Market Profile Analysis dated 29th May 2020

Nifty Jun F:  9494 [ 9509 / 9361 ]

HVNs – 9093 / 9275 / 9433

NF started the day continuing to form a balance in previous day’s Value before giving multiple REs (Range Extension) higher to complete the 2 IB objective as it made highs of 9509 before closing the day at 9494. Value for the day was overlapping to higher & the 2-day composite is giving a nice Gaussian profile suggesting a move away from here could happen in the coming session(s).

Click here to view the 2-day balance in NF on MPLite

  • The NF Open was a Open Auction In Range  (OAIR)
  • The day type was a Normal Variation Day – Up (NV)
  • Largest volume was traded at 9420 F
  • Vwap of the session was at 9432 with volumes of 173.2 L and range of 148 points as it made a High-Low of 9509-9361
  • The Trend Day VWAP of 9165 would be important support level.
  • The settlement day Roll Over point (Jun) is 9426
  • The VWAP & POC of May Series is 9183 & 9109 respectively.
  • The VWAP & POC of Apr Series is 8999 & 9010 respectively.
  • The VWAP & POC of Mar Series is 9146 & 8592 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 9388-9420-9462

Main Hypos for the next session:

a) NF needs to sustain above 9500-10 for a rise to 9530-59 / 9574-94 / 9616-25 / 9653-70 & 9690-94
b) The auction has immediate support at 9480 below which it could test 9462-55 / 9441 / 9400-9378 / 9361-36 & 9310-9292

Extended Hypos:
c) Above 9694, NF can probe higher to 9721-50 / 9772-78 / 9796-9800 / 9822 & 9840-48
d) Below 9292, the auction can fall further to 9275 / 9248-42 / 9216-04 / 9177-65 & 9135


BankNifty Jun F:  19099 [ 19349 / 18721 ]

HVNs – 17800 / 19000 / 19186

BNF opened lower in the tail of previous day’s p’ shape profile & broke below PDL to make lows of 18655 before it reversed the probe to the upside where it got resisted at the HVN of 19186 in a ‘C’ side extension which turned out to be the day’s high as well as the auction formed a balance for the rest of the day forming a nice balanced profile with overlapping to lower Value and similar to NF, BNF also formed a nice Gaussian profile on the 2-day composite.

Click here to view the 2-day balance in BNF on MPLite

  • The BNF Open was a Open Auction In Range  (OAIR)
  • The day type was a Normal Variation Day – Up (NV)
  • Largest volume was traded at 18943 F
  • Vwap of the session was at 18946 with volumes of 81.5 L and range of 527 points as it made a High-Low of 19183-18655
  • The Trend Day VWAP of 18138 would be important support level.
  • The settlement day Roll Over point (Jun) is 19035
  • The VWAP & POC of May Series is 18767 & 19633 respectively.
  • The VWAP & POC of Apr Series is 19605 & 19710 respectively.
  • The VWAP & POC of Mar Series is 22104 & 20248 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 18835-18943-19089

Main Hypos for the next session:

a) BNF has immediate supply at 19134 above which it could rise to 19186 / 19260-330 / 19450-480 / 18560-650* / 19750 & 19812-840
b) The auction staying below 19090 could test 19015-18980 / 18935-870 / 18812-780 / 18720 / 18684-625 / 18535-450 & 18330

Extended Hypos:
c) Above 19840, BNF can probe higher to 19940-995 / 20103-140 / 20220 / 20324-396 / 20430 & 20535
d) Below 18330, lower levels of 18250 / 18198-138 / 18072-18 / 17960 / 17865-856 17800*-760 & 17648-632 could come into play

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