Market Profile Analysis dated 29th Jan 2020

Nifty Jan F:  12121 [ 12182 / 12095 ]

HVNs – (11946-964) / 11994 / 12040 / 12062 / 12120 / 12153 / 12189 / 12244 / 11272 / 12305

NF opened with a gap up leaving a buying tail from 12105 to 12068 and made an attempt to tag the VPOC of 12189 as it fell just short of it and ended up as a Neutral Day with Value completely inside previous day’s Value forming a nice 2 day balance so could give a move away from this composite of 12114-12123-12162 in the coming session(s).

  • The NF Open was an Open Auction In Range  (OAIR)
  • The day type was a Neutral Day (NeuD)
  • Largest volume was traded at 12119 F
  • Vwap of the session was at 12142 with volumes of 107.6 L and range of 87 points as it made a High-Low of 12182-12095
  • NF confirmed a FA at 12319 on 15/01  and tagged the 1 ATR target of 12415 on 20/1. This FA was negated on 20/01 and the 2 ATR move down of 12127 got tagged on 22/01.
  • The 20th Jan Trend Day VWAP of 12308 would be important supply point.
  • The settlement day Roll Over point (Jan) is 12193
  • The VWAP & POC of Dec Series is 12087 & 12182 respectively.
  • The VWAP & POC of Nov Series is 11954 & 11910 respectively.
  • The VWAP & POC of Oct Series is 11461 & 11365 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 12118-12119-12158 

Hypos / Estimates for the next session:

a) NF needs to sustain above 12123 for a rise to 12142 / 12162-168 & 12189-196
b) Immediate support is at 12114 below which the auction could fall to 12095 & 12076-068
c) Above 12196, NF can probe higher to 12213 & 12239-244
d) Below 12068 auction gets weak for a test of 12035-023 & 12005-11996
e) If 12244 is taken out, the auction go up to to 12268-272 & 12296-308
f) Break of 11996 can trigger a move lower to 11974 / 11956 & 11930-926

Nifty SPOT Hypos for rest of the week:

A) Nifty needs to get above 12156 and sustain for a move to 12194-211 & 12230-266
B) Immediate support is at 12103-100 below which the auction could test 12055-46 & 12002-11991
C) Above 12266, Nifty can probe higher to 12295 / 12322-340 & 12377
D) Below 11991, lower levels of 11955-936 & 11881 could come into play
E) If 12377 is taken out, Nifty can have a fresh leg up to 12395-400 / 12433 & 12458-485
F) Break of 11881 could bring lower levels of 11856-836 & 11794-772


BankNifty Jan F:  30905 [ 31109 / 30866 ]

HVNs – 30800 / 30930 / 31030 / 31175 / 31326 / 31455 / 31525 / 31770

BNF has formed a nice 3-day Gaussian profile with Value at 30880-30955-31073 so will need to see if it gives a move away from this balance on the expiry day or continues to remain inside this.

  • The BNF Open was an Open Auction In Range  (OAIR)
  • The day type was a Neutral Day (NeuD)
  • Largest volume was traded at 30930 F
  • Vwap of the session was at 31003 with volumes of 30.4 L and range of 243 points as it made a High-Low of 31109-30866
  • BNF confirmed a FA at 31240 on 27/01  and tagged the 1 ATR of 30782 on 28/01. The 2 ATR objective from this FA comes to 30325.
  • BNF confirmed a FA at 31070 on 28/01  and the 1 ATR target comes to 30636. This FA got tagged on 29/01 but the auction could not sustain above it.
  • BNF confirmed a multi-day FA at 32260 on 14/01  and tagged the 2 ATR target of 31507 on 20/01. This FA has not been tagged and is now positional resistance.
  • BNF confirmed a FA at 32774 on 30/12 and tagged the 2 ATR target of 32142 on 03/01. This FA has not been tagged and is now positional resistance.
  • The 20th Jan Trend Day VWAP of 31396 would be important supply point. This was taken out on 24/01 briefly but closed below it indicating supply still prevalent in this zone.
  • The settlement day Roll Over point (Jan) is 32180
  • The VWAP & POC of Dec Series is 31956 & 32102 respectively.
  • The VWAP & POC of Nov Series is 30699 & 31100 respectively.
  • The VWAP & POC of Oct Series is 28784 & 28415 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 30950-30930-31099/strong>

Hypos / Estimates for the next session:

a) BNF needs to sustain above 30930 for a rise to 30990 / 31030-046 & 31101
b) Immediate support is at 30880 below which the auction could test 30825-800 / 30744 & 30679
c) Above 31101, BNF can probe higher to 31150-200 / 31265-285 & 31326
d) Below 30679, lower levels of 30625 / 30580-560 & 30500 could be tagged
e) If 31326 is taken out, BNF can give a fresh move up to 31396-403 / 31455-480 & 31517-525
f) Break of 30500 could trigger a move down to 30435-430 / 30350-325 & 30281-260

BankNifty SPOT Hypos for rest of the week:

A) BankNifty needs to sustain above 30890-923 for a move to 30972 / 31026-065 & 31115-153
B) Immediate support is at 30863-840 below which the auction could test 30761-729 / 30660 & 30602
C) Above 31153, BankNifty can probe higher to 31227-246* & 31330
D) Below 30602, lower levels of 30550-538 / 30450 & 30364 could come into play
E) If 31330 is taken out, BankNifty could rise to 31403*-418 / 31488 & 31531
F) Break of 30364 could trigger a move lower to 30302-277 / 30235-204* & 30105-090

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