Market Profile Analysis dated 31st August 2020

Nifty Sep F:  11402 [ 11794 / 11350 ]

NF opened higher by 90 points and went on to tag 11795 in the opening minutes but saw a combination of profit booking as well as big supply coming in at these new highs which led to a huge trending move lower of 444 points as the auction not only got back into previous week’s range & value but went on to break below the lows of 11420 as it hit 11350 before closing the day at 11402 leaving a Trend Day Down on the first day of the week and so early in the new series. Today’s elongated profile has left major extension handle(s) at 11750 / 11665 & 11545 along with couple of PBHs (Pull Back High) at 11615 & 11448 which would be important references going forward into the new calendar month. On the downside, the VPOC of 11345 & the August series VWAP of 11311 would be the immediate support levels to watch.

Click here to view the latest profile chart of NF on MPLite

  • The NF Open was a Open Auction Out of Range (OAOR)
  • The Day type was a Trend Day – Down (TD)
  • Largest volume was traded at 11773 F
  • Vwap of the session was at 11550 with volumes of 235.6 L and range of 444 points as it made a High-Low of 11794-11350
  • The settlement day Roll Over point (Sep) is 11607
  • The VWAP & POC of Aug Series is 11311 & 11311 respectively.
  • The VWAP & POC of Jul Series is 10897 & 10803 respectively.
  • The VWAP & POC of Jun Series is 10110 & 10110 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 11455-11773-11790

HVNs – 11485 / 11664

Main Hypos for 01.09.2020:

a) NF needs to sustain above 11420 for a rise to 11455-498 / 11525-550 & 11580
b) The auction staying below 11395 could fall to 11360-345* / 11305*-280 & 11250*-211

Extended Hypos:
c) Above 11580, NF can probe higher to 11602-645 / 11680-706 & 11743-773
d) If 11211 is taken out, NF could fall to 11183-168 / 11130-093 & 11062-033


BankNifty Sep F:  23743 [ 25270 / 23371 ]

BNF opened with a gap up of 361 points and went on to tag the VPOC of 25039 of the 13th March 2020 as it made highs of 25270 in the opening minutes but similar to NF, saw longs booking out along with aggressive shorts being built leading to a big fall of 1899 points as the auction made a OTF (One Time Frame) move lower for the first 6 periods where it made a low of 23930 and left a PBH at 24285 before starting the next leg lower to form lows of 23371 before giving a retracement to 23907 in the last 45 minutes before closing the day at 23743 with the dPOC shifting to 23800.

Click here to view the latest profile in BNF on MP Lite

  • The BNF Open was a Open Auction Out of Range (OAOR) 
  • The Day type was a Trend Day – Down (TD)
  • Largest volume was traded at 23800 F
  • Vwap of the session was at 24131 with volumes of 126.1 L and range of 1899 points as it made a High-Low of 25270-23371
  • The settlement day Roll Over point (Sep) is 23576
  • The VWAP & POC of Aug Series is 22444 & 21595 respectively.
  • The VWAP & POC of Jul Series is 22163 & 22087 respectively.
  • The VWAP & POC of Jun Series is 20918 & 21000 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 23399-23800-24296

HVNs – 21590 / 22175 / 22260

Main Hypos for 01.09.2020:

a) BNF needs to sustain above 23800 for a rise to 23874-930 / 24000-131 / 24250-380 & 24450-585
b) The auction accepting below 23700 could test 23621-500 / 23392-329 / 23219*-184 & 23066*-22956

Extended Hypos:

c) Above 24585, BNF can probe higher to 24636-775 / 24850-950 / 25031-150 & 25200-270
d) Breaking below 22956, it could fall to 22850-800* / 22720-621 / 22560-444 / 22378 & 22280*-240

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