Market Profile Analysis dated 22nd May 2020

Nifty May F:  9028 [ 9123 / 8940 ]

HVNs – (8964) / 9078 / 9212 / 9320

Report to be updated…

  • The NF Open was a Open Rejection Reverse (Up)  (ORR) which failed
  • The day type was a Normal Variation Day – Down (‘b’ shape profile)
  • Largest volume was traded at 8980 F
  • Vwap of the session was at 9008 with volumes of 179.7 L and range of 184 points as it made a High-Low of 9123-8940
  • NF confirmed a multi-day FA at 8852 on 20/05 and tagged the 1 ATR objective of 9053 on the same day. The 2 ATR target comes to 9252
  • NF confirmed a multi-day FA at 9180 on 18/05 and almost tagged the 2 ATR objective of 8810 on the same day. This FA is currently on ‘T+6’Days.
  • NF had confirmed a multi-day FA at 8706 on 09/04  and tagged the 2 ATR objective of 9756 on 30/04. This FA has not been tagged & is now important support.
  • The Trend Day VWAP of 8667 would be important support level.
  • The settlement day Roll Over point (May) is 9822
  • The VWAP & POC of Apr Series is 8999 & 9010 respectively.
  • The VWAP & POC of Mar Series is 9146 & 8592 respectively.
  • The VWAP & POC of Feb Series is 11944 & 12125 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 8953-8980-9029

Main Hypos for the next session:

a) NF needs to sustain above 9030 for a rise to 9052-78 / 9102-23 / 9140-70 / 9186-9213* & 9238-52
b) The auction remains weak below 9012 and could test 8980 / 8965-45 / 8924-16 / 8888-52 & 8826-10

Extended Hypos:
c) Above 9252, NF can probe higher to 9272-82 / 9312-20 / 9356-66 / 9385-9400* / 9420 & 9444-60
d) Below 8810, the auction can fall further to 8792-60* / 8721-06 / 8686 / *8667*-48 & 8619-06


BankNifty May F:  17216 [ 17900 / 17006 ]

HVNs – (17620) / 18070 / (18800) / (19220) / 19600-620 / 19800

Report to be updated….

  • The BNF Open was a Open Rejection Reverse (Up)  (ORR) which failed
  • The day type was a Normal Variation Day – Down (‘b’ shape profile)
  • Largest volume was traded at 17120 F
  • Vwap of the session was at 17263 with volumes of 101 L and range of 894 points as it made a High-Low of 17900-17006
  • BNF confirmed a FA at 18175 on 21/05  and tagged the 1 ATR objective of 17407 on 22/05. The 2 ATR target comes to 16639.
  • BNF confirmed a FA at 21932 on 30/04  and tagged not just the 1 ATR objective of 21028 but also the 2 ATR target of 20125 on 04/05. This FA has not been tagged and is now positional supply point.
  • The settlement day Roll Over point (May) is 21380
  • The VWAP & POC of Apr Series is 19605 & 19710 respectively.
  • The VWAP & POC of Mar Series is 22104 & 20248 respectively.
  • The VWAP & POC of Feb Series is 30692 & 30692 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 17070-17120-17285

Main Hypos for the next session:

a) BNF sustaining above 17262 could rise to 17312-360 / 17444-499 / 17580-620 / 17670-694 / 17770-790 & 17900-910
b) The auction has immediate support at 17185 below which it could fall to 17120-066 / 17005-16970 / 16905-860* / 16800-770 / 16721-675 / 16635-600 & 16540-490

Extended Hypos:
c) Above 17910, BNF can probe higher to 17970 / 18010-93 / 18144-209 / 18270-358 / 18416-475 / 18535 & 18650
d) Below 16490, lower levels of 16395* / 16290 / 16209-170 / 16110 / 16017-008 / 15906-855 & 15750 could come into play

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