Market Profile Analysis dated 30th October 2020

Nifty Nov F:  11638 [ 11746 / 11515 ]

NF made a drive like open on the upside as it seemed to give a move away from previous Value even leaving a buying tail from 11708 to 11632 in the IB (Initial Balance) where it made a high of 11746 but could not get above PDH (Previous Day High) indicating that the supply was still active here. The auction then broke below VWAP in the D period which triggered further liquidation as it went on to make multiple REs (Range Extension) lower for the next 5 periods completing the 2 IB target of 11518 while making a low of 11515 in the ‘H’ period. This sharp & quick imbalance saw some profit booking by the sellers as the dPOC shifted lower to 11563 after which NF gave a retracement back to VWAP and got back to 11654 into the close. Value for the day was overlapping to lower with the close being right at the 2-day composite POC so will need to look for intiaitive volumes for a move away from this POC in the coming session.

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

  • The NF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Variation Day – Down (NV)
  • Largest volume was traded at 11563 F
  • Vwap of the session was at 11618 with volumes of 159.6 L and range of 231 points as it made a High-Low of 11746-11515
  • The settlement day Roll Over point (Nov) is 11665
  • The VWAP & POC of Oct Series is 11793 & 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 11540-11563-11652

HVNs – 11740

Hypos for 02.11.2020:

a) NF needs to sustain above 11635 for a rise to 11668-707 / 11745-793 & 11836-876
b) The auction staying below 11620 could test 11585-550 / 11520-475 & 11430-390


BankNifty Nov F:  23924 [ 24277 / 23565 ]

BNF saw a strong open from the buyers as they drove higher in the IB leaving a buying tail from 24090 to 23929 but then the dreaded C side extension marked the end of road for the buyers as the auction confirmed a daily FA at 24277 which triggered a fresh leg down as it made new lows for the week at 23565 and in the process completed the 1 ATR objective of 23619 and similar to NF, gave a bounce to day’s VWAP into the close to settle down at 23924.

Click here to view the latest profile chart in BNF on MPLite

  • The BNF Open was a Open Auction In Range (OAIR)
  • The Day type was a Normal Variation Day – Down (NV)
  • Largest volume was traded at 23910 F
  • Vwap of the session was at 23906 with volumes of 90.5 L and range of 712 points as it made a High-Low of 24277-23565
  • BNF confirmed a FA at 24277 on 30/10 and tagged the 1 ATR objective of 23619 on the same day. The 2 ATR target comes to 22962.
  • The settlement day Roll Over point (Nov) is 24110
  • The VWAP & POC of Oct Series is 23740 & 24468 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 23658-23910-24026

HVNs – 24110

Hypos for 02.11.2020:

a) BNF needs to sustain above 23930 for a rise to 23995 / 24130-260 / 24320-392 / 24465-550 & 24650
b) The auction staying below 23901 could test 23840-778 / 23688-600 / 23500-440 / 23360 & 23240-175

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