumes of 121.5 L and range of 165 points as it made a High-Low of 12910-12744
  • NF confirmed a FA at 12976 on 19/11 and tagged the 1 ATR objective of 12818 on the same day. The 2 ATR target comes to 12661.
  • NF confirmed a FA at 11744 on 04/11 and tagged the 2 ATR objective of 12089 on 05/11. This FA has not been tagged and is now positional support.
  • The settlement day Roll Over point (Nov) is 11665
  • The VWAP & POC of Oct Series is 11793 & 11897 respectively.
  • The VWAP & POC of Sep Series is 11353 & 11560 respectively.
  • The VWAP & POC of Aug Series is 11311 & 11311 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 12746-12810-12842

HVNs – 11740 / 11819 / 12703* / 12865 (* denotes current series POC)


BankNifty Nov F:  29245 [ 29412 / 28562 ]

BNF continued the probe lower after making a high of 29090 in the opening minutes as it went on to accept below the FA of 28707 and even made couple of REs lower to tag 28562 in the ‘E’ period but the shifting of the dPOC lower meant that the shorts have booked out and this led to a bounce in the second half of the day as the auction went on to make multiple REs on the upside as it tagged 29412 before closing the day at 29245 leaving a Neutral profile. Value for the day was completely lower but BNF has left 3 HVNs at 28650, 28950 & 29250 which would be the references for the coming session.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auction (OA)
  • The Day type was a Neutral Day (NeuD)
  • Largest volume was traded at 28950 F
  • Vwap of the session was at 28941 with volumes of 99.9 L and range of 850 points as it made a High-Low of 29412-28562
  • BNF confirmed a FA at 28707 on 17/11 and tagged the 1 ATR objective of 29400 on 18/11. This FA was revisited on 20/11 which was the ‘T+3’ Day.
  • The settlement day Roll Over point (Nov) is 24110
  • The VWAP & POC of Oct Series is 23740 & 24468 respectively.
  • The VWAP & POC of Sep Series is 22320 & 22320 respectively.
  • The VWAP & POC of Aug Series is 22444 & 21595 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 28800-28950-29034

HVNs – 24110 / 25455 / 26300 / 28395 / 28860*    (* denotes current series POC)

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