Market Profile Analysis dated 23rd June 2020

Nifty Jun F:  10468 [ 10480 / 10282 ]
HVNs – 9420 / 9785 / 9894 / 10094 / 10272 / 10320

Previous day’s report ended with this ‘Value formed was completely higher for the day but the balanced profile and close suggests that auction could remain in this zone unless some initiative volumes come in’

NF started with an OAIR (Open Auction In Range) with the lowest opening volumes for the series and remained in previous day’s range for the first part of the day before making an Range Extension higher which got in new volumes leading to a Trend Day Up.

  • The NF Open was a Open Auction In Range (OAIR)
  • The day type was a Trend Day – Up (TD)
  • Largest volume was traded at 10349 F
  • Vwap of the session was at 10374 with volumes of 144.9 L and range of 198 points as it made a High-Low of 10480-10282
  • The 18th June & 23rd June Trend Day VWAPs of 9957 & 10374 would be important support levels.
  • The settlement day Roll Over point (Jun) is 9426
  • The VWAP & POC of May Series is 9183 & 9109 respectively.
  • The VWAP & POC of Apr Series is 8999 & 9010 respectively.
  • The VWAP & POC of Mar Series is 9146 & 8592 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 10316-10349-10414

Main Hypos for 24.06.2020:

a) NF needs to stay above 10476 for a rise to 10500-544* / 10595-626 & 10655-690
b) The auction accepting below 10449 can test lower levels of 10410 / 10374-349 / 10320 & 10290-279

Extended Hypos:
c) Above 10690, NF can probe higher to 10718-750 / 10787 / 10815-830 & 10860-880
d) If 10279 is taken out, NF could fall to 10248-230 / 10194-175* / 10156-112 & 10090-070


BankNifty Jun F:  22292 [ 22360 / 21622 ]

HVNs – 19870 / 20120 / 20370 / 20874 / 21084 / 21630 / 21840

Previous day’s report ended with this ‘The auction then made a retracement to the prominent POC of the day at 21640 while making a low of 21596 in the ‘L’ period before closing the day at 21697 leaving an incomplete looking profile with completely higher Value

BNF also opened within previous range & Value and filled up the incomplete part of yesterday’s profile before spiking higher into the close as it tagged the 1 ATR target of 22315 from the weekly FA of 19435.

  • The BNF Open was a Open Auction In Range (OAIR)
  • The day type was a Normal Variation Day – Up with a Spike close
  • Largest volume was traded at 21850 F
  • Vwap of the session was at 21945 with volumes of 73.3 L and range of 738 points as it made a High-Low of 22360-21622
  • The 18th June Trend Day VWAPs of 20413 would be important support level.
  • The settlement day Roll Over point (Jun) is 19035
  • The VWAP & POC of May Series is 18767 & 19633 respectively.
  • The VWAP & POC of Apr Series is 19605 & 19710 respectively.
  • The VWAP & POC of Mar Series is 22104 & 20248 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 21740-21850-22014

Main Hypos for 24.06.2020:

a) BNF needs to get above 22356 for a rise to 22451-560 / 22650-720 / 22818-880 / 22920-23010 & 23100-160*
b) The auction below 22200 could test 22030 / 21945-848 / 21757-724 / 21640-564 & 21465

Extended Hypos:
c) If 23160 is taken out, BNF could start a fresh probe to 23235-290 / 23370-440 / 23510-580 / 23630-700* & 23820-910
d) Breaking below 21465, there could be a fall to 21351-300* / 21160-093 / 21021-20972 / 20890-825 & 20710-680

For more tradeable ideas and intraday trading strategies based on MarketProfile and the OrderFlow live charts with OrderFlow analysis Live, subscribe to the trading room. The Vtrender Trading Room hosts India’s largest MarketProfile community live every trading session from 9.15 am to 3.30 pm.

If not a Trading Room member you can get immediate access at – https://www.explara.com/e/vtrendertradingroomlive