Market Profile Analysis dated 22nd Feb

Nifty Feb F:

NF opened a bit lower and the attempt to probe higher was stalled below the yPOC as it made a high of 10802 and turned down. The auction then probed lower breaking below VWAP to tag yVAL  making a low of 10772 in the ‘A’ period. The ‘B’ period made an identical low but could not break below yVAL indicating that the auction wants to stay in yesterday’s Value as NF got back above VWAP and this time probed above the yPOC of 10809 also making a high of 10815 in the ‘B’ period. (Click here to view the profile chart for better understanding) The auction then balanced in a narrow range between IBH & VWAP for the next 3 periods and the probe below VWAP in the ‘F’ period was rejected as it left a pull back low at 10790 to move higher in the ‘G’ period as it made a high of 10810 but could not tag IBH. NF then proceeded to break VWAP again in the ‘H’ period and went on to get below the pull back low of 10790 but the move again lacked any conviction as NF took support at yVWAP making a low of 10786. The next period ‘I’ made an inside bar making almost an identical low at 10788 but was not able to close above VWAP and the ‘J’ period attempt to break lower was again thwarted at 10787 showing clear exhaustion in the move down. This led to a reversal in the ‘J’ period itself as it got above VWAP to make a high of 10812. The ‘K’ period continued to probe higher even getting above IBH and made a high of 10824 tagging the yVAH but again was not able to sustain above yesterday’s Value and got back into IB. The next 2 periods ‘L’ & ‘M’ stayed inside ‘K’ leaving a prominent POC at 10804 with NF staying totally inside previous day’s Value giving the narrowest range in the last 3 months so can expect a move away from here.

Nf Compo1 16 Market Profile Analysis Dated 22Nd 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 Normal Day
  • Largest volume was traded at 10804 F
  • Vwap of the session was at 10800 with lowest volumes of the series at just 61.1 L in a session which traded a High-Low range of 10833-10736 for a range of only 51 pointswhich is the lowest range in the past 3 months
  • 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 10792-10804-10811

Hypos / Estimates for the next session:

a) Staying below 10806-802, NF can probe lower to test 10785-782 & 10769
b) On the upside, NF needs to get above 10830-835 and sustain for a move to 10876-887
c) Below 10765, NF gets weak for a move to 10736-728 and if that breaks can tag the weekly HVN of 10701-690
d) Above 10887, the auction can probe higher to the weekly vPOC of 10905 and pull back high of 10927


BankNifty Feb F:

Bnf Compo1 15 Market Profile Analysis Dated 22Nd 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 lower and got rejected just below the yPOC and yVAL of 27090-85 breaking below PDL (previous day’s low) and in the process negating the FA of 27038 to confirm an ORR (Open Rejection Reverse) start to the day. It made a low of 26991 in the ‘A’ period and went on to balance for the next 2 periods with ‘B’ making an inside bar. (Click here to view the profile chart for better understanding) The ‘C’ period managed to probe above the highs of ‘B’ but got swiftly rejected at 27035 indicating the inability of the auction to get back into previous day’s range which in turn signaled that the PLR (Path of Least Resistance) for the day would be down. BNF then extended the range to the downside in the ‘D’ period and continued to probe lower as it tagged the 1.5 IB while making a low of 26932 in the ‘F’ period after which it began to balance below IBL & VWAP and the first attempt to probe above them was rejected in the ‘I’ period as BNF left a pull back high at 26998. The auction however could not break lower after this rejection and continued the balance it was forming before it made another attempt to get above IBL & VWAP in the ‘K’ period making a new high of 27016 but was again rejected and this rejection quickly went below VWAP and then IBL to make a new low for the day at 26915 in the ‘K’ period itself almost tagging the 2 IB extension. The last 2 periods then made narrow range inside bars as BNF closed around the prominent POC of 26940 leaving a ‘b’ profile for the day as it formed lower Value.

  • The BNF Open was a Open Rejection Reverse (ORR)
  • The day type was a Normal Variation Day – Down (‘b’ profile)
  • Largest volume was traded at 26940 F
  • Vwap of the session was at 26980 with volumes at 17.6 L in a session which traded a High-Low range of 27074-26915 for a range of 159 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 now strong resistance.
  • 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 26929-26940-27004

Hypos / Estimates for the next session:

a) Staying below 26940-935, BNF can move lower to 26885 and 26846
b) Accepting above 27035, the auction can probe higher to the vPOC of 27090 and 27135
c) Below 26846, BNF gets weak for a move to 26800-790 and 26720-700
d) Above 27135, higher levels of 27189-200 and 27280 can be tagged

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