Market Profile Analysis dated 22nd March 2021

Nifty Mar F:  14741 [ 14780 / 14600 ]

NF made an OAIR (Open Auction In Range) start and got rejected from Friday’s selling tail of 14775 to 14805 as it made a high of 14780 in the IB (Initial Balance) and probed lower filling up the low volume zone of previous profile till it made a low of 14600 in the ‘I’ period stopping just above the VWAP of 14595 indicating demand defending this zone which also signalled the –reversal of the probe to the upside into the close as the auction went on to tag 14765 before closing the day right at the open price of 14741. Both Value & Range formed inside bars leading to a 2-day composite in NF with Value at 14578-14689-14790 and initiative volumes would be required for a move away from this balance in the coming session(s).

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 Normal Variation Day – Down (Inside Bar)
  • Largest volume was traded at 14693 F
  • Vwap of the session was at 14692 with volumes of 113.6 L and range of 180 points as it made a High-Low of 14780-14600
  • NF confirmed a FA at 14981 on 17/03 and tagged the 2 ATR objective of 14490 on 19/03. This FA is currently on ‘T+4’ Days.
  • The settlement day Roll Over point (Mar) is 15174
  • The VWAP & POC of Feb Series is 14893 & 15115 respectively.
  • The VWAP & POC of Jan Series is 14288 & 14569 respectively.
  • The VWAP & POC of Dec Series is 13528 & 13528 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 14641-14693-14732

HVNs – 14810 / 14887* / 14974 / 15037 / 15230


BankNifty Mar F:  33685 [ 34190 / 33413 ]

BNF also made an OAIR start and remained in the 3-1-3 profile of Friday as it made a high of 34190 in the IB and probed lower making multiple REs and in the process even left an extension handle at 33755 in the ‘G’ period to quicken up the fall as it tested the buying tail of 33468 to 33380 in the ‘I’ period but got rejected after making a low of 33413 triggering a bounce back to the extension handle of 33755 into the close leaving an inside bar both in terms of range & value. The 2-day composite gives a nice balance with Value at 33565-33872-34037 and similar to NF, a strong open is needed in the coming session(s) for this balance to turn to imbalance.

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 Normal Variation Day – Down (Inside Bar)
  • Largest volume was traded at 33900 F
  • Vwap of the session was at 33757 with volumes of 50.5 L and range of 777 points as it made a High-Low of 34190-33413
  • BNF confirmed a FA at 35184 on 17/03 and completed the 2 ATR objective of 33409 on the 19/03. This FA is currently on ‘T+4’ Days.
  • The settlement day Roll Over point (Mar) is 36719
  • The VWAP & POC of Feb Series is 35530 & 35820 respectively.
  • The VWAP & POC of Jan Series is 31597 & 32062 respectively.
  • The VWAP & POC of Dec Series is 30270 & 30766 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 33622-33900-34164

HVNs – 35270* / 35640

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