Market Profile Analysis dated 28th January 2021

Nifty Feb F:  13844 [ 13935 / 13744 ]

NF opened with a big gap down and formed a big 95 point range from 13935 to 13840 in the ‘A’ period after which it settled down into an OAOR (Open Auction Out of Range) with the auction forming a balance in this range till the ‘F’ period where it made a RE lower followed by couple of big REs over the next 2 periods as it completed the 2 IB objective of 13745 to the dot in the ‘H’ period which in turn led to good profit booking as NF got back above the day’s VWAP and left a PBH (Pull Back High) at 13880 before closing the day around the dPOC of 13849 leaving a balanced profile for the day which could mark the end of the imbalance to the downside.

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 – Down (NV)
  • Largest volume was traded at 13849 F
  • Vwap of the session was at 13848 with volumes of 127.9 L and range of 191 points as it made a High-Low of 13935-13744
  • The settlement day Roll Over point (Feb) is 13809
  • The VWAP & POC of Jan Series is 14320 & 14569 respectively.
  • The VWAP & POC of Dec Series is 13528 & 13528 respectively.
  • The VWAP & POC of Nov Series is 12554 & 12862 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 13828-13849-13902

HVNs – 14015 / 14172


BankNifty Feb F:  30365 [ 30485 / 29752 ]

BNF also opened with a big gap down and settled down into an OAOR and similar to NF formed a huge range of 383 points in the A period getting rejected at the new lows of 29752 as it left a long buying tail in the IB from 29970 to 29752. The auction then made the dreaded C side extension as it made new highs of 30216 but was swiftly rejected leading to a mini balance being formed before BNF made another attempt to break above IBH in the ‘G’ period but could only make a lower high of 30189 and this triggered a quick fall of 420 points into the ‘H’ period as the morning buying tail was almost fully negated but left a PBL at 29769 after which the auction spiked higher into the close as it finally closed the gap down while making new highs of 30485 before closing the day at 30365. Spike Rules will be in play for the next open & the reference would be from 30244 to 30485.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Normal Variation Day – Up (with a spike close)
  • Largest volume was traded at 30050 F
  • Vwap of the session was at 30063 with volumes of 35 L and range of 733 points as it made a High-Low of 30485-29752
  • The settlement day Roll Over point (Feb) is 30445
  • The VWAP & POC of Jan Series is 31682 & 32062 respectively.
  • The VWAP & POC of Dec Series is 30270 & 30766 respectively.
  • The VWAP & POC of Nov Series is 28104 & 29565 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 29893-30050-30209

HVNs – 30041

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