Market Profile Analysis dated 29th Mar

Nifty Apr F:

NF opened above PDH (Previous Day High) and gave a freak high of 11718 at open but was not able to sustain & got back into previous day’s range giving an ORR (down) start to the new series but there was no intent or OTF (Other Time Frame) player present as the auction got into yesterday’s spike testing the spike low as it made a low of 11641 in the ‘A’ period but did not sustain below the spike. The ‘B’ period made an inside bar as the auction began to balance in the spike zone. (Click here to view the profile chart for better understanding) NF continued to remain in the narrow range of ‘B’ period for the next 3 periods making same highs of 11668 as the attempt in the ‘D’ period to break below ‘B’ was swiftly rejected. The auction then probed higher in the ‘F’ period breaking above 11668 and continued to move higher for the next 3 periods as NF made a high of 11699 in the ‘I’ period. Volumes continued to be on the lower side which indicated only locals were in play hence the auction drifted back to VWAP making a pull back low of 11661 in the ‘J’ period. NF moved higher in the ‘K’ period making a higher high of 11705 but again there was no increase in volumes which ruled out any range extension for the say & the auction rotated back to VWAP building a wide POC at 11680 as NF gave a Gaussian profile & a Normal Day to start the new series with a very good chance of giving a move away from there in the next session.

Nf Compo1 18 Market Profile Analysis Dated 29Th Mar Banknifty Futures, Charts, Day Trading, Intraday Trading, Intraday Trading Strategies, Market Profile, Market Profile Trading Strategies, Nifty Futures, Order Flow Analysis, Support And Resistance, Technical Analysis, Trading Strategies, Volume Profile Trading

  • The NF Open was a Open Rejection Reverse (ORR)
  • The day type was a Normal Day (Gaussian profile)
  • Largest volume was traded at 11680 F
  • Vwap of the session was at 11673 with volumes of 75.9 L in a session which traded a High-Low range of 11705-11641 for a range of 64 points if we ignore the freak opening tick of 11718
  • NF had confirmed a FA at 11432 on 26/03 and tagged the 2 ATR move of 11632 on 27/03. This FA is currently on ‘T+4’ Days
  • The settlement day Roll Over point is 11673
  • The VWAP & POC of Mar Series is 11327 & 11448 respectively.
  • The VWAP & POC of Feb Series is 10830 & 10856 respectively.
  • The VWAP & POC of Jan Series is 10795 & 10823 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 11663-11680-11693

Hypos / Estimates for the next session:

a) NF needs to stay above 11675-680 at open for a move higher to 11693-697 and 11710
b) Staying below 11675, the auction can test 11661 and 11641-634
c) Above 11710, NF can probe higher to 11730 & 11756
d) Below 11634, lower levels of 11611-601 and 11589 could come into play
e) If 11756 is taken out, NF can climb higher to tag 11772-775 and 11795
f) NF has important support in the zone of 11580-574 which if broken can bring 11554 and 11521


BankNifty Apr F:

Bnf Compo1 18 Market Profile Analysis Dated 29Th Mar Banknifty Futures, Charts, Day Trading, Intraday Trading, Intraday Trading Strategies, Market Profile, Market Profile Trading Strategies, Nifty Futures, Order Flow Analysis, Support And Resistance, Technical Analysis, Trading Strategies, Volume Profile Trading

BNF opened higher above the PDH and made a freak high of 30915 and started to probe lower closing the small gap and getting back into the previous day’s range as it tagged the yPOC of 30480 while making a low of 30430 in the ‘A’ period after which the ‘B’ period made a narrow range inside bar. (Click here to view the profile chart for better understanding) The auction then made the dreaded ‘C’ period extension lower as BNF made a low of 30408 but was not able to stay below the IBL. BNF made a second attempt to probe lower again in the ‘D’ period making a similar low of 30408 which indicated exhaustion in the move down and the auction got back to VWAP. BNF then remained in a range making a balanced profile building up volumes at 30530 and 2 attempts to move away from this zone in both directions failed as the auction left a pull back high of 30613 in the ‘I’ period as well as a pull back low of 30418 in the ‘J’ period which will be the levels to watch if BNF gives a move away from the prominent POC in the next session.

  • The BNF Open was a Open Rejection Reverse (ORR)
  • The day type was a Normal Day (‘b’ profile)
  • Largest volume was traded at 30530 F
  • Vwap of the session was at 30515 with volumes at 23.7 L in a session which traded a High-Low range of 30669-30408 for a range of 260 points if we ignore the freak opening tick of 30915
  • The Trend Day VWAP of 28/03 of 30364 will be important level for the series.
  • The settlement day Roll Over point is 30500
  • The VWAP & POC of Mar Series is 29061 & 29778 respectively.
  • The VWAP & POC of Feb Series 27042 & 26978 respectively
  • The VWAP & POC of Jan Series 27236 & 27514 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 30450-30530-30565

Hypos / Estimates for the next session:

a) BNF has a prominent POC at 30530 so a move lower from there could get 30450 & 30408
b) Staying above 30530 at open, the auction can tag higher levels of 30580-615 & 30670-675
c) Below 30405, BNF could test levels of 30365 and 30315-309
d) Above 30675, BNF can move higher to 30760 & 30810-850
e) If 30309 is taken out, the auction can probe lower to 30270-217 and 30185

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