Market Profile Analysis dated 29th January 2021

Nifty Feb F:  13709 [ 13984 / 13666 ]

NF opened with a big gap up of 81 points and went on to probe above PDH (Previous Day High) as it hit 13984 but was swiftly rejected resulting in an ORR to the downside as it not only got back into previous day’s range & value but made spiked lower into the close after leaving an extension handle at 13755 to make a low of 13666 before closing the day at 13709. Both Value & Range formed outside bars on the daily hence leaving a nice 2-day balance at 13795-13847-13909 but Spike Rules will be in play for the next open and the zone to watch would be 13755 to 13666.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Rejection Reverse – Down (ORR)
  • The Day type was a Normal Variation Day – Down (with a spike close)
  • Largest volume was traded at 13885 F
  • Vwap of the session was at 13833 with volumes of 177 L and range of 317 points as it made a High-Low of 13984-13666
  • The settlement day Roll Over point (Feb) is 13809
  • The VWAP & POC of Jan Series is 14288 & 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 13771-13885-13912

HVNs – 13886 / 14015 / 14172


BankNifty Feb F:  30679 [ 31238 / 30291 ]

BNF opened with a gap up and took support in the spike zone of 30244 to 30485 as it made a C side extension lower which got rejected in typical manner leading to the reversal of the probe to the upside as the auction went on to make a late RE in the ‘J’ period and followed it up with another big move in the ‘K where it made a high of 31238. This leg up was also swiftly rejected as BNF left a selling tail from 31030 to 31238 playing the 45 Degree Rule into the close as it made a quick move back to the dPOC of 30550 before closing the day at 30679 leaving a Neutral Day with completely higher Value along with a prominent POC.

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 Neutral Day (NeuD)
  • Largest volume was traded at 30550 F
  • Vwap of the session was at 30636 with volumes of 71.2 L and range of 947 points as it made a High-Low of 31238-30291
  • The settlement day Roll Over point (Feb) is 30445
  • The VWAP & POC of Jan Series is 31597 & 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 30441-30550-30738

HVNs – 30041 / 30534

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