Market Profile Analysis dated 22nd February 2021

Nifty Feb F:  14672 [ 15003 / 14640 ]

NF made an OAIR start but got rejected from just below Friday’s POC of 15007 as it made a high of 15003 and trended lower from the ‘B’ period onwards where it left the first extension handle of the day at 14922 and made a One Time Frame probe lower till the ‘K’ period leaving the second extension handle at 14853 in the ‘E’ period as it went on make a low of 14665 in the ‘K’ period revisiting the FA of 14713 from where it gave the only pullback of the day in the ‘L’ period to 14768 but this retracement was once again sold into as the auction went on to make new lows for the day at 14640 into the close leaving a Trend Day Down but the dPOC shifted lower to 14705 which could mean the shorts have booked out for now and this imbalance could lead to a balance in the coming session. The PBH of 14768 & today’s VWAP of 14811 would be the important references on the upside whereas on the downside NF could go for a test of January’s POC of 14570 if gets accepted below 14640.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction In Range (OAIR)
  • The Day type was a Trend Day – Down (TD)
  • Largest volume was traded at 14705 F
  • Vwap of the session was at 14811 with volumes of 127.6 L and range of 363 points as it made a High-Low of 15003-14640
  • NF confirmed a FA at 15145 on 19/02 and hit the 2 ATR objective of 14689 on the 22/02.
  • NF confirmed a FA at 15255 on 18/02 and hit the 2 ATR objective of 14799 on 22/02.
  • NF confirmed a FA at 14731 on 04/02 and completed the 2 ATR objective of 15265 on 09/02. This FA was broken on 22/02 and is no longer a positional support.
  • The settlement day Roll Over point (Feb) is 13809
  • The VWAP & POC of Jan Series is 14288 & 14569 respectively.
  • The VWAP & POC of Dec Series is 13528 & 13528 respectively.
  • The VWAP & POC of Nov Series is 12554 & 12862 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 14640-14705-14878

HVNs – 13886 / 14015 / 14172 / 14664 / 14820 / 14879 / 15120* / 15310


BankNifty Feb F:  35254 [ 36116 / 35075 ]

BNF opened lower and made the first probe to the upside in the ‘A’ period as it went on to tag 36116 but could not get above the Neutral Extreme Day’s VWAP of 36157 and similar to NF started a OTF (One Time Frame) move lower till the ‘K’ period as it broke below previous week’s low of 35570 and went on to tag the 4th Feb VPOC of 35332 while making a low of 35075 from where it gave a retracement to the day’s VWAP forcing the late shorts to cover as it left a PBH at 35513 but found aggressive sellers coming back in this zone as they pushed the auction back to 35152 before closing the day at 35254 leaving a Trend Day Down. As in NF, the dPOC in BNF also has shifted lower to 35170 so sustaining above this the auction could form a balance in the next session with the PBH of 35513 as reference whereas on the downside, 35099 & 34918 would be the important levels to watch.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auction In Range (OAIR)
  • The Day type was a Trend Day – Down (TD)
  • Largest volume was traded at 35170 F
  • Vwap of the session was at 35528 with volumes of 59.1 L and range of 1041 points as it made a High-Low of 36116-35075
  • BNF confirmed a FA at 36680 on 19/02 and hit the 1 ATR objective of 35714 on the same day. The 2 ATR target from this FA comes to 34748.
  • BNF confirmed a FA at 34343 on 04/02 and completed the 2 ATR objective of 36091 on 05/02. This FA has not been tagged and is now positional support.
  • The settlement day Roll Over point (Feb) is 30445
  • The VWAP & POC of Jan Series is 31597 & 32062 respectively.
  • The VWAP & POC of Dec Series is 30270 & 30766 respectively.
  • The VWAP & POC of Nov Series is 28104 & 29565 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 35104-35170-35741

HVNs – 30041 / 30534 / 30996 / 34407 / 35751* / 35920 / 36339

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