Market Profile Analysis dated 29th April 2021

Nifty May F:  14932 [ 15085 / 14867 ]

NF opened with a big gap up and continued to probe higher in the ‘A’ period as it tagged 15084 stalling just below the 8th Apr highs of 15091 from where the auction had started that leg down to 14202 and hence was a positional reference as the B period confirmed a small selling tail at top and made lower lows indicating that the upside move could be over. The ‘C’ period then made a RE (Range Extension) lower as NF got back into previous day’s range & Value and followed it up with another extension in the ‘D’ as it entered the previous day’s DD (Double Distribution) singles of 14878 to 14827 but stopped just above the Trend Day VWAP of 14862 signalling the return of demand in this zone. The auction then formed a balance for the rest of the day as it left a small tail at low from 14884 to 14867 along with a PBH (Pull Back High) at 15005 before closing the day right at the prominent POC of 14927. Value was mostly higher for the day but the rejection from previous positional reference means the imbalance from 22nd April could be over and NF could start forming a balance in the coming sessions with a probable move towards the VPOC of 14697 if it remains below 14927.

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 (Balanced profile)
  • Largest volume was traded at 14927 F
  • Vwap of the session was at 14962 with volumes of 90.2 L and range of 218 points as it made a High-Low of 15085-14867
  • The settlement day Roll Over point (May) is 14925
  • The VWAP & POC of Apr Series is 14577 & 14374 respectively.
  • The VWAP & POC of Mar Series is 14816 & 14737 respectively.
  • The VWAP & POC of Feb Series is 14893 & 15115 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 14919-14927-14989

HVNs – 14896 / 14997 


BankNifty May F:  33807 [ 34412 / 33426 ]

BNF continued the previous day’s imbalance as it not only opened higher but went on to scale above 1st Apr highs of 34349 forming new highs for April at 34412 but could not sustain above 34349 leading to a big liquidation move in the ‘B’ period itself as it got back into previous day’s range and tested the DD singles of 33592 to 33313 leaving a relatively large IB range of 856 points. The auction made an attempt to probe lower in the ‘D’ period as it made new lows of 34426 but got rejected from the Trend Day VWAP of 33505 as it left a small tail at lows and got back into the IB and remained in it for the rest of the day forming a balanced profile and a Normal Day with a close right at the prominent POC of 33790 which was almost overlapping with the yPOC too and will be the reference for the next open for a move away from here. Today’s PBH of 34059 would be the level to watch on the upside whereas on the downside, an effective break of 33503 could bring about a test of 33091 & 32862 in the coming session(s).

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 Day (Balanced profile)
  • Largest volume was traded at 33790 F
  • Vwap of the session was at 33856 with volumes of 31.2 L and range of 987 points as it made a High-Low of 34412-33426
  • The settlement day Roll Over point (May) is 33765
  • The VWAP & POC of Apr Series is 33212 & 32490 respectively.
  • The VWAP & POC of Mar Series is 34618 & 33870 respectively.
  • The VWAP & POC of Feb Series is 35530 & 35820 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 33628-33790-33991

HVNs – 32615

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