Market Profile Analysis dated 22nd Apr

Nifty Apr F:

NF continued the weakness it showed last week to open with a gap down & stayed below that prominent POC of 11766 as it made a high of 11750 at open to give a second successive drive lower at open as it stayed below the extension handle of 11740 & completed the 80% Rule in the composite of 11748 to 11652 in the ‘A’ period itself making a low of 11657 & left yet another large IB of 95 points. (Click here to view the profile chart for better understanding) The large IB meant the auction could balance a bit and it probed higher in the ‘C’ & ‘D’ periods though on a very narrow range to tag 11682 which was also the previous week’s low which NF could not scale indicating that the seller is firmly in control. The auction then balanced in a narrow range for the next 3 periods building volumes at the Apr Rollover Point of 11673 before it made a range extension to the downside in the ‘H’ period and continued to probe lower into the close almost tagging the 1.5 IB range extension of 11608 which was incidentally also the extension handle of 28th Mar. NF closed at lows so the PLR remains down has has supply now at 11646-660 & 11705 with a big selling tail from 11683 to 11771.

Nf Compo1 13 Market Profile Analysis Dated 22Nd Apr 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 Normal Variation Day (Down)
  • Largest volume was traded at 11673 F
  • Vwap of the session was at 11665 with highest volumes of the series at 95.5 L in a session which traded a High-Low range of 11750-11609 for a range of 141 points
  • NF had confirmed a FA at 11432 on 26/03 and tagged the 2 ATR move of 11632 on 27/03. This FA has not been tagged & is now strong support.
  • The settlement day Roll Over point is 11673
  • The VWAP & POC of Mar Series is 11327 & 11448 respectively.
  • The VWAP & POC of Feb Series is 10830 & 10856 respectively.
  • The VWAP & POC of Jan Series is 10795 & 10823 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 11628-11673-11685

Hypos / Estimates for the next session:

a) NF has immediate support at 11615-609 which if held it can probe higher to 11628-642 & 11673-683
b) If 11609 is not held, the auction can move lower to 11589-570 & 11554-550
c) Above 11683, NF can tag higher levels of 11705 & 11721-727
d) Below 11550, NF gets weak for a move to 11535 & 11521-514
e) If 11727 is taken out, the auction can attempt a move to 11748 & 11765
f) Break of 11514 could bring lower levels of 11496 and 11477-460 into play


BankNifty Apr F:

Bnf Compo1 13 Market Profile Analysis Dated 22Nd Apr 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 in the spike & gave another drive lower at it tagged the weekly vPOC of 29936 in the ‘A’ period itself leaving a huge IB of 334 points identical of the one it gave in the previous session. (Click here to view the profile chart for better understanding) BNF continued to repeat the auction it gave on Thursday as it made a ‘b’ profile with a selling tail from 30056 to 30245 for the first half of the day before making a range extension lower in the ‘H’ period & spiking into the close as it left an extension handle at 29852 to tag the 1.5 IB range extension of 29743 as it made a low of 29715. Spike Rules will be in play yet again for the next session & the spike zone is from 29715 to 29838.

  • The BNF Open was a Open Rejection Reverse – Down (ORR)
  • The day type was a Normal Variation Day – Down (‘b’ Profile plus spike)
  • Largest volume was traded at 29927 F
  • Vwap of the session was at 29923 with volumes at 28.8 L in a session which traded a High-Low range of 30245-29715 for a range of 530 ponts
  • BNF confirmed a FA at 29833 on 12/04 & tagged the 2 ATR move up of 30581 on 16/04. This FA got tagged today at ‘T+4’ Days
  • The settlement day Roll Over point is 30500
  • The VWAP & POC of Mar Series is 29061 & 29778 respectively.
  • The VWAP & POC of Feb Series 27042 & 26978 respectively
  • The VWAP & POC of Jan Series 27236 & 27514 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 29876-29927-30030

Hypos / Estimates for the next session:

a) BNF has immediate support at 29730-715 holding which it can attempt a probe higher to 29838-852 & 29927-950
b) If 29715 is broken, the auction can move lower to 29683-628 & 29596-555
c) Above 29950, BNF can tag higher levels of 30043-56 & 30130-158
d) Below 29555, BNF could bring lower levels of 29490 & 29452-448
e) If 30160 is taken out & sustained, the auction can test 30224-245 & 30285
f) Break of 29448 opens up lower levels of 29316 & 29240

For more tradeable ideas and intraday trading strategies based on MarketProfile and the OrderFlow live charts with OrderFlow analysis Live, subscribe to the trading room. The Vtrender Trading Room hosts India’s largest MarketProfile community live every trading session from 9.15 am to 3.30 pm.

If not a Trading Room member you can get immediate access at – https://in.explara.com/e/vtrender–trading–room/checkout