Market Profile Analysis dated 29th October 2020

Nifty Nov F:  11668 [ 11747 / 11610 ]

NF opened with a big gap down as it made new lows for the week at 11627 but turned into an OAOR (Open Auction Out of Range) as it got back into previous day’s range in the ‘B’ period where it made a high of 11715 but remained in the IB (Initial Balance) till the ‘E’ period. The auction then made a RE (Range Extension) higher in the ‘F’ period followed by a marginal new high in the ‘F’ at 11747 and these similar highs just below previous day’s PBH of 11758 suggested that the buyers are getting exhausted and this led to a move back into the IB and VWAP triggering further liquidation as it broke below VWAP resulting in new lows for the day at 11610 in the ‘K’ period. However, NF could not sustain below the IB and was rejected back as it left a small buying tail and probed back to VWAP and the day’s POC to leave a well balanced Neutral profile with mostly lower Value.

Click here to view the Neutral Profile in NF on MPLite

  • The NF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Neutral Day (NeuD)
  • Largest volume was traded at 11668 F
  • Vwap of the session was at 11676 with volumes of 102.8 L and range of 137 points as it made a High-Low of 11747-11610
  • The settlement day Roll Over point (Nov) is 11665
  • The VWAP & POC of Oct Series is 11670 & 11897 respectively.
  • The VWAP & POC of Sep Series is 11353 & 11560 respectively.
  • The VWAP & POC of Aug Series is 11311 & 11311 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 11645-11668-11694

HVNs – 11740

Hypos for 30.10.2020:

a) NF needs to sustain above 11678 for a rise to 11715-740 / 11775-821 & 11876-910
b) The auction staying below 11645 could test 11615-590 / 11545-504 & 11475-430


BankNifty Nov F:  24091 [ 24337 / 23815 ]

BNF also opened lower with a gap of more than 200 points but took support at 23915 and got back into previous day’s range and probed higher in the IB as it tagged the yPOC of 24200 while making a high of 24215. The auction then made a C side test of VWAP as it left a PBL at 23994 and began to coil for the next 2 periods while forming double inside bars. The ‘F’ period signalled the end of this mini-balance as it made a RE on the upside and went on to hit 24337 stopping right below previous day’s seller zone & VWAP of 24340 and this marked the high for the day as BNF made a quick & big fall of over 500 points over the next 4 TPOs confriming a Neutral day with couple of REs on the downside as it made a low of 23815 in the ‘J’ period. Failure to get fresh selling at previous week’s low then led to a bounce back to VWAP & the dPOC as BNF too ended with a Neutral Day.

Click here to view the Neutral Day in BNF on MPLite

  • The BNF Open was a Open Auction (OA)
  • The Day type was a Neutral Day (NeuD)
  • Largest volume was traded at 24050 F
  • Vwap of the session was at 24061 with volumes of 32.8 L and range of 523 points as it made a High-Low of 24337-23815
  • The settlement day Roll Over point (Nov) is 24110
  • The VWAP & POC of Oct Series is 23240 & 24470 respectively.
  • The VWAP & POC of Sep Series is 22320 & 22320 respectively.
  • The VWAP & POC of Aug Series is 22444 & 21595 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 23950-24050-24149

HVNs – 24110

Hypos for 30.10.2020:

a) BNF needs to sustain above 24150 for a rise to 24230 / 24320-392 / 24465-550 & 24620-745
b) The auction staying below 24110 could test 24050 / 23920-805 / 23720-641 & 23550-440

For more tradeable ideas and intraday trading strategies based on MarketProfile and the OrderFlow live charts with OrderFlow analysis Live, subscribe to the trading room. The Vtrender Trading Room hosts India’s largest MarketProfile community live every trading session from 9.15 am to 3.30 pm.

If not a Trading Room member you can get immediate access at – https://www.explara.com/e/vtrendertradingroomlive