Market Profile Analysis dated 21st November

Market Profile Analysis dated 21st November 1

Nifty Nov F: 11974 [ 12030/ 11962 ]

HVNs – 11667 / 11760 / 11814 / 11876 / ( 11901-920 ) / 11974 / 12000 / (12044)

NF could not sustain the higher Value it had made the previous day negating the expectation of a move away from the composite it had been forming since the start of this series as it stayed below the yPOC of 12044 and made a balance over a narrow range of just around 50 points for most part of the day which included a freak high of 12030 in the opening minute. The auction began on a sedate note making an IB range of just 28 points (if the freak tick of 12030 was ignored) as it took support at 11991 which was the VAH of the composite. An attempt to break below the IBL was not too successful as NF could not extend the range by much as it made a new low of 11982 in the ‘E’ period and this rejection from below the IBL led to a probe higher as it scaled above VWAP and made similar highs of 12021 & 12020 in the ‘G’ & ‘I’ periods indicating exhaustion to the upside too which meant there was no OTF (Other Time Frame) present. The day’s profile was forming a nice Gaussian curve with a slow probe down till the ‘L’ period where NF gave a spike lower to 11962 stopping short just above the vPOC of 11960 before closing at 11974 leaving a spike reference of 11962 to 11982 which will be on watch at open tomorrow. Acceptance below the spike could bring a test of 11923-901 and on the upside, NF will need to sustain above 12000 for any chance of a fresh leg higher.

Market Profile Analysis dated 21st November 2

  • The NF Open was an Open Auction In Range (OAIR)
  • The day type was a Normal Variation Day (Down)  with a spike close
  • Largest volume was traded at 12000 F
  • Vwap of the session was at 11999 with volumes of 66.8 L and range of 59 points as it made a High-Low of 12030-11962
  • NF confirmed a multi-day FA at 11465 on 16/10 and completed the 2 ATR move up of 11776. This FA has not been tagged since & hence is now positional support
  • NF confirmed a FA at 11503 on 17/10 and completed the 2 ATR move up of 11808. This FA has not been tagged since & hence is now positional support
  • NF confirmed a FA at 11162 on 09/10 and completed the 2 ATR move up of 11554.  This FA has not been tagged since & hence is now positional support
  • The Trend Day VWAP of 29/10 at 11810 will be important reference on the downside.
  • The settlement day Roll Over point (Nov) is 11970
  • The VWAP & POC of Oct Series is 11461 & 11365 respectively.
  • The VWAP & POC of Sep Series is 11127 & 10960 respectively.
  • The VWAP & POC of Aug Series is 10966 & 10984 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 11988-12000-12014

Hypos / Estimates for the next session:

a) NF has immediate resistance at 11985-990 above which it could rise to 12003 / 12021-30 & 12052-60
b) The auction has support at 11965-960 which if broken could bring levels of 11940 / 11923-916 & 11901-885
c) Above 12060, NF can probe higher to 12080-94 / 12117-121 & 12148
d) Below 11885, auction becomes weak for 11860 / 11846-833 & 11816*-810
e) If 12148 is taken out, the auction go up to to 12166-185 / 12209 & 12226-236
f) Break of 11810 can trigger a move lower to 11795 / 11771-767 & 11749-734


BankNifty Nov F: 31316 [ 31445 / 31224 ]

HVNs – 30075 / 30150 / 30288 / 30400 / 30690 / 30760 / 31020 / (31175) / 31250 / 31315 / (31390)

Market Profile Analysis dated 21st November 3

Report to be updated…

(Click here to view BNF form a 3-day ‘p’ composite profile)

  • The BNF Open was an Open Auction In Range (OAIR)
  • The day type was a Neutral Day 
  • Largest volume was traded at 31310 F
  • Vwap of the session was at 31341 with volumes of 26.8 L and range of 221 points as it made a High-Low of 31445-31224
  • BNF confirmed a fresh FA at 31224 on 21/11 and the 1 ATR objective comes to 31665
  • BNF had confirmed a FA at 30052 on 06/11 and tagged the 2 ATR target of 31049 on 08/11. This FA has not been tagged since & hence is now positional support
  • BNF confirmed a FA at 27900 on 09/10 and completed the 2 ATR move up of 29779. This FA has not been tagged since & hence is now positional support
  • The Trend Day VWAP of 06/11 at 30447 will be important reference on the downside.
  • The Trend Day VWAP of 29/10 at 29945 will be important reference on the downside. This was tagged on 30/10 and broken but was swiftly rejected so proves to be support.
  • The settlement day Roll Over point (Nov) is 30150
  • The VWAP & POC of Oct Series is 28784 & 28415 respectively.
  • The VWAP & POC of Sep Series is 28416 & 27160 respectively.
  • The VWAP & POC of August Series 27858 & 27960 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 31297-31310-31397

Hypos / Estimates for the next session:

a) BNF needs to sustain above 31345 for a rise to 31390-410 / 31490 & 31560
b) Staying below 31310, the auction could test 31244-224 / 31180 & 31122-090
c) Above 31560, BNF can probe higher to 31618 / 31665-680 & 31727-740
d) Below 31090, lower levels of 31020 / 30965-914 & 30860 could be tagged
e) If 31740 is taken out, BNF can give a fresh move up to *31785-803* / 31875 & 31929-949
f) Below 30860, we could see lower levels of 30780-750* / 30686-658 & 30585-580

Additional Hypos

g) Above 31949, higher levels of 32001-58 / 32107-140 & 32197-213 could get tagged
h) Break of 30580 could trigger a move down to 30540 / 30500-460 & 30375-370

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