Market Profile Analysis dated 28th December 2020

Nifty Dec F:  13890 [ 13903 / 13802 ]

NF made a big gap up open and stayed above the negated FA and previous swing high of 13785 as it left a buying tail in the IB (Initial Balance) from 13827 to 13802 confirming that the PLR (Path of Least Resistance) for the day remained to the upside after which it formed a narrow range ‘p’ shape profile for the day while making multiple REs higher to record new ATH (All Time High) of 13903 before closing the day at 13890 which means the imbalance to the upside is still not over. Today’s POC of 13850 would be the important reference on the downside for the next session as the auction attempts to complete the 2 ATR objective of 13983 from Thursday’s FA of 13641.

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 Normal Variation Day – Up (‘p’ profile)
  • Largest volume was traded at 13850 F
  • Vwap of the session was at 13867 with volumes of 64.2 L and range of 101 points as it made a High-Low of 13903-13802
  • NF confirmed a FA at 13641 on 24/12 and tagged the 1 ATR objective of 13812 on 28/12. The 2 ATR target from this FA comes to 13983.
  • NF confirmed a FA at 13222 on 22/12 and tagged the 2 ATR objective of 13547 on 23/12.
  • NF confirmed a FA at 13784 on 21/12 and tagged the 2 ATR objective of 13527 on the same day. This FA was revisted on 24/12 on ‘T+3’ Days.
  • 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 13839-13850-13890

HVNs – 13020 / 13084 / 13190 / 13440 / 13570*


BankNifty Dec F:  30928 [ 30975 / 30552 ]

BNF once again opened with a gap up plus a drive with an OL (Open=Low) start at 30552 as it breezed past the expected objectives of 30689 & 30792 in the IB itself where it left initiative singles from 30743 to 30552 which was tested in the C period as it left a PBL at 30723 and post a brief consolidation started a fresh probe higher from the ‘F’ period onwards as it made multiple REs till the ‘J’ period making a high of 30964. The ‘K’ period then saw an inventory adjustment move as the auction made a retracement to the day’s VWAP leaving another PBL for the day at 30837 after which it went on to make new highs for the day at 30975 before closing the day around the dPOC of 30933 leaving yet another ‘p’ shape profile with completely higher Value. BNF needs to sustain above 30933 to continue the probe higher and record new highs for this series and on the downside, the zone of 30780 to 30840 could attract fresh demand.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auction Out of Range plus a Drive (OAOR + D)
  • The Day type was a Normal Variation Day – Up (‘p’ profile)
  • Largest volume was traded at 30933 F
  • Vwap of the session was at 30844 with volumes of 31 L and range of 423 points as it made a High-Low of 30975-30552
  • BNF confirmed a FA at 29000 on 26/11 and tagged the 2 ATR objective of 30355 on 07/12. This FA got tagged on 22/12 & held validating the positional support.
  • 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 30784-30933-30967

HVNs – 29650* / 30100 / 30300 / 30798

For more tradeable ideas and intraday trading strategies based on MarketProfile and the OrderFlow live charts with OrderFlow analysis Live, subscribe to the trading room. The Vtrender Trading Room hosts India’s largest MarketProfile community live every trading session from 9.15 am to 3.30 pm.

If not a Trading Room member you can get immediate access at – https://www.explara.com/e/vtrendertradingroomlive