Market Profile Analysis dated 2nd July

Nifty Jul F:

The lowest range & volumes in over 2 months was hinting at poor trade facilitation as NF probed higher yesterday and today NF opened around yPOC of 11908 and made an attempt to move higher but got rejected from 11921 unable to get above PDH (Previous Day High) after which it auctioned lower breaking below PDL (Previous Day Low) in the Initial Balance (IB) itself. (Click here to view the profile chart for better understanding) NF went on to make a range extension lower in the ‘D’ period as it tagged 11840 which was also the weekly VAL (Value Area Low) but was unable to extend the range further to the downside in spite of probing below the IBL (Initial Balance Low) in the ‘E’ & ‘F’ periods too. The auction then stopped the OTF (One Time Frame) move down in the ‘F’ period and the fact that it was unable to tag even the 1.5 IB extension lower meant that the move down for the day could be over which got confirmed in the ‘H’ period as NF entered the 3-Day Gaussian profile (view chart here) triggering the 80% Rule. The ‘J’ period then saw a FA (Failed Auction) being confirmed at day’s low of 11840 as NF scaled above IBH (Initial Balance High) and the probe continued higher as it tagged 11948 in the ‘L’ period completing the 80% Rule to close around the highs leaving a Neutral Extreme Profile for the day with 2 HVNs at 11942 & 11865. The Neutral Extreme reference for the next session would be from 11924 to 11948 and the PLR now is firmly to the upside.

Nf Compo1 2 Market Profile Analysis Dated 2Nd July 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 Auction In Range (OAIR)
  • The day type was a Neutral Extreme Day – Up
  • Largest volume was traded at 11864 F
  • Vwap of the session was at 11895 with volumes of 80 L and a range of 108 points as it made a High-Low of 11948-11840
  • NF confirmed an FA (Failed Auction) at 11840 today and the 1 ATR move up comes to 11961
  • The settlement day Roll Over point is 11915
  • The VWAP & POC of Jun Series is 11833 & 11714 respectively.
  • The VWAP & POC of May Series is 11613 & 11696 respectively.
  • The VWAP & POC of Apr Series is 11641 & 11592 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 11841-11864-11918

Hypos / Estimates for the next session:

a) NF needs to stay above 11945-954 for a move to 11984 & 12005-009
b) Staying below 11942, the auction could test 11924-911 & 11895
c) Above 12009, NF could move higher to 12030-45 & 12062-79
d) Below 11895, auction becomes weak for 11875-870 & 11850
e) If 12079 is taken out, the auction can rise to 12098-105 & 12121-133
f) Break of 11850 can trigger a move lower to 11833 & 11754-743


BankNifty Jul F:

Bnf Compo1 2 Market Profile Analysis Dated 2Nd July 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 made an OH (Open=High) start at 31530 indicating that the upside could be capped and went on to break the support of 31450 as it made a low of 31410 in the ‘A’ period after which it gave a swift move down in the ‘B’ period as it broke below PDL to make a low of 31255 leaving a large IB (Initial Balance) range along with a selling tail at top from 31448 to 31530. (Click here to view the profile chart for better understanding) The auction then balanced in the ‘C’ period making an inside bar but resumed the probe down in the ‘D’ period as it broke below IBL to make a low of 31177 almost tagging the extension handle it had left on 27th June. BNF then balanced in the next 3 periods as the range kept getting narrower indicating that the auction to the downside is getting exhausted and this was further confirmed in the ‘H’ period as it stopped the OTF down to make higher highs and went on to tag 31446 in the ‘J’ period stopping at exactly the start of the selling tail of the morning making a classic case of previous support becoming resistance. The auction closed around the HVN of 31410 leaving a Normal Variation Day with tails at both ends and is looking good to give a move away from the balance it has been forming from the past 4 days with immediate bias to the upside.

  • The BNF Open was a Open Auction In Range (OAIR)
  • The day type was a Normal Variation Day – Down
  • Largest volume was traded yet again at 31410 F
  • Vwap of the session was at 31344 with volumes of 25.4 L in a session which traded in a range of 353 points making a High-Low of 31530-31177
  • The settlement day Roll Over point is 31400
  • The VWAP & POC of Jun Series is 30914 & 30961 respectively.
  • The VWAP & POC of May Series 30211 & 28940 respectively
  • The VWAP & POC of Apr Series is 30037 & 29762 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 31290-31410-31446

Hypos / Estimates for the next session:

BNF hypos for next session

a) BNF needs to get above 31448-468 for a move higher to 31545 & 31611-625
b) Immediate support is at 31390 below which the auction can test 31344 & 31297-280
c) Above 31625, BNF can probe higher to 31690-740 & 31784-803
d) Below 31280, lower levels of 31221-158 & 31071-041 could come into play
e) Sustaining above 31803, BNF can give a fresh move up to 31875 & 31929-949
f) Break of 31041 could trigger a move down 30975-953 & 30892-880

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