Market Profile Analysis dated 21st Feb

Nifty Feb F:

NF opened within the spike of previous day and could not get above it in the ‘A’ period making a high of 10769 after which the auction probed lower in the ‘B’ period as it made a low of 10736 making a very narrow IB of just 32 points. (Click here to view the profile chart for better understanding) NF then made an inside bar in the ‘C’ period but managed to close above VWAP and the following ‘D’ period also stayed above VWAP though was stuck in just a 9 point range. Thus NF made a nice balance in the first half of the day inside the spike which meant that the spike was being accepted and this was a bullish signal and the same got confirmed when the ‘E’ period made a range extension to the upside leaving an extension handle at 10769 and made a high of 10797 almost tagging the 2 IB on the upside. The auction then balanced for the next 2 periods inside the ‘E’ period and the ‘G’ period left a pull back low at 10775 as NF went on to make another range extension higher in the ‘H’ period as it made a high of 10816. The next 3 periods made higher highs as NF completed the 3 IB extension of 10833 in the ‘K’ period after which it gave a retracement to VWAP leaving a pull back low of 10787 in the ‘L’ period before closing the day around the dPOC which had shifted to the uppermost quadrant of the profile. NF gave a Double Distribution Trend Day Up with an extension handle at 10769 which divides the upper & lower distributions. Value formed was completely higher so the PLR remains to be up.

Nf Compo1 15 Market Profile Analysis Dated 21St Feb 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 (in Spike)
  • The day type was a Double Distribution Day – Up 
  • Largest volume was traded at 10809 F
  • Vwap of the session was at 10785 with volumes of 85.7 L in a session which traded a High-Low range of 10833-10736 for a range of 96 points
  • NF confirmed a multi-day FA at 10946 on 12/02 and completed the 2 ATR move down of 10699. This FA has not been tagged and could now act as strong resistance
  • NF had left a FA at 10580 on 26/12 & completed the 2 ATR move up to 10862. This FA has not been tagged and is now strong support
  • The Trend Day VWAP & POC of 06/02 11046 & 11035 was broken on 08/02 and the closed below them so now they are no longer support levels
  • The Trend Day VWAP & POC of 31/01 is at 10793 & 10775
  • The VWAP & POC of Jan Series is 10795 & 10823 respectively.
  • The VWAP & POC of Dec Series is 10796 & 10741 respectively.
  • The VWAP & POC of Nov Series is 10480 & 10580 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 10773-10809-10822

Hypos / Estimates for the next session:

a) Staying above 10809 at open, NF can probe higher to 10833-842 & 10863-876 levels
b) Below 10809, NF can test pull back lows of 10785 & extension handle of 10769
c) Acceptance above 10876 can bring 10902-914 & the pull back high of 10927
d) Below 10765, NF gets weak for a move to 10736-728 & 10701-690


BankNifty Feb F:

Bnf Compo1 14 Market Profile Analysis Dated 21St Feb 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 opened above the spike high of 27053 and rejected the entry back into the spike as it made a low of 27047 after which it probed higher tagging 27130 in the ‘A’ period where the auction got stalled. The ‘B’ period then made an inside bar and stayed below VWAP leaving a very narrow IB range of just 82 points. (Click here to view the profile chart for better understanding) The ‘C’ period then attempted a move lower as it broke IBL to make a new low at 27038 but got rejected and was immediately pushed back into IB leaving a probable FA at lows. ‘D’ then made an inside bar and stayed below VWAP in a range of just 25 points which meant the auction is not getting good trade facilitation hinting at a move away which happened in the ‘E’ period as BNF moved higher to get above VWAP and went on to break IBH to make new day high at 27142 and in the process confirming the FA at 27038. BNF however did not get further follow through on the upside as ‘F’ made an inside bar indicating that the OAOR could keep the auction confined within a narrow range. The ‘G’ period then broke below VWAP to leave a pull back low of 27069 as ‘H’ retraced the move back up making a nice balance for the day. The ‘J’ period made new highs and ‘K’ followed it up with a higher high at 27170 but there was no new demand which reversed the auction as ‘K’ then went on to break VWAP & make an outside bar making lows of 27072. The ‘L’ period made an inside bar & the last period ‘M’ remained inside ‘L’ to leave a prominent POC at 27090 and a nice Gaussian profile for the day which was also a Neutral Centre Day and there is a good chance of the auction giving a fresh move away from here.

  • The BNF Open was a Open Auction Out of Range (OAOR)
  • The day type was a Neutral Centre Day (Gaussian Profile)
  • Largest volume was traded at 27090 F
  • Vwap of the session was at 27103 with volumes at 18.8 L in a session which traded a High-Low range of 27170-27038 for a range of 131 points
  • BNF confirmed a multi-day FA at 26700 on 20/02 and tagged the 1 ATR move up at 26994. The 2 ATR move up comes to 27288.
  • BNF confirmed a FA at 27384 on 12/02 and tagged the 2 ATR move down at 26736 on 15/02. This FA is currently on ‘T+7’ Days
  • BNF confirmed a FA at 27716 on 23/1 and completed the 2 ATR move down hence is now strong resistance
  • The VWAP & POC of Jan Series 27236 & 27514 respectively. The auction has closed below both of them.
  • The VWAP & POC of Dec Series 26713 & 26832 respectively.
  • The VWAP & POC of Nov Series 25686 & 26218 (Spot) 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 27085-27090-27131

Hypos / Estimates for the next session:

a) Staying above 27090 at open, BNF can probe higher to 27130-156 & 27189-200
b) Below 27090, BNF can test the FA of 27038 which if broken can bring 26979-955
c) Above 27200, the auction can tag 27280-288 & the vPOC of 27335
d) BNF gets weak below 27955 for a move down to 26900-885 & 26846-825
e) If BNF accepts above 27335, it can go upto the FA of 27384 and above it the HVN of 27430

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