Market Profile Analysis dated 29th August

Nifty Sep F:  11002 [ 11079 / 10953 ]

NF had attempted to probe above the composite it was forming in August & was rejected and promptly completed the 80% Rule in the monthly composite as it tagged the VAL of the composite today and in the process confirmed a FA (Failed Auction) at highs rounding off the month to close at the VWAP of the series forming a nice balance. The composite Value for the September Futures is at 10971-11007-11127 and the auction looks good for a trending move away from this balance in the new series.

  • The NF Open was an Open Auction (OA)
  • The day type was a Normal Variation Day – Down (‘3-1-3’ profile)
  • Largest volume was traded at 11010 F
  • Vwap of the session was at 11014 with volumes of 165 L and range of 126 points as it made a High-Low of 11079-10953
  • NF confirmed a FA at 11079 on 29/08. The 1 ATR objective from this FA is at 10906
  • The Trend Day POC & VWAP of 26/08 at 10886 10951 would be important references on the downside.
  • The Trend Day POC & VWAP of 19/07 at 11478 11523 are now positional references on the upside.
  • The higher Trend Day VWAP of 05/07 at 11965 is another important reference higher.
  • The settlement day Roll Over point is 11010
  • The VWAP & POC of Aug Series is 10966 & 10984 respectively.
  • The VWAP & POC of Jul Series is 11575 & 11547 respectively.
  • The VWAP & POC of Jun Series is 11833 & 11714 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 10994-11010-11038

Hypos / Estimates for the next session:

a) NF needs to sustain above 11010 for further rise to 11038-40 & 11064
b) Immediate support is at 11000 below which auction can test 10970 / 10958-951 & 10930
c) Above 11064, NF can probe higher to 11080-91 / 11105 & 11124-127
d) Below 10930, auction becomes weak for 10907 / 10886 & 10864-851
e) If 11127 is taken out, the auction can rise to 11142-150 / 11175-192 & 11215
f) Break of 10851 can trigger a move lower to 10828-811 & 10780-777


BankNifty Sep F: 27435 [ 27900 / 27328 ]

BNF also made a nice balance for the series & the corresponding Value of the composite for the September Futures is at 27381-27456-28120 and as expected in NF, the auction could give a good move in the new series in BNF also.

  • The BNF Open was an Open Auction (OA)
  • The day type was a Normal Variation Day – Down (‘b’ shape profile)
  • Largest volume was traded at 27450 F
  • Vwap of the session was also at 27552 with volumes of 23.2 L in a session which traded in a range of 572 points making a High-Low of 27900-27328
  • The Trend Day VWAP of 19/07 at 30085 is now positional supply point.
  • The higher Trend Day VWAP of 18/07 & 08/07 at 30598 & 30995 remain important references going forward
  • The settlement day Roll Over point is 27450
  • The VWAP & POC of August Series 27858 & 27960 respectively
  • The VWAP & POC of Jul Series is 30425 & 30586 respectively.
  • The VWAP & POC of Jun Series is 30914 & 30961 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 27396-27450-27600

Hypos / Estimates for the next session:

a) BNF has immediate resistance at 27450-475 above which it can rise to 27530-555 & 27610
b) Staying below 27450, the auction can test 27380-375 / 27325-315 & 27240
c) Above 27610, BNF can probe higher to 27655 / 27700-725 & 27800
d) Below 27240, lower levels of 27185-150 / 27090 & 27025 could come into play
e) Sustaining above 27800, BNF can give a fresh move up to 27880-900 & 27956-996
f) Break of 27025 could trigger a move down 26965 / 26905-890 & 26825

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