Market Profile Analysis dated 26th Dec

Nifty Dec F:

NF opened with a gap down with an almost OH (Open=High) start in the buying tail of 12/12 & the lack of defense from the earlier buyers drove NF lower on good volumes in the opening period breaking below the lows of that buying tail which was at 10588 & went on to tag the HVN of 10544 in IB itself though the range of the ‘B’ period was not even a third of the ‘A’ period which was a sign that sellers are getting exhausted. Though the ‘C’ period made a new low, it got rejected back into the IB immediately and ‘C’ period has got a notorious reputation of giving the maximum number of failed extensions & looked like it was keeping up to the same when it made an outside bar with a close above VWAP. From there, NF started OTF (one time frame) upside staying above VWAP all day leaving an extension handle at the IBH of 10640 & there by confirming the FA at lows of 10536. NF then did the 1 ATR move of 10666 in a swift move where it left singles from 10640 to 10671 and left another extension handle at 10678 from where it made another quick move higher to complete the 2 IB of 10736 & left another round of single TPOs from 10678-10718 which will act as first support on the expiry day tomorrow. NF made new highs at close at 10760 giving a Neutral Extreme Profile & is set to tag the 2 ATR target of 10796 from today’s FA.

Nf Compo1 17 Market Profile Analysis Dated 26Th Dec Banknifty Futures, Charts, Day Trading, Intraday Trading, Intraday Trading Strategies, Market Profile, Market Profile Trading Strategies, Nifty Futures, Order Flow Analysis, Support And Resistance, Technical Analysis, Trading Strategies, Volume Profile Trading

    • The NF Open was a OAOR + Drive (Down)
    • The day type was a Neutral Extreme Day (Up)
    • Largest volume was traded at 10582 F
    • Vwap of the session was at 10636 with the highest volumes of this series at 201 L in a session which traded a High-Low range of 10760-10536 for a range of a double century of 224 points 
    • NF left a FA at 10536 today & completed the 1 ATR move up to 10666. The 2 ATR move for this FA comes to 10796
    • The Trend Day VWAP of 21/12 at 10848 will now be strong resistance
    • NF had left a FA at 10946 on 19/12 which was broken on 21/12 & it completed the 2 ATR move down to 10712 on 24/12
    • NF tagged the 2 ATR move down of 10655 today from the FA at 10891 it had left on 20/12
    • The VWAP & POC of Nov Series 10480 & 10580 respectively. It tagged the VWAP on 11/12 but closed above it
    • The VWAP & POC of 31/10 10250 & 10248 will be important levels going forward

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 10537-10582-10663

Hypos / Estimates for the next session:

a) Auction can test 10790-796 if sustains above 10755
b) Immediate support is at 10720-715 zone
c) below 10715 the auction can do 10680
d) Lower support is at 10637


BankNifty Dec F:

Bnf Compo1 24 Market Profile Analysis Dated 26Th Dec Banknifty Futures, Charts, Day Trading, Intraday Trading, Intraday Trading Strategies, Market Profile, Market Profile Trading Strategies, Nifty Futures, Order Flow Analysis, Support And Resistance, Technical Analysis, Trading Strategies, Volume Profile Trading

As mentioned in the previous report, BNF continued the imbalance to the downside by opening with a gap down of 90 points & driving lower in the ‘A’ period breaking below the extension handle of 26580 & tagging that VPOC of 26530. It also got into the buying tail of 12/12 which was from 26480-26297 but the selling began to appear a bit stretched when the ‘B’ period could make a range of just 50 points compared to the opening 30 min range of 250 points. Then, just like NF did, BNF also made a new low in the ‘C’ period of 26439 but got rejected back into the IB & went on to make an outside bar closing above VWAP which indicated that the morning drive down has failed hence a probe is on for the morning highs. BNF then trended higher though in relatively smaller range till the ‘I’ period when BNF gave an intra-day breakout above the pull back high of 26610 & triggered a huge short covering rally which saw BNF breaking above IBH by leaving an extension handle at 26728 & confirming a FA at lows. 26744 was the 1 ATR target of that FA & BNF gave an explosive move after tagging that leaving singles from 26757 to 26860. BNF continued to trend higher above previous week’s high of 26888 leaving another extension handle at 26940 to complete the 2 ATR move of 27048 from today’s FA & closing in a spike of 26983-27070. Immediate support in BNF will be the zone of 26983-26940 & on the upside BNF will have to get above the trend day VWAP of 27110 to move higher.

  • The BNF Open was a OAOR + Drive (Down)
  • The day type was a Neutral Extreme Day (Up)
  • Largest volume was traded at 26520 F
  • Vwap of the session was at 26696 with volumes at 36.8 L in a session which traded a High-Low range of 27070-26439 for a range of 630 points
  • The Trend Day VWAP of 21/12 at 27110 will now be strong resistance
  • BNF confirmed a FA today at 26439 & completed the 2 ATR target of 27048 today itself
  • BNF had confirmed a FA at 27271 on 17/12 which it broke on 21/12 & completed the 2 ATR target of 26673 today
  • BNF had confirmed a multi-day FA at 26770 on 17/12 and tagged the 1 ATR target of 27058 as well as the 2 ATR of 27346.This FA got tagged today on 24/12 T+6 days
  • BNF had left a FA at 26453 on 10/12 and tagged the 2 ATR target of 25927 on 11/12. It got back above this FA on 12/12 at T+2 days & completed the 2 ATR move at 26976 on the upside on 13/12. This is now important support.
  • BNF had confirmed a multi-day FA on 05/12 at 26745 and tagged the 2 ATR target of 26237 on 06/12. BNF tagged & closed above this FA on 12/12 which was T+5 Days and tagged the 1 ATR move up of 26999 on 13/12
  • BNF has stayed above the vwap of 17/10 which was 25500 and is now support
  • We had a FA at 24625 on 31/10 which has completed 1 ATR of 25102 & has stayed above the 2 ATR of 25575
  • The VWAP & POC of Nov Series 25686 & 26218 (Spot) respectively
  • 31st October’s VWAP of 24895 & POC of 24900 will be important levels going forward

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 26440-26520-26866

Hypos / Estimates for the next session:

a) Auction has immediate support at 26983-26940
b) Below 26940, BNF can test 26860 & 26780
c) Above 27110, auction can probe higher to tag 27210-27280

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