Market Profile Analysis dated 29th July 2020

Nifty Jul F:  11222 [ 11343 / 11170 ]

HVNs – 10190 / 10293 / 10475 / 10570 / 10728 / 10764 / 11112

NF made new highs for the series in the opening 15 minutes as it continied the imbalance close of previous day but got stalled at 11343 indicating that the move on the upside could be coming to an end. The auction then broke back into previous day’s range in the ‘B’ period and made a low of 11262 in the IB (Initial Balance) and went on to make a ‘C’ side extension lower which not just gave a move to VWAP but also tagged the PDH (Previous Day High) but got rejected there which meant that the supply was increasing. This led to a fresh RE lower in the ‘J’ period as NF broke the Trend Day VWAP of 11226 & went on to complete the 2 IB objective while making a low of 11170 which was right at the VAH of the 5-day composite it had moved away from yesterday. The level of 11170 holding gave a retracement to 11240 before the auction closed the day at 11222.

Click here to view the MP Lite chart NF moving away from the 5-day composite

  • The NF Open was a Open Auction (OAIR)
  • The Day type was a Normal Variation Dau – Down(NV)
  • Largest volume was traded at 11283 F
  • Vwap of the session was at 11270 with volumes of 155.4 L and range of 173 points as it made a High-Low of 11343-11170
  • NF confirmed a FA at 10921 on 20/07 and tagged the 2 ATR objective of 11222 on 23/07. This FA has not been tagged and is now positional support.
  • NF confirmed a multi-day FA at 10533 on 06/07 and tagged the 2 ATR objective of 10950 on 20/07. This FA has not been tagged and is now positional support.
  • NF confirmed a FA at 10440 on 02/07 and tagged the 2 ATR objective of 10868 on 13/07. This FA has not been tagged and is now positional support.
  • NF confirmed a FA at 10172 on 29/06 and and the tagged the 2 ATR target of 10619 on 06/07. This FA has not been tagged and is now positional support.
  • The 18th June & 01st July Trend Day VWAPs of of 9957 & 10350  would be important support levels.
  • The settlement day Roll Over point (Jul) is 10240
  • The VWAP & POC of Jun Series is 10110 & 10110 respectively.
  • The VWAP & POC of May Series is 9183 & 9109 respectively.
  • The VWAP & POC of Apr Series is 8999 & 9010 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 11249-11283-11341

Main Hypos for 30.07.2020:

a) NF needs to sustain above 11233 for a rise to 11260-283 / 11302-323 & 11350-380
b) The auction staying below 11202 could fall to 11172 / 11134-123 & 11090-058

Extended Hypos:
c) Above 11380, NF can probe higher to 11400-442 / 11465-484 & 11503-535
d) If 11058 is taken out, NF could fall to 11010 / 10967 & 10921-913


BankNifty Jul F:  22129 [ 22440 / 21964 ]

HVNs – 21000 / 21345 / 21723 / 21840 / 22180 / 22806

Click here to view the MP Lite chart of the latest profile of BNF

BNF opened lower and took support just above yPOC of 22020 after which it gave a quick burst higher as it got above PDH and made a high of 22367 but then gave an equally fast drop as it broke below VWAP to hit 22080 and all of this happened in the ‘A’ period indicating that the 2 opposite forces which caused the Neutral Day were still active. The auction then consolidated between 22080 and PDH till the ‘D’ period after which it made a RE higher in the ‘E’ but inspite of staying above IBH for good time between the ‘E’ & the ‘I’ period where it made a new high of 22440 but could hardly extend the range by much indicating poor trade facilitation and this led to a big liquidation break over the next 3 periods as BNF made a RE on the downside breaking below the yPOC of 22020 and went on to hit 21964 stopping right above the yVWAP of 21960 and gave a retracement back to 22180 before closing at 22129 leaving a second successive Neutral Day. One of the 2 opposite forces may be forced to back out in the coming session(s) giving a possibility of a Trend Day in either direction.

  • The BNF was a Open Auction (OA)
  • The Day type was a Neutral Day(NeuD)
  • Largest volume was traded at 22300 F
  • Vwap of the session was at 22250 with volumes of 69.3 L and range of 476 points as it made a High-Low of 22440-21964
  • BNF confirmed a FA at 21630 on 28/07 and went on to tag the 1 ATR target of 22201 on the same day. The 2 ATR objective from the FA comes to 22772.
  • BNF confirmed a FA at 20901 on 29/06 and the tagged the 2 ATR target of 22625 on 07/07. This FA has not been tagged and is now positional support.
  • The 18th June & 01st July Trend Day VWAPs of 20494 & 21650 would be important support levels.
  • The settlement day Roll Over point (Jul) is 21430
  • The VWAP & POC of Jun Series is 20918 & 21000 respectively.
  • The VWAP & POC of May Series is 18767 & 19633 respectively.
  • The VWAP & POC of Apr Series is 19605 & 19710 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 22179-22300-22415

Main Hypos for 30.07.2020:

a) BNF needs to sustain above 22180 for a rise to 22250-300 / 22384-415 / 22477-565 / 22620-685 & 22729-772
b) The auction accepting below 22100 could test 22044 / 21980-960 / 21866-747 / 21630-600 & 21530-462

Extended Hypos:

c) Above 22772, BNF can probe higher to 22850-918 / 22970-23027 / 23127-230 & 23313-390
d) Breaking below 21462, it could fall to 21417-360 / 21300-240 / 21160-100 / 21021 & 20901-868

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