Market Profile Analysis dated 25th January 2021

Nifty Jan F:  14253 [ 14498 / 14233 ]

NF opened with a gap up of 95 points but got rejected from Friday’s VWAP of 14483 giving an ORR (Open Rejection Reverse) start to the day and the selling intensified once the yPOC of 14430 was taken out as the auction broke below PDL (Previous Day Low) of 14357 in the A period itself and went on to make new lows of 14266 in the ‘B’ period leaving a huge 232 point range in the IB (Initial Balance) taking support just above previous week’s low of 14250. The downmove however looked too streched as NF left a buying tail from 14307 to 14266 in the IB and went on to probe higher in the ‘C’ period where it left a PBH (Pull Back High) at 14438 where the morning sellers came back stalling the upmove. The auction then remained between the 2 tails forming a 3-1-3 profile till the ‘J’ period where it negated the buying tail of the IB and trended lower into the close forming new lows of 14233 before closing the day at 14253. Value for the day was mostly lower so the PLR remains on the downside with the spike zone of 14233 to 14263 being the immediate reference for the next session.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Rejection Reverse – Down (ORR)
  • The Day type was a Normal Day (with a spike close)
  • Largest volume was traded at 14370 F
  • Vwap of the session was at 14357 with volumes of 138.8 L and range of 264 points as it made a High-Low of 14498-14233
  • NF confirmed a FA at 14626 on 22/01 and tagged the 2 ATR objective of 14291 on 25/01.
  • NF confirmed a FA at 14077 on 05/01 and tagged the 2 ATR objective of 14413 on 11/01. This FA has not been tagged and is now positional support.
  • The settlement day Roll Over point (Jan) is 14007
  • The VWAP & POC of Dec Series is 13528 & 13528 respectively.
  • The VWAP & POC of Nov Series is 12554 & 12862 respectively.
  • The VWAP & POC of Oct Series is 11793 & 11897 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 14287-14370-14420

HVNs – 13970 / 14040 / 14120 / 14220 / 14460* / 14594


BankNifty Jan F:  31181 [ 31700 / 30990 ]

BNF also opened with a big gap up of 272 points and continued to probe higher as it negated Friday’s extension handle of 31542 and even scaled above the Trend Day VWAP of 31562 in the opening minutes but got swiftly rejected from 31598 from where it made a big fall of 609 points in the next 30 mins breaking below previous week’s low of 31123 & hitting 30990 at the start of the ‘B’ period. The auction however left a buying tail in the IB from 31111 to 30990 and scaled above the day’s VWAP which led to a short covering squeeze resulting in a C side Range Extension on the upside as BNF made new highs for the day at 31700 stalling at previous week’s extension handle of 31692 which marked the end of the upside probe for the day and the auction made a slow probe back to 31011 into the close leaving a Normal Day with Value being completely inside previous Value leaving a 2-day composite at 31113-31206-31628.

Click here to view the 2-day composite in BNF on MPLite

  • The BNF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Day
  • Largest volume was traded at 31500 F
  • Vwap of the session was at 31380 with volumes of 75.7 L and range of 1104 points as it made a High-Low of 32227-31123
  • The settlement day Roll Over point (Jan) is 31389
  • The VWAP & POC of Dec Series is 30270 & 30766 respectively.
  • The VWAP & POC of Nov Series is 28104 & 29565 respectively.
  • The VWAP & POC of Oct Series is 23740 & 24468 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 31235-31500-31608

HVNs – 31410 / 31900 / 32107* / 32406 / 32686

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