Market Profile Analysis dated 24th Apr 2020

Nifty Apr F:  9138 [ 9260 / 9115 ]

HVNs – (8112) / (8280) / (8400) / (8544) / 8928 / 8976 / 9024 / 9216 / (9265)

Report to be updated…

  • The NF Open was a Open Auction  (OA)
  • The day type was a Neutral Day (NeuD)
  • Largest volume was traded at 9150 F
  • Vwap of the session was at 9179 with volumes of 168.4 L and range of 145 points as it made a High-Low of 9260-9115
  • NF had confirmed a multi-day FA at 8686 on 09/04  and tagged the 1 ATR objective of 9211 on 15/04. The 2 ATR target comes to 9736. This FA has not been tagged & is now important support.
  • NF confirmed a FA at 7521 on 24/03  and tagged the 2 ATR objective of 8595 on 26/03. This FA has not been tagged and is now positional support.
  • NF confirmed a FA at 9384 on 17/03  and tagged the 2 ATR move of 8613 on 18/03. This FA has not been tagged and is positional supply point. This FA was tagged on 20/04 but was immediately rejected from there so still holds as an important reference.
  • The Trend Day VWAP of 8620 would be important support level.
  • The settlement day Roll Over point (Apr) is 8686
  • The VWAP & POC of Mar Series is 9146 & 8592 respectively.
  • The VWAP & POC of Feb Series is 11944 & 12125 respectively.
  • The VWAP & POC of Jan Series is 12178 & 12132 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 9124 – 9150 – 9184

Main Hypos for the next session:

a) NF needs to sustain above 9152 for a rise to 9175-84 / 9208/ 9232-36 / 9262-89* & 9308-18
b) The auction has immediate support at 9140-24 below which it could test 9102 / 9085 / 9056-41 / 9016-13 & 8986

Extended Hypos:
c) Above 9318, NF can probe higher to 9337 / 9365-85 / 9412-16 & 9460-80
d) Below 8986, the auction can fall further to 8962-50 / 8925 / 8892-75 & 8840-28

-Additional Hypos*-
e) Sustaining above 9480` could take NF to 9510 / 9550 / 9580 & 9615
f) If 8828` is taken out, NF can start a new leg down to 8808-04 / 8775-36 / 8700 & 8667-62


BankNifty Apr F:  19517 [ 19860 / 19381 ]

HVNs – (18144) / (19248) / 19344-392 / 19536 / (19680) / (20064) / (20688)

Report to be updated...

  • The BNF Open was a Open Auction  (OA)
  • The day type was a Neutral Day (NeuD)
  • Largest volume was traded at 19560 F
  • Vwap of the session was at 19600 with volumes of 61.2 L and range of 479 points as it made a High-Low of 19860-19381
  • BNF confirmed a FA at 17921 on 07/04  and tagged the 1 ATR target of 19818 on 08/04. The 2 ATR objective from this FA is at 21715. This FA has not been tagged and is now positional support.
  • The settlement day Roll Over point (Apr) is 19380
  • The VWAP & POC of Mar Series is 22104 & 20248 respectively.
  • The VWAP & POC of Feb Series is 30692 & 30692 respectively.
  • The VWAP & POC of Jan Series is 31425 & 32104 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 19480 – 19560 – 19720

Main Hypos for the next session:

a) BNF needs to sustain above 19548 for a rise to 19600-651 / 19720-765 / 19818-828 / 19890 & 19950-980
b) The auction has immediate support at 19476 below which it could fall to 19433 / 19380-368 / 19290-230 / 19184-125 & 19044

Extended Hypos:
c) Above 19980, BNF can probe higher to 20064-80* / 20140-196 / 20232-286 / 20374-395 & 20456
d) Below 19044, lower levels of 18970-905 / 18770 / 18700 / 18660-650 & 18570 could come into play

-Additional Hypos*-
e) BNF sustaining above 20456` could start a new leg up to 20517-550 / 20620-688 / 20730-800 / 20880-916 & 21000
f) If 18570` is taken out, BNF could fall further to 18507-483 / 18430-375 / 18300 / 18225-195* & 18144-060

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