Market Profile Analysis dated 25th June 2020

Nifty Jul F:  10245 [ 10320 / 10156 ]
HVNs – 10175 / 10240 / 10475

NF continued the imbalance of previous day’s Trend Down profile as it opened with a big gap down but left a buying tail in the IB from 10218 to 10175 suggesting that the downside probe was done as it then probed higher till the ‘D’ period where it made a high of 10320 stalling just below the selling extension handle of 10329 which indicated that the supply was coming back here. The auction then retraced the entire move up as it not only negated the morning buying tail but went on to make new lows for the day at 10156 in the ‘H’ period where it took support just above the VWAP of 19th June to make another probe higher as it once again got above the IBH which confirmed a FA at lows as NF then settled down to close at the prominent POC of 10240 leaving a Neutral Centre Day to start the new series of July.

  • The NF Open was a Open Auction Out of Range  (OAOR)
  • The day type was a Neutral Day (NeuD)
  • Largest volume was traded at 10240 F
  • Vwap of the session was at 10245 with volumes of 143 L and range of 164 points as it made a High-Low of 10320-10156
  • NF confirmed a FA at 10156 on 25/06 and the 1 ATR target on upside comes to 10381.
  • NF confirmed a FA at 10516 on 24/06 and completed the 1 ATR objective of 10299 on the same day. The 2 ATR target comes to 10081.
  • The 24th June Trend Day VWAPs of 10403 would be important supply point.
  • The 18th June Trend Day VWAP of 9957 would be important support level.
  • The settlement day Roll Over point (Jul) is 10240
  • The VWAP & POC of Jun Series is 10090 & 10315 respectively.
  • The VWAP & POC of May Series is 9183 & 9109 respectively.
  • The VWAP & POC of Apr Series is 8999 & 9010 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 10220-10240-10299

Main Hypos for 26.06.2020:

a) NF needs to stay above 10260 for a rise to 10293-329 / 10356 / 10392-403 & 10460-489*
b) The auction below 10220 can test lower levels of 10175-145 / 10104-081 / 10041 & 9992

Extended Hypos:
c) Above 10489, NF can probe higher to 10544-576 / 10606/ 10655-690 & 10735
d) If 9992 is taken out, NF could fall to 9957 / 9906 / 9867*-25 & 9750


BankNifty Jul F:  21439 [ 21609 / 20900 ]

HVNs – 21430 / 21760 / 22250

BNF also opened lower but faced swift rejection from the lows of 20900 as it left a buying tail from 21115 to 20900 to make a similar probe higher like NF till the ‘D’ period as it completed the 1.5 IB objective of 21557 to the dot & made a retracement back into the singles of morning but unlike NF, the auction took support at 21010 indicating that BNF was stronger and this led to a fresh probe higher as it went on to make new highs for the day at 21609 before closing around the HVN & prominent POC of the day.

  • The BNF Open was a Open Auction Out of Range (OAOR)
  • The day type was a Normal Variation Day – Up
  • Largest volume was traded at 21420 F
  • Vwap of the session was at 21313 with volumes of 43.2 L and range of 709 points as it made a High-Low of 21609-20900
  • The 24th June Trend Day VWAPs of 21887 would be important supply point.
  • The 18th June Trend Day VWAPs of 20494 would be important support level.
  • The settlement day Roll Over point (Jul) is 21430
  • The VWAP & POC of Jun Series is 20887 & 20068 respectively.
  • The VWAP & POC of May Series is 18767 & 19633 respectively.
  • The VWAP & POC of Apr Series is 19605 & 19710 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 21207-21420-21572

Main Hypos for 26.06.2020:

a) BNF needs to sustain above 21456 for a rise to 21506-579 / 21700-760* / 21839-888 / 21965 & 22045-80
b) The auction below 21430 could test 21360-300 / 21210-156 / 21072-36 / 20975-900 & 20850-784

Extended Hypos:
c) If 22080 is taken out, BNF could start a fresh probe to 22130-260 / 22356-420 / 22490-560 / 22650-712 & 22818-880
d) Breaking below 20784, there could be a fall to 20700-616 / 20545-484 / 20436-396 / 20316-200 & 20139*-040

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