Market Profile Analysis dated 23rd Mar 2020

Nifty Mar F:  7581 [ 8189 / 7551 ]

HVNs – (7580) / 7719 / (7870) (7900) / 8196 / 8280 / 8568 / 8740 / (8900) / (9110-120) / 9200 / 9380

Report to be updated…

  • The NF Open was a Open Auction Out of Range  (OAOR)
  • The day type was a Normal Variation Day – Down (NV)
  • Largest volume was traded at 7719 F
  • Vwap of the session was at 7759 with volumes of 221.6 L and range of 638 points as it made a High-Low of 8189-7551
  • NF confirmed a FA at 9358 on 17/03  and tagged the 2 ATR move of 8613 on 18/03. This FA is currently on ‘T+5’ Days
  • The settlement day Roll Over point (Mar) is 11610
  • The VWAP & POC of Feb Series is 11944 & 12125 respectively.
  • The VWAP & POC of Jan Series is 12178 & 12132 respectively.
  • The VWAP & POC of Dec Series is 12087 & 12182 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 7626-7719-7872

Main Hypos for the next session:

a) NF needs to sustain above 7580-7605 for a rise to 7632-75 / 7719-28 / 7759-80 / 7800-20 & 7854-80
b) The auction remains weak below 7575-63 and could fall to 7533-27 / 7485 / 7418-04 / 7370-47 & 7308

Extended Hypos:
c) Above 7880, NF can probe higher to 7905 / 7989 / 8025-90 / 8130 & 8175-89
d) Below 7308, the auction can move lower to 7268-40 / 7168-59 / 7125 & 7046

-Additional Hypo-*:
e) NF if gets accepted above 8189* could lead to a rise to 8226 / 8260-90 / 8340-60 / 8400 / 8435-50 & 8490-8510


BankNifty Mar F:  16881 [ 19200/ 16741 ]

HVNs – hvns @ 16857 / 16975 / 17355 / (18280) / 18930 / 19550 / 19785 / 19930 / 20184 / (20248) / 20385 / 20500 / 23000

Report to be updated…

  • The BNF Open was a Open Auction Out of Range  (OAOR)
  • The day type was a Double Distribution Trend Day – Down (DD)
  • Largest volume was traded at 16857 F
  • Vwap of the session was at 17541 with volumes of 39.7 L and range of 2459 points as it made a High-Low of 19200-16741
  • The Trend Day VWAP of 18/03 at 20990 will be an important positional supply point in the days to come.
  • The settlement day Roll Over point (Mar) is 30520
  • The VWAP & POC of Feb Series is 30692 & 30692 respectively.
  • The VWAP & POC of Jan Series is 31425 & 32104 respectively.
  • The VWAP & POC of Dec Series is 31956 & 32102 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 16742-16857-17715

Main Hypos for the next session:

a) BNF needs to sustain above 16880-905 for a rise to 16980-990 / 17055-110 / 17160 / 17245-294 / 17355-381 / 17435 & 17488-500
b) The auction has immediate support at 16850-801 below which it could probe down to 16740-717 / 16575 / 16524-488 / 16416-379 & 16280-260

Extended Hypos:
c) Above 17500, BNF can probe higher to 17541-570 / 17640 / 17710-738 / 17830 / 17880-925 & 18015
d) Below 16260, lower levels of 16176 / 16119 / 16008 / 15906-855 & 15555 could come into play

Additional Hypos*:
e) BNF if gets accepted above 18015* could lead to a rise to 18130-200 / 18280-300 / 18435-523 / 18599 & 18790
f) If 15555* is taken out, the auction can fall to 15489-450 / 15325 / 15212 / 15090 & 14950

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://in.explara.com/e/vtrender–trading–room/checkout