Market Profile Analysis dated 30th Mar 2020

Nifty Apr F:  8290 [ 8640 / 8248 ]

HVNs – 7900 / 8335 / 8408 / 8460 / 8540-60 / 8670

NF opened with a gap down of over 200 points right in the buying tail of 26/03 which was from 8464 to 8335 as it took support at 8395 in the opening minutes and went on make new highs for the day in the ‘A’ period itself as it not only got back into the previous day’s range but entered the 2-day composite Value triggering the 80% Rule with the POC of 8670 as the first probable target. The auction made highs of 8610 in the IB and went on to make a very late ‘C’ side extension higher as it made highs of 8622 and followed it up by new highs of 8640 as the ‘D’ period began but was unable to stay above the IBH as the high volume zone of 8650 to 8675 seemed to be attracting more supply. NF then broke below VWAP in the ‘E’ period triggering a OTF (One Time Frame) move to the downside for the rest of the day as it went on to break below IBL in the ‘H’ period thereby confirming a new FA at 8640. The auction left an extension handle at 8357 in the ‘K’ period and went on to make lows of 8248 before closing the day at 8290 giving a Neutral Extreme profile on the first day of the week. The reference for the next open would be from 8248 to 8357.

  • The NF Open was a Open Auction Out of Range (OAOR)
  • The day type was a Neutral Extreme Day – Down (NeuX)
  • Largest volume was traded at 8406 F
  • Vwap of the session was at 8465 with volumes of 209.7 L and range of 391 points as it made a High-Low of 8640-8248
  • NF confirmed a FA at 8640 on 30/03  and the 1 ATR move lower comes to 8026.
  • NF confirmed a FA at 7521 on 24/03  and tagged the 2 ATR objective of 8595 on 26/03. This FA is currently on ‘T+5’ Days.
  • NF confirmed a FA at 9384 on 17/03  and tagged the 2 ATR move of 8613 on 18/03. This FA has not been tagged and is positional supply point.
  • The settlement day Roll Over point (Apr) is 8686
  • The VWAP & POC of Mar Series is 9238 & 11289 respectively.
  • The VWAP & POC of Feb Series is 11944 & 12125 respectively.
  • The VWAP & POC of Jan Series is 12178 & 12132 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 8357-8406-8568

Main Hypos for the next session:

a) NF needs to get above 8322-32 & sustain for a move to 8357-95 / 8408-22 / 8451-70 / 8490-8510 & 8540-60
b) The auction has immediate support at 8280 below which it could fall to 8260-48 / 8222-11 / 8125-16 / 8080-74 & 8026

Extended Hypos:
c) Above 8560, NF can probe higher to 8590-8616 / 8640-50 / 8673*-84 / 8720-51 & 8780-99
d) Below 8026, the auction can fall further to 7999-90 / 7950 / 7896* / 7840-10 & 7791-70


BankNifty Apr F:  18799 [ 19820 / 18676 ]

HVNs – 18790 / 18985 / 19020 / 19120 / 19345 / (19550) / 19700 / 19840

BNF also opened with a big gap down of almost 700 points and took support at 19020 in the opening 5 minutes after which it reversed the probe and went on to get back into previous day’s range & close the gap as it tagged the yPOC of 19820 in a ‘D’ side RE but could not stay above the IBH of 19740 and similar to NF, it triggered a trending move lower into the close as the auction went on to make a RE lower also in the ‘I’ period confirming a FA at 19820 in BNF also after which it made lows of 18676 before closing the day at 18799 leaving a Neutral Extreme profile for the day.

  • The BNF Open was a Open Auction Out of Range (OAOR)
  • The day type was a Neutral Extreme Day – Down (NeuX)
  • Largest volume was traded at 19120 F
  • Vwap of the session was at 19278 with volumes of 51.7 L and range of 1144 points as it made a High-Low of 19820-18676
  • BNF confirmed a FA at 19820 on 30/03  and the 1 ATR move lower comes to 17880.
  • The Trend Day VWAP of 18/03 at 20990 will be an important positional supply point in the days to come.
  • The settlement day Roll Over point (Apr) is 19380
  • The VWAP & POC of Mar Series is 25502 & 20302 respectively.
  • The VWAP & POC of Feb Series is 30692 & 30692 respectively.
  • The VWAP & POC of Jan Series is 31425 & 32104 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 18698-19120-19452

Main Hypos for the next session:

a) BNF needs to scale above 18840-870 & sustain for a rise to 18990-19005 / 19120 / 19186-227 / 19278 / 19345-400 & 19460-550
b) Staying below 18780, the auction becomes weak for downsides of 18710-670 / 18555 / 18435*-395 / 18340 / 18270-255 / 18199-163 & 18100-025

Extended Hypos:
c) Above 19550, BNF can probe higher to 19650-680 / 19725-740 / 19820-845 / 19950-967 & 20064-81
d) Below 18025, lower levels of 17950-920 / 17775-759 / 17710 / 17650-635 & 17588-544 could come into play

-Additional Hypos*-:
e) BNF if gets accepted above 20081* could start a new leg up to 20130-180 / 20251-295 / 20326-350 / 20425 & 20496-520
f) If 17544* is taken out, the auction can fall to 17490-476 / 17430 / 17352-260 / 17195-150 & 17080-22

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