Market Profile Analysis dated 30th September 2020

Nifty Oct F:  11257 [ 11295 / 11195 ]

NF made an OAIR start and remained in previous day’s range all day to leave an inside bar on the daily as it made multiple rounds of the 80% Rule in previous Value and in the process formed overlapping to higher Value for the second consecutive day which means we now have a nice 3-day composite with Value at 11198-11220-11266 and the auction seems set to move away from this balance in the next session.

Click here to view the 3-day composite 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 11260 F
  • Vwap of the session was at 11248 with volumes of 110.9 L and range of 100 points as it made a High-Low of 11295-11195
  • NF confirmed a FA at 10857 on 25/09 and tagged the 2 ATR objective of 11165 on 28/09. This FA is currently on ‘T+4’ Days
  • The settlement day Roll Over point (Oct) is 10830
  • The VWAP & POC of Sep Series is 11353 & 11560 respectively.
  • The VWAP & POC of Aug Series is 11311 & 11311 respectively.
  • The VWAP & POC of Jul Series is 10897 & 10803 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 11224-11260-11279

HVNs – 10962 / 11220

Main Hypos for 01.10.2020:

a) NF needs to sustain above 11266 for a rise to 11290-301 / 11321-355 & 11395-410
b) The auction staying below 11241 could test 11220-182 / 11158-145 & 11120

Extended Hypos:
c) Above 11410, NF can probe higher to 11440-461 / 11495 & 11508*-520
d) If 11120 is taken out, NF could fall to 11090 / 11058-040 & 11013-10990


BankNifty Oct F:  21464 [ 21581 / 21141 ]

BNF seemed to make a Drive Down at open breaking below PDL as it went on to make lows of 21141 in the IB but for the second day running, the sellers failed to do a good job as the auction saw good demand coming back in Monday’s buying tail of 21289 to 21050 and this made it get back into the 2-day composite Value as it made multiple REs on the upside where it made a high of 21581 in the ‘K’ period before closing the day at 21464. There has been good volumes being built this week at the 21400 zone and though the day’s value was overlapping to lower once again, the close above 21400 plus the fact that sellers could not drive home the advantage in spite of 2 bearish opens in the last 2 days, the auction could make an attempt to probe higher in the next session provided it gets fresh demand above the 3-day composite Value of 21314-21400-21629.

Click here to view the 3-day composite in BNF on MPLite

  • The BNF Open was a Open Test Drive – Down (on lower volumes which failed)
  • The Day type was a Normal Variation Day – Up (NV)
  • Largest volume was traded at 21400 F
  • Vwap of the session was at 21363 with volumes of 83.2 L and range of 439 points as it made a High-Low of 21581-21141
  • BNF confirmed a FA at 20431 on 25/09 and tagged the 2 ATR objective of 21490 on 28/09. This FA is currently on ‘T+4’ Days.
  • The settlement day Roll Over point (Oct) is 20490
  • The VWAP & POC of Sep Series is 22320 & 22320 respectively.
  • The VWAP & POC of Aug Series is 22444 & 21595 respectively.
  • The VWAP & POC of Jul Series is 22163 & 22087 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 21275-21400-21517

HVNs – 20538 / 20822 / 21400 / 21630

Main Hypos for 01.10.2020:

a) BNF needs to sustain above 21470 for a rise to 21552-629 / 21700-750 / 21825-853 / 21950-970* & 22085
b) The auction staying below 21440 could test 21376-314 / 21272-184 / 21090-024 / 20970-920 & 20846

Extended Hypos:

c) Above 22085, BNF can probe higher to 22157-227 / 22300 / 22401-436* / 22490-579 & 22640-675
d) Breaking below 20846, it could fall to 20800-725 / 20624-535 / 20485-431 / 20366 & 20261

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