Market Profile Analysis dated 27th November 2020

Nifty Dec F:  13017 [ 13094 / 12966 ]

NF opened in the spike zone of 12994 to 13052 and was rejected in an attempt to probe higher from 13065 after which it went on to test the other end of the spike but once again got rejected after it made a low of 12988 in the ‘B’ period indicating absence of any initiative players as the auction formed a balance till the ‘F’ period. The ‘G’ period then made a RE (Range Extension) on the upside as NF got into the selling singles of the Trend Day of 25th Nov which was from 13088 to 13122 but once again the supply got better of the demand as it could only make a high of 13094 from where the probe reversed to the downside for the rest of the day and even resulted in a late RE to the downside in the ‘L’ period as the auction made a swipe down to 12966 but immediately got back into the IB playing out the 45 Degree Rule as it tagged the day’s prominent POC of 13030 leaving a Neutral Centre Day with higher Value and small rejections at both ends. There is a good chance of a move away from this balance in the coming session provided one of today’s rejection is negated.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction (OA)
  • The Day type was a Neutral Day (NeuD)
  • Largest volume was traded at 13030 F
  • Vwap of the session was at 13030 with volumes of 119.7 L and range of 128 points as it made a High-Low of 13094-12966
  • The settlement day Roll Over point (Dec) is 12974
  • The VWAP & POC of Nov Series is 12554 & 12862 respectively.
  • The VWAP & POC of Oct Series is 11793 & 11897 respectively.
  • The VWAP & POC of Sep Series is 11353 & 11560 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 12996-13030-13051

HVNs – 13084


BankNifty Dec F:  29667 [ 29780 / 29382 ]

BNF opened higher at 29650 and built volumes around it all day forming a Normal Profile with overlapping to higher Value but stayed within a narrow range of just 398 points as it made a low of 29382 in the ‘B’ period from where it made a probe higher to leave a high of 29780 in the ‘G’ period. On the larger timeframe, we have a nice 4-day composite with Value at 29399-29660-29738 and BNF could give a move away from this balance in the coming session(s).

Click here to view the 4 day composite in BNF on MPLite

  • The BNF Open was a Open Auction (OA)
  • The Day type was a Normal Day
  • Largest volume was traded at 29650 F
  • Vwap of the session was at 29604 with volumes of 67 L and range of 398 points as it made a High-Low of 29780-29382
  • BNF confirmed a FA at 29000 on 26/11 and tagged the 1 ATR objective of 29677 on the same day. The 2 ATR target comes to 30355.
  • The settlement day Roll Over point (Dec) is 29629
  • The VWAP & POC of Nov Series is 28104 & 29565 respectively.
  • The VWAP & POC of Oct Series is 23740 & 24468 respectively.
  • The VWAP & POC of Sep Series is 22320 & 22320 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 29548-29650-29711

HVNs – 30100

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