Market Profile Analysis dated 27th October 2020

Nifty Oct F:  11879 [ 11894 / 11723 ]

NF made a higher open right at yVWAP with a OH (Open=High) start at 11811 and made an attempt to drive lower as it broke below the HVN of 11785 and went on to make a low of 11723 in the ‘A’ period stalling just above the PDL from where it made a swift recovery as it first got back above the day’s VWAP and almost matched the OH in the ‘B’ period thus negating the bearish open and this triggered a OTF (One Time Frame) probe higher all day as the auction went on to tag the series POC of 11890 as expected before closing the day at 11879. Both the range as well as value for the day was inside the previous DD profile as NF continues to form a larger time frame balance over the last 15 days with Value at 11815-11890-11984 and the composite chart can be viewed here.

Click here to view NF form an inside day filling up the DD profile on MPLite

  • The NF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Variation Day – Up (NV)
  • Largest volume was traded at 11877 F
  • Vwap of the session was at 11818 with volumes of 111.8 L and range of 171 points as it made a High-Low of 11894-11723
  • NF confirmed a FA at 12017 on 21/10 and tagged the 2 ATR objective of 11742 on the 27/10. This FA is currently on ‘T+5’ Days.
  • NF confirmed a FA at 10857 on 25/09 and tagged the 2 ATR objective of 11165 on 28/09. This FA has not been tagged and is now positional support.
  • The settlement day Roll Over point (Oct) is 10830
  • The VWAP & POC of Sep Series is 11353 & 11560 respectively.
  • The VWAP & POC of Aug Series is 11311 & 11311 respectively.
  • The VWAP & POC of Jul Series is 10897 & 10803 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 11798-11877-11888

HVNs – 10962 / 11220* / 11425 / 11590 / 11740 / 11890* / 11942

Hypos for 28.10.2020:

a) NF needs to sustain above 11890 for a rise to 11920-952 / 11985 / 12027-070 & 12121
b) The auction staying below 11866 could test 11830-817 / 11785-765 / 11715 & 11680-655


BankNifty Oct F:  24741 [ 24797 / 23895 ]

BNF opened higher but similar to NF gave an OH start at 24311 and went on to drive lower as it fell by more than 400 points in the opening 15 minutes taking support at 23895 which was just above the PDL of 23850 from where it not only retraced the entire drop but went on to make new highs for the day at 24358 in the ‘B’ period leaving a relatively big IB range of 464 points. The auction then made a slow but steady OTF probe higher all day as it made multiple REs taking out the PDH with the help of an extension handle at 24520 in the ‘H’ period and almost tagged the VPOC of 24800 while making a high of 24797 in the closing 30 minutes to leave a Trend Day Up. However, the dPOC for the day shifted higher at 24728 suggesting that the longs have been booking profits.

Click here to view the Trend Day Up in BNF on MPLite

  • The BNF Open was a Open Auction In Range (OAIR)
  • The Day type was a  Trend Day – Up (TD)
  • Largest volume was traded at 24730 F
  • Vwap of the session was at 24444 with volumes of 78.5 L and range of 902 points as it made a High-Low of 24797-23895
  • BNF had confirmed a FA at 20431 on 25/09 and tagged the 2 ATR objective of 21490 on 28/09. This FA has not been tagged and is now positional support.
  • The settlement day Roll Over point (Oct) is 20490
  • The VWAP & POC of Sep Series is 22320 & 22320 respectively.
  • The VWAP & POC of Aug Series is 22444 & 21595 respectively.
  • The VWAP & POC of Jul Series is 22163 & 22087 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 24406-24728-24795

HVNs – 20538 / 20822 / 21400* / 22090 / 22640* / 22890 / 23330* / 23730 / 24350 / 24528*

Hypos for 28.10.2020:

a) BNF needs to sustain above 24770 for a rise to 24860-936 / 25008 / 25105-165 / 25251-325 & 25402-499
b) The auction staying below 24675 could test 24609-530 / 24475-390 / 24325-225 / 24148-037 & 23952

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