Market Profile Analysis dated 22nd Nov

Nifty Nov F:

NF opened near the yPOC & made an attempt to go higher but got rejected above yVAH itself & never had the chance of testing that selling tail of 10659-10684. It then got stuck in a narrow range making one of the narrowest IB (Initial Balance) range of just 39 points which was an indication that any range extension coming later in the day could be a big one. The first attempt to extend lower got rejected & we got a pull back high at 10640 where again there were no buyers above yVAH to take NF higher. This confirmation was good enough for sellers as they then drove the prices lower making new day lows leaving an extension handle at 10599 to make a late DD down in the day to first make a low of 10545 and gave a pull back to 10583. Once this entry into previous day range got rejected, NF resumed its probe lower making new lows & closed in a spike of 10539-10512 which will be the zone to watch on Monday morning. We have had a 3 IB day so a good chance for a bounce to come on Monday post IB.

Nf Compo1 24 Market Profile Analysis Dated 22Nd Nov 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
    • The day type was a Double Distribution Down Trend Day (with a spike close)
    • Largest volume was traded at 10614 F
    • Vwap of the session was at 10592 with volumes of 87.7 L in a session which traded a High-Low range of 10647-10512 for 135 points 
    • NF closed below the FA of 10694 (19/11) and tagged the 1 ATR down target of 10553 today
    • The vwap of 29/10 at 10175 is strong support now which was broken intraday but re-captured
    • We had a FA at 10111 on 31/10 which has done its 2 ATR objective & is now strong support
    • The VWAP & POC of 31/10 10250 & 10248 will be important levels going forward

For the latest weekly and other swing levels of the Nifty go to https://vtrender.in/weekly-charts-market-profile-analysis-19th-to-22nd-nov-2018 and https://vtrender.in/market-profile-analysis-with-monthly-and-weekly-charts/

Daily Zones:

    • Value zones (volume profile) are at 10558-10614-10645

Hypos / Estimates for the next session:

a) Selling got emotional into close and makes 10510 as immediate supp for a bounce
b) 10570 and 10616 are zones which can produce supply
c) 10480 and 10430 are supports if opens below 10510


BankNifty Nov F:

Bnf Compo1 18 Market Profile Analysis Dated 22Nd Nov 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 around the HVN of 26330 but was not able to sustain above it & started to make value in the DD region of previous day making a very narrow IB of just 89 points and on a weekly expiry day this can be a lethal set up. BNF tried to extend the range lower but was getting exhausted at 26225 levels where it made poor lows with 3 TPOs around it after which it probed higher to give a pull back high at 26325 (again that HVN of 26330 resisting). The next attempt to break 26225 was successful & BNF then trended lower into the close leaving an extension handle at 26210 to first make a new low of 26085. It then gave a pull back high at 26185 and resumed its probe lower making fresh lows & closing in a spike of 26056-25957 which will be the zone to watch at open on Monday.

  • The BNF Open was an Open Auction in Range
  • The day type was a Double Distribution Down Trend Day (with a spike close)
  • Largest volume was traded at 26300 F
  • Vwap of the session was at 26190 with volumes of 37.4 L in a session which traded a High-Low range of 26339-25957 for 38 points
  • BNF closed below the FA made at 26080 which now stands negated and the 1 ATR move down comes at 25670
  • BNF also closed below FA of 26110 made on 21/11 and the 1 ATR target to the downside comes to 25790
  • BNF confirmed a multi-day FA today at 25811 and tagged the 1 ATR target of 26208 & is currently on T+5 days
  • The FA of 13/11 at 25429 is now strong support as has tagged the 2 ATR target of 26230 and closed above it
  • BNF has stayed above the vwap of 17/10 which was 25500 and is now support
  • We had a FA at 24625 on 31/10 which has completed 1 ATR of 25102 & has stayed above the 2 ATR of 25575
  • 31st October’s VWAP of 24895 & POC of 24900 will be important levels going forward

For the weekly and other swing levels of the Bank Nifty go to – https://vtrender.in/weekly-charts-market-profile-analysis-19th-to-22nd-nov-2018 and https://vtrender.in/market-profile-analysis-with-monthly-and-weekly-charts/

Daily Zones:

  • Value zones ( volume profile) are at 26130-26300-26332

Hypos / Estimates for the next session:

a) 26300 is now a strong supply for the series
b) 25936 is support
c) above 26040 can bounce to 26140 and 26220 where sellers can come back again

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