Market Profile Analysis dated 25th August 2020

Nifty Aug F:  11471 [ 11519 / 11416 ]

NF opened higher right at PDH (Previous Day High) and even made a marginal new high of 11519 but lack of fresh demand led to the retracement of the entire trend day range as the auction went not only broke below 11465 but went on to tag the POC of 11430 while making a low of 11416 completing a 2 IB day down where it found support in yesterday’s buying tail and gave a bounce back to 11493 before closing the day around the prominent POC of 11475 leaving a 3-1-3 profile for the day. The range & value were both inside previous day giving a 2-day balance in NF and unless we get some initiative activity in the next session, the auction could continue this balance.

Click here to view the 2 day balance in NF on MPLite

  • The NF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Variation Day – Down (3-1-3 profile)
  • Largest volume was traded at 11475 F
  • Vwap of the session was at 11466 with volumes of 100.6 L and range of 103 points as it made a High-Low of 11519-11416
  • The settlement day Roll Over point (Aug) is 11095
  • The VWAP & POC of Jul Series is 10897 & 10803 respectively.
  • The VWAP & POC of Jun Series is 10110 & 10110 respectively.
  • The VWAP & POC of May Series is 9183 & 9109 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 11433-11475-11481

HVNs – 10918 / 10970 / 11095 / 11196 / 11310

Main Hypos for 26.08.2020:

a) NF needs to sustain above 11480 for a rise to 11510 / 11541-587 & 11615-631*
b) The auction staying below 11460 could fall to 1133-425 / 11410-395* & 11360-328

Extended Hypos:
c) Above 11631, NF can probe higher to 11675-698 / 11721-734* & 11764
d) If 11328 is taken out, NF could fall to 11305* / 11270-230* & 11193-187


BankNifty Aug F:  23078 [ 23168 / 22825 ]

BNF made another strong open as it drove higher on low volumes and made a high of 23119 in the IB but could not extend any further which led to a downside probe in the ‘C’ & ‘D’ periods where it made a low of 22825 stalling right above previous day’s POC of 22810 which indicated demand coming back in this zone. The auction then probed higher over the next 5 periods as it made a RE higher in the ‘I’ period confirming a FA at lows but once again got rejected from the new highs of 23168 as it left a small tail at top and went on to test the IBL of 22900 confirming a FA at day’s high also. BNF then let the tails of the ‘D’ & the ‘I’ periods remain at the 2 extremes closing at the DPOC of 23070 leaving a perfect Neutral Centre Day. Value for the day was higher so the PLR remains up but will need some initiative volumes at open in the next session for a move away from this balance.

Click here to view the Neutral Centre profile in BNF on MP Lite

  • The BNF Open was a Open Test Drive – Up (OD) [on lower volumes]
  • The Day type was a Neutral Centre Day(NeuC)
  • Largest volume was traded at 23070 F
  • Vwap of the session was at 23017 with the lowest volumes of this series at 63.3 L and range of 344 points as it made a High-Low of 23168-22825
  • The settlement day Roll Over point (Aug) is 21615
  • The VWAP & POC of Jul Series is 22163 & 22087 respectively.
  • The VWAP & POC of Jun Series is 20918 & 21000 respectively.
  • The VWAP & POC of May Series is 18767 & 19633 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 22942-23070-23096

HVNs – 21545 / 21615 / 22188

Main Hypos for 26.08.2020:

a) BNF needs to sustain above 23120 for a rise to 23190 / 23269-282 / 23350-432 & 23510-580
b) The auction accepting below 23069 could test 23010 / 22960-875 / 22810*-740 / 22692-640 & 22580-550

Extended Hypos:

c) Above 23580, BNF can probe higher to 23630 / 23700-787 / 23820-872 / 23991 & 24100-136
d) Breaking below 22550, it could fall to 22465-350 / 22280*-240 / 22194-155 / 22090-033 & 21984*

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