Market Profile Analysis dated 27th August 2020

Nifty Sep F:  11580 [ 11623 / 11561 ]

NF opened higher and remained above previous day’s spike as it made highs of 11623 in the ‘A’ period but settled down as an OAOR start and formed a balance in a narrow range of 45 points for most part of the day as it left a PBH (Pull Back High) at 11617 in the ‘G’ period before making an attempt to break lower in the ‘I’ period as it made new lows of 11562 but could not complete even the 1.5 IB objective indicating lack of any big seller. The auction then made a retracement to the day’s VWAP but got rejected from there leading to another marginal new low of 11561 in the ‘L’ period as it left poor lows indicating exhaustion which triggered a short squeeze to VWAP into the close as NF left a Normal Day and a balanced profile with completely higher Value.

Click here to view the latest profile chart of NF on MPLite

  • The NF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Normal Day (Gaussian profile)
  • Largest volume was traded at 11601 F
  • Vwap of the session was at 11591 with volumes of 81.8 L and range of 62 points as it made a High-Low of 11623-11561
  • The settlement day Roll Over point (Sep) is 11607
  • The VWAP & POC of Aug Series is 11278 & 11311 respectively.
  • The VWAP & POC of Jul Series is 10897 & 10803 respectively.
  • The VWAP & POC of Jun Series is 10110 & 10110 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 11583-11601-11611

HVNs – 11485

Main Hypos for 28.08.2020:

a) NF needs to sustain above 11588 for a rise to 11611-631* / 11675-698 & 11731
b) The auction staying below 11570 could fall to 11539-519 / 11500-486* & 11451-420

Extended Hypos:
c) Above 11731, NF can probe higher to 11764 / 11792-800 & 11829-850*
d) If 11420 is taken out, NF could fall to 11404* / 11375-345* & 11310


BankNifty Sep F:  23602 [ 23671 / 23436 ]

BNF continued to give a move away at open for the fourth consecutive day this week as it left a buying tail from 23529 to 23436 in the narrow IB range of just 189 points and went on to make multiple REs higher from ‘F’ to the ‘H’ period but could not even tag the 1.5 IB extension indicating poor trade facilitation as the auction settled down to form a ‘p’ shape profile for the day leaving poor highs at 23671 as it made yet another attempt to probe higher in the ‘L’ period before closing the day at the dPOC of 23600.

Click here to view the latest profile in BNF on MP Lite

  • The BNF Open was a Open Drive – Up (OD) [on low volumes]
  • The Day type was a Normal Day (‘p’ shape profile)
  • Largest volume was traded at 23600 F
  • Vwap of the session was at 23599 with the lowest volumes of this series at 23.9 L and range of 235 points as it made a High-Low of 23671-23436
  • The settlement day Roll Over point (Sep) is 23576
  • The VWAP & POC of Aug Series is 22091 & 21595 respectively.
  • The VWAP & POC of Jul Series is 22163 & 22087 respectively.
  • The VWAP & POC of Jun Series is 20918 & 21000 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 23550-23600-23620

HVNs – 21590 / 22175 / 22260

Main Hypos for 28.08.2020:

a) BNF needs to sustain above 23600 for a rise to 23660-726 / 23790 / 23845-894 / 23991 & 24100-136
b) The auction accepting below 23576 could test 23520-445 / 23400-349 / 23293-219* / 23165-129 & 23065*

Extended Hypos:

c) Above 24136, BNF can probe higher to 24265-300 / 24435-460 / 24540-600 & 24735-750
d) Breaking below 23065, it could fall to 22998-900 / 22800*-721 / 22621-573 & 22465-450

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