Market Profile Analysis dated 27th November

Nifty Nov F: 12108 [ 12125/ 12073 ]

HVNs – 11814 / 11852 / ( 11901) / 11914 / 11978 / 12020 / *12085-100*

NF made an inside day today both in terms of range as well as Value as it tested both sides of the previous day’s 3-1-3 profile but could not negate any of the two rejections making the narrowest daily range of just 52 points of this series as it left a Neutral Day which was also a nice Gaussian profile with a prominent POC at 12100 and has a good chance of moving away from this on the expiry day.

(Click here to view the 3-day composite ‘p’ profile)

(Click here to view the November series Composite)

  • The NF Open was an Open Auction In Range (OAIR)
  • The day type was a Neutral Day  (Gaussian profile)
  • Largest volume was traded at 12100 F
  • Vwap of the session was at 12098 with volumes of 93 L and range of 52 points as it made a High-Low of 12125-12073
  • The Trend Day VWAP of 25/11 at 12023 will be important reference on the downside. This was tagged on 26/11 and broken briefly but was swiftly rejected so proves to be support.
  • The Trend Day VWAP of 29/10 at 11810 will be important reference on the downside.
  • NF confirmed a multi-day FA at 11465 on 16/10 and completed the 2 ATR move up of 11776. This FA has not been tagged since & hence is now positional support
  • NF confirmed a FA at 11503 on 17/10 and completed the 2 ATR move up of 11808. This FA has not been tagged since & hence is now positional support
  • NF confirmed a FA at 11162 on 09/10 and completed the 2 ATR move up of 11554.  This FA has not been tagged since & hence is now positional support
  • The settlement day Roll Over point (Nov) is 11970
  • The VWAP & POC of Oct Series is 11461 & 11365 respectively.
  • The VWAP & POC of Sep Series is 11127 & 10960 respectively.
  • The VWAP & POC of Aug Series is 10966 & 10984 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 12088-12100-12112

Hypos / Estimates for the next session:

a) NF needs to take out the supply at 12120-125 for a move to 12148 / 12166 & 12185-199
b) Immediate support is at 12100 below which the auction could test 12085-74 / 12050-30 & 12012
c) Above 12199, NF can probe higher to 11215-233 / 12248-255 & 12282
d) Below 12012, auction becomes weak for 11997-994 / 11978-960 & 11940
e) If 12282 is taken out, the auction go up to to 12310 / 12340 & 12375-384
f) Break of 11940 can trigger a move lower to 11914*-11901 / 11885 & 11860-852*


BankNifty Nov F: 31872 [ 31898 / 31705 ]

HVNs – 31020 / 31145/ (31290) / 31330-360 / 31530-580 / 31640 / 31800 / (31890)

BNF opened higher & stayed above previous day’s Value but like NF left the narrowest daily range of just 193 points forming a nice balance for most part of the day and also confirmed a fresh FA (Failed Auction) at 31705 as the day closed as a Neutral Extreme profile making highs of 31898 almost tagging the 2 ATR objective of the earlier FA of 30860. Value was higher for the day & the FA will be the new trigger for a new leg to the upside in the session(s) to come.

(Click here to view BNF make higher Value after moving away from the 4-day composite)

  • The BNF Open was an Open Auction (OA)
  • The day type was a Neutral Extreme Day – Up (NeuX)
  • Largest volume was traded at 31800 F
  • Vwap of the session was at 31791 with volumes of 23.4 L and range of 193 points as it made a High-Low of 31898-31705
  • BNF confirmed a FA at 31705 on 27/11 and the 1 ATR target comes to 32141.
  • The Trend Day VWAP of 25/11 at 31356 will be important reference on the downside.
  • The Trend Day VWAP of 06/11 at 30447 will be important reference on the downside.
  • BNF had confirmed a FA at 30052 on 06/11 and tagged the 2 ATR target of 31049 on 08/11. This FA has not been tagged since & hence is now positional support
  • The Trend Day VWAP of 29/10 at 29945 will be important reference on the downside. This was tagged on 30/10 and broken but was swiftly rejected so proves to be support.
  • BNF confirmed a FA at 27900 on 09/10 and completed the 2 ATR move up of 29779. This FA has not been tagged since & hence is now positional support
  • The settlement day Roll Over point (Nov) is 30150
  • The VWAP & POC of Oct Series is 28784 & 28415 respectively.
  • The VWAP & POC of Sep Series is 28416 & 27160 respectively.
  • The VWAP & POC of August Series 27858 & 27960 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 31748-31800-31826

Hypos / Estimates for the next session:

a) BNF needs to sustain above 31890-908 for a rise to 32001 / 32045-58 & 32107-141
b) Immediate support is at 31840 below which the auction could test 31800 / 31735-728 & 31650*-638
c) Above 32141, BNF can probe higher to 32197-213 / 32277-299 & 32341-359
d) Below 31638, lower levels of 31590-580 / 31532 & 31450 could be tagged
e) If 32359 is taken out, BNF can give a fresh move up to 32465-503 / 32607 & 32648
f) Below 31450, we could see lower levels of 31393 / 31355-330 & 31280-269

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