Market Profile Analysis dated 28th May 2020

Nifty Jun F:  9428 [ 9449 / 9299 ]

HVNs – 9093 / 9275 / 9433

NF continued the imbalance of previous day at the open but then settled down to form a ‘p’ shape profile with a prominent POC at 9424 so would need fresh volumes above this to continue the probe higher.

  • The NF Open was a Open Test Drive (Up)  (OTD) on low volumes
  • The day type was a Normal Variation Day – Up (NV)
  • Largest volume was traded at 9424 F
  • Vwap of the session was at 9400 with volumes of 127.2 L and range of 149 points as it made a High-Low of 9449-9299
  • The Trend Day VWAP of 9165 would be important support level.
  • The settlement day Roll Over point (Jun) is 9426
  • The VWAP & POC of May Series is 9183 & 9109 respectively.
  • The VWAP & POC of Apr Series is 8999 & 9010 respectively.
  • The VWAP & POC of Mar Series is 9146 & 8592 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 9383-9425-9440

Main Hypos for the next session:

a) NF needs to sustain above 9433 for a rise to 9450-74 / 9495-99 / 9510-30 / 9555-59 / 9574-94 & 9616-25
b) The auction staying below 9425 could test 9400 / 9384-72 / 9348 / 9310-9292 / 9275 & 9248-42

Extended Hypos:
c) Above 9625, NF can probe higher to 9653-70 / 9721-50 / 9772-78 / 9796-9800 & 9822
d) Below 9242, the auction can fall further to 9216-04 / *9177-65* / 9135-08 / 9093* & 9070-40


BankNifty Jun F:  19029 [ 19349 / 18721 ]

HVNs – 17800 / 19000 / 19186

BNF has also made a ‘p’ shape profile for the day with higher Value but needs fresh volumes above 19000 to start a new leg to the upside.

  • The BNF Open was a Open Test Drive (Up)  (OTD) on low volumes
  • The day type was a Normal Day (‘p’ profile)
  • Largest volume was traded at 19000 F
  • Vwap of the session was at 19091 with volumes of 41.9 L and range of 629 points as it made a High-Low of 19349-18721
  • The Trend Day VWAP of 18138 would be important support level.
  • The settlement day Roll Over point (Jun) is 19035
  • The VWAP & POC of May Series is 18767 & 19633 respectively.
  • The VWAP & POC of Apr Series is 19605 & 19710 respectively.
  • The VWAP & POC of Mar Series is 22104 & 20248 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 18994-19000-19211

Main Hypos for the next session:

a) BNF needs to sustain above 19030 for a rise to 19080 / 19152-186 / 19260-330 / 19450-480 / 18560-650* & 19750-812
b) The auction staying below 19000 could test 18954 / 18882-825 / 18780-720 / 18666-625 / 18535-450 & 18330-250

Extended Hypos:
c) Above 19812, BNF can probe higher to 19850 / 19940-995 / 20103-140 / 20220 / 20324-396 & 20430
d) Below 18250, lower levels of 18198-138 / 18072-18 / 17960 / 17865-856 / 17800*-760 & 17648-632 could come into play

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