Market Profile Analysis dated 21st May

Nifty May F:

NF gave a hat-trick of trend days today with a Double Distribution Trend Day to the downside which was not a typical DD as the singles separating the 2 distributions was missing but nonetheless the auction did make 2 distributions on either side of the day leaving 2 HVNs at 11862 & 11715 to retrace most of the previous day’s move higher. (Click here to view the profile chart for better understanding) NF opened above PDH making new all time highs of 11895 at open but immediately got rejected into the previous day’s range giving an ORR (Open Rejection Reverse) start as it left a small selling tail at top indicating that the longs could be booking out. The auction then made a balance till the ‘F’ period between 11870 to 11835 retaining the selling tail of 11874 to 11895 at the top after which it made a range extension lower in the ‘G’ period leaving an extension handle at 11824 and trended lower till the ‘L’ period as it completed the reverse 80% of the composite Value of 26th Apr to 3rd May and went on to break the trend day VWAP of 11744 as it made a low of 11687 in the ‘L’ period with a pull back high at 11792 in between it had left in the ‘J’ period. NF however recovered in the ‘M’ period to make a high of 11729 as it closed at the HVN of 11715 which had also by close become the dPOC for the day. NF has made a 2 day composite Value of 11709-11862-11871 (chart given below) and if stays above the HVN of 11715 can fill up the low volume zone till 11835.

Nf Mplite 2 Market Profile Analysis Dated 21St May 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

[20th-21st May: 2-day Composite]

Nf Mplite 2D Comp Market Profile Analysis Dated 21St May 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 Rejection Reverse – Down (ORR)
  • The day type was a Double Distribution Trend Day – Down
  • Largest volume was traded at 11715 F
  • Vwap of the session was at 11794 with volumes at 123 L in a session of 208 points trading in a High-Low range of 11895-11687
  • The settlement day Roll Over point is 11722
  • The VWAP & POC of Apr Series is 11641 & 11592 respectively.
  • The VWAP & POC of Mar Series is 11327 & 11448 respectively.
  • The VWAP & POC of Feb Series is 10830 & 10856 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 11692-11715-11835

Hypos / Estimates for the next session:

a) NF staying above 11715 can probe higher to 11735-745 & 11770
b) Sustaining below 11715-705, the auction can move lower to 11685-680 & 11650-643
c) Above 11770, NF can tag higher levels of 11790-795 & 11822-826
d) Below 11643, NF becomes weak for a test of 11620 & 11600-590
e) If 11826 is sustained, 11845 & 11862-871 could be tagged
f) Break of 11590 can trigger a move lower to 11550 & 11527


BankNifty May F:

Bnf Mplite 2 Market Profile Analysis Dated 21St May 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 an ORR start as after opening in previous day’s range it probed above the PDH to make new life time highs of 30970 but was quickly rejected as it got back below 30885 in the first 10 minutes and kept probing lower all day. (Click here to view the profile chart for better understanding) The auction left a selling tail at top from 30864 to 30970 and similar to NF made a balance for the first part of the day before leaving an extension handle at 30685 in the ‘G’ period which started a trending move down till the ‘L’ period as it made a low of 30315 and leaving a pull back high of 30638 in the ‘J’ period. BNF closed around the HVN & dPOC of 30387 as it moved away from the morning HVN of 30750 to give a Double Distribution Trend Day (Down). The auction can balance between these 2 HVNs in the next session if BNF does not move away from 30387 a open tomorrow.

[20th-21st May: 2-day Composite]

Bnf Mplite 2D Comp Market Profile Analysis Dated 21St May 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 BNF Open was a Open Rejection Reverse – Down (ORR)
  • The day type was a Double Distribution Trend Day – Down
  • Largest volume was traded at 30387 F
  • Vwap of the session was at 30628 with volumes at 33.4 L in a session which traded a High-Low range of 30970-30315 for a range of 655 points
  • The settlement day Roll Over point is 29760
  • The VWAP & POC of Apr Series is 30037 & 29762 respectively.
  • The VWAP & POC of Mar Series is 29061 & 29778 respectively.
  • The VWAP & POC of Feb Series 27042 & 26978 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 30330-30387-30725

Hypos / Estimates for the next session:

a) BNF staying above 30385 can move higher to 30450-475 & 30575
b) Sustaining below 30385, BNF gets weak for a test of 30330 & 30285-250
c) Above 30575, the auction can probe higher to 30628-638 & 30685
d) Below 30250, BNF has small support at 30200 and if that is taken out can fall to 30120-060
e) If 30685 is taken out, higher levels of 30750-785 & 30864 can be expected
f) Break of 30060 could lead a new leg down to 29945 / 29880 & 29832

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