Market Profile Analysis dated 24th December 2020

Nifty Dec F:  13764 [ 13784 / 13641 ]

NF opened higher on Thursday getting above 13650 which was the SOC (Scene of Crime) of Monday and continued the imbalance to the upside in the IB as it hit 13747 and made the dreaded C side extension which got rejected leading to new lows for the day at 13641 in the ‘E’ period confirming the third FA of the week at 13748. However, the auction could not sustain below the IB either which suggested return of demand and this led to a OTF move higher for the rest of the day as the auction not only negated the morning FA but confirmed a new FA at lows of 13641 and went on to almost tag Monday’s FA of 13785 before closing the day at 13764 leaving the third Neutral profile in the last 4 days. Value for the day was completely higher so the PLR remains up once NF negates the FA of 13785 & gets accepted above it with 13747 & 13706 being the important references on the downside for the coming session.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Neutral Day (NeuD)
  • Largest volume was traded at 13706 F
  • Vwap of the session was at 13714 with volumes of 98.2 L and range of 143 points as it made a High-Low of 13784-13641
  • NF confirmed a FA at 13641 on 24/12 and the 1 ATR objective comes to 13812.
  • NF confirmed a FA at 13222 on 22/12 and tagged the 2 ATR objective of 13547 on 23/12.
  • NF confirmed a FA at 13784 on 21/12 and tagged the 2 ATR objective of 13527 on the same day. This FA was revisted on 24/12 on ‘T+3’ Days.
  • The settlement day Roll Over point (Dec) is 12974
  • The VWAP & POC of Nov Series is 12554 & 12862 respectively.
  • The VWAP & POC of Oct Series is 11793 & 11897 respectively.
  • The VWAP & POC of Sep Series is 11353 & 11560 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 13669-13706-13747

HVNs – 13020 / 13084 / 13190 / 13440 / 13570*


BankNifty Dec F:  30437 [ 30577 / 30021 ]

BNF took out the supply zone of 29966-29995 with a gap up and continued the imbalance higher with a Drive as it left a long buying tail from 30021 to 30263 in the IB and tagged the VPOC of 30329 as it went on to make a C side extension where it hit 30482 which stalled the upmove and gave the customary probe to the day’s VWAP and left a PBL at 30294 in the ‘E’ period. The auction remained in a narrow range between the IBH & VWAP till the ‘I’ period where it made another attempt to break lower but once again was rejected from 30295 triggering a short covering move as BNF made a fresh RE on the upside and went on to make higher highs for the next 2 periods as it hit 30577 but could not sustain above Monday’s VAH of 30561 leading to a retracement to the day’s vwap of 30390 into the close giving a second successive ‘p’ shape daily profile with completely higher Value. The PLR for the coming session remains to the upside as long as the auction remains above 30390 for a probe towards the daily & weekly VPOCs of 30689 & 30792 respectively. On the downside, the zone of 30294 to 30263 would be the important one to hold in case of any dip.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auction Out Range plus a Drive (OAOR + D)
  • The Day type was a Normal Variation Day – Up (‘p’ profile)
  • Largest volume was traded at 30412 F
  • Vwap of the session was at 30390 with volumes of 49.3 L and range of 555 points as it made a High-Low of 30577-30021
  • BNF confirmed a FA at 29000 on 26/11 and tagged the 2 ATR objective of 30355 on 07/12. This FA got tagged on 22/12 & held validating the positional support.
  • The settlement day Roll Over point (Dec) is 29629
  • The VWAP & POC of Nov Series is 28104 & 29565 respectively.
  • The VWAP & POC of Oct Series is 23740 & 24468 respectively.
  • The VWAP & POC of Sep Series is 22320 & 22320 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 30320-30412-30516

HVNs – 29650* / 30100 / 30300 / 30798

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