Market Profile Analysis dated 26th Feb

Nifty Feb F:

NF opened with a big gap down of 97 points making a low of 10788 at open and then probed higher retracing 50% of the gap but got rejected at yVWAP after which it drove lower breaking below 10788 and went on to tag 10725 in the ‘B’ period leaving a big IB of 118 points. (Click here to view the profile chart for better understanding) The ‘C’ period could not extend the range lower and got back above VWAP signalling a failed drive lower which meant that the day high could get tagged and this also triggered a OTF move upside for the next 5 periods as NF made a high of 10874 in the ‘H’ period after making an outside bar in the ‘G’ period as it left a pull back low at 10816. The next 2 periods ‘I’ & ‘J’ stayed inside the range of ‘G’ after which NF made a fresh range extension in the ‘K’ period where it made a new high of 10893 but failed to tag the 1.5 IB extension inspite of staying above IBH for considerable time and this led the ‘L’ period to probe lower with the auction first breaking below the developing VAH and then went on to break the ‘K’ period lows and then the IBH to tag the dPOC & VWAP where it seems to have found support. NF has made a nice balanced profile for the day with small tails at both ends (3-1-3 profile) and has closed around the 2 day overlapping POC of 10824.

Nf Compo1 18 Market Profile Analysis Dated 26Th Feb 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 big gap down plus a Open Test Drive (Down)
  • The day type was a Normal Variation Day (Up) (3-1-3 profile)
  • Largest volume was traded at 10824 F
  • Vwap of the session was at 10820 with volumes of 162.4 L in a session which traded a High-Low range of 10893-10725 for a range of 168 points
  • NF confirmed a multi-day FA at 10946 on 12/02 and completed the 2 ATR move down of 10699. This FA has not been tagged and could now act as strong resistance
  • NF had left a FA at 10580 on 26/12 & completed the 2 ATR move up to 10862. This FA has not been tagged and is now strong support
  • The Trend Day VWAP & POC of 06/02 11046 & 11035 was broken on 08/02 and the closed below them so now they are no longer support levels
  • The Trend Day VWAP & POC of 31/01 is at 10793 & 10775
  • The VWAP & POC of Jan Series is 10795 & 10823 respectively.
  • The VWAP & POC of Dec Series is 10796 & 10741 respectively.
  • The VWAP & POC of Nov Series is 10480 & 10580 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 10785-10824-10869

Hypos / Estimates for the next session:

a) NF staying below 10820-816 at open can probe lower to test 10800 & 10782
b) Above 10833-840, the auction can probe higher to 10858-869 and 10897-905
c) Below 10782, NF would get weak for a move lower to 10764 and 10743
d) If NF gets above 10905-913 and sustains, it can tag higher levels of 10927-946 above which it can test the extension handle of 10963
e) 10725 is now an important support in NF which if broken can open downside of 10701-690 and 10663


BankNifty Feb F:

Bnf Compo1 17 Market Profile Analysis Dated 26Th Feb 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

BNF opened with a huge gap down of 340 points to make a OL start of 26830 and gave a bounce to get back into the previous day’s range almost tagging the yPOC of 27050 as it made a high of 27027 retracing the big gap down by exactly 50% indicating that the inventory which could have gone too short at open is being adjusted. The auction then reversed to the downside in a swift move to take out the OL of 26830 and move lower to make a low of 26740 in the ‘B’ period giving a big IB of 283 points. (Click here to view the profile chart for better understanding) The ‘C’ period saw BNF getting above the ‘B’ period highs and confirming singles at lows from 26785 to 26740 and went on to close above VWAP which indicated that the PLR could have turned to the upside. The auction then continued to probe higher making higher highs till the ‘G’ period where it even left a pull back low at 26884 as it got above the IBH to make a new day high of 27072. BNF then made a balance over the next 3 periods as it stayed inside the range of ‘G’ and left a higher pull back low of 26955 in the ‘I’ period after which the ‘K’ period saw BNF giving a fresh move to the upside as it made new highs of 27144 but just stopped short of the 1.5 IB range extesion of 27170 which was also incidentally the previous week’s high. BNF then went on to confirm a tail at top also as it made a lower high of 27096 in the ‘L’ period and probed lower to break below IBH & the ‘K’ period lows and went on to tag the VWAP with a close around it. It has given a 3-1-3 profile for the day and on a bigger time frame BNF has been making a nice Gaussian profile from 13th Feb which looks to be near completion and can give a move away from this balance soon.

  • The BNF Open was a big gap down plus a Open Test Drive (Down)
  • The day type was a Normal Variation Day (Up) (3-1-3 profile)
  • Largest volume was traded at 26813 F
  • Vwap of the session was at 26938 with volumes at 34 L in a session which traded a High-Low range of 27144-26740 for a range of 404 points
  • BNF confirmed a multi-day FA at 26700 on 20/02 and tagged the 1 ATR move up at 26994. The 2 ATR move up comes to 27288.
  • BNF confirmed a FA at 27384 on 12/02 and tagged the 2 ATR move down at 26736 on 15/02. This FA is now strong resistance.
  • BNF confirmed a FA at 27716 on 23/1 and completed the 2 ATR move down hence is now strong resistance
  • The VWAP & POC of Jan Series 27236 & 27514 respectively. The auction has closed below both of them.
  • The VWAP & POC of Dec Series 26713 & 26832 respectively.
  • The VWAP & POC of Nov Series 25686 & 26218 (Spot) 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 26744-276813-26981

Hypos / Estimates for the next session:

a) BNF staying above 26950 could probe higher to 27030 and 27095
b) Below 26940, the auction can move down to 26892-885 and 26835
c) Above 27096, BNF can test higher levels of 27144-170 and 27210
d) BNF gets weak below 26835 and could fall to 26780 and 26720-700

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