Market Profile Analysis dated 27th January 2021

Nifty Jan F:  13982 [ 14208 / 13933 ]

NF opened lower below the spike zone of 14233 to 14263 and remained below the weekly VPOC of 14222 and made a trending move lower all day after giving a PBH at 14179 in the ‘E’ period as it left an extension handle at 14071 confirming the break of the positional support of 14077 (FA from 5th Jan which had not been visited) which triggered a fresh leg down in the afternoon as the auction made new lows of the series at 13933 almost tagging the 3 IB objective of 13929 in the ‘K’ period which saw good profit booking by the shorts as NF gave a retracement to 14018 before closing the day at 13980 where the dPOC had also shifted leaving a Double Distribution Trend Day Down. Value was completely lower so the PLR remains to the downside with 13980 being the important reference on watch for the next open.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Double Distribution Trend Day – Down (DD)
  • Largest volume was traded at 13980 F
  • Vwap of the session was at 14084 with volumes of 154.7 L and range of 275 points as it made a High-Low of 14208-13933
  • 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 got broken on 27/01 and is no longer 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 13933-13980-14194

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


BankNifty Jan F:  30328 [ 31250 / 30177 ]

BNF made an ORR start as it got rejected from 31250 at open to give a move away from the 2-day Value of 31113-31206-31626 as it went on to make new lows for the series in the IB at 30801 and left a big initiative selling tail from 30958 tp 31250. The auction however looked too streched on the downside which resulted in a good short covering move over the next 3 periods as BNF got into the morning singles and went on to re-enter the 2-day composite Value but got rejected from the POC of 31206 as it left a PBH at 31228 in the ‘E’ period setting up a trending move lower over the next 6 periods as BNF made a fresh RE to the downside in the ‘F’ period and left an extension handle at 30661 in the ‘I’ period as it went on to enter the buying tail of 24th Dec 2020 and made a low of 30177 in the ‘K’ period. The auction then gave a small bounce to 30403 before closing at the dPOC of 30335 leaving a Double Distribution Trend Day Down.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Rejection Reverse – Down (ORR)
  • The Day type was a Double Distribution Trend Day – Down (DD)
  • Largest volume was traded at 30335 F
  • Vwap of the session was at 30714 with volumes of 64.2 L and range of 1073 points as it made a High-Low of 31250-30177
  • 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 30178-30335-30921

HVNs – 31410 / 31900 / 32151* / 32406 / 32686

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