Market Profile Analysis dated 31st Jan

Nifty Feb F:

Yesterday’s report had this at the end “NF has formed a nice 3-day composite ‘b’ profile so can give a move away from here soon” and today NF opened with a gap up above previous Value and more importantly stayed above the POC of the composite ‘b’ profile which it was forming this week which signaled that the PLR is to the upside. The auction probed higher at open but got stalled at previous day’s high in the ‘A’ period after which it got below VWAP and moved lower in the ‘B’ period testing the morning lows extending it by just couple of points making a new low at 10708 but was not able to sustain below it indicating that demand was coming in. NF then got above VWAP in the C period and went on to probe above the IBH giving a break out above previous day high closing the ‘C’ period at highs. The auction then took support at IBH in the ‘D’ period and went on to make fresh highs and continued to trend higher in the ‘E’ period also making a high of 10793 which was also the 2 IB range extension to the upside. NF then made a narrow balance in the next 2 periods which were both inside bars but with the ‘G’ period leaving a pull back low at 10767 which could be the typical afternoon trend day pull back coming a little early. This got confirmed in the next period as NF went on to make new highs in ‘H’ period leaving an extension handle at 10793 to close at highs and inside previous week’s range. ‘I’ period also trended higher leaving another extension handle at 10803 and went on to make a high of 10847 completing the 3 IB range extension. The next 2 periods ‘J’ & ‘K’ balanced inside the ‘I’ period coiling before it gave the final spike as the ‘L’ period moved higher making new highs of 10868 to complete the Trend Day with a 4 IB Range Extension to start the new series with a bang. Today’s VWAP of 10789 & the pull back low of 10767 will be important levels going forward in February.

Nf Compo1 22 Market Profile Analysis Dated 31St Jan 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
    • The day type was a Trend Day (Up)
    • Largest volume was traded at 10775 F
    • Vwap of the session was at 10789 with volumes of 116 L in a session which traded a High-Low range of 10868-10708 for a range of 160 points 
    • NF had left a FA at 10710 on 04/01 and completed the 2ATR move up on 15/01 and was strong support. The auction broke below this FA twice this week but has got back above it.
    • NF had left a FA at 10580 on 26/12 & completed the 2 ATR move up to 10862. This FA has not been tagged and is now strong support
    • The VWAP & POC of Dec Series 10796 & 10741 respectively
    • The VWAP & POC of Nov Series 10480 & 10580 respectively.
    • The VWAP & POC of 31/10 10250 & 10248 will be important levels going forward

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 10710-10775-10829

Hypos / Estimates for the next session:

a) NF has immediate support at 10845-840 below which it can tag 10820 and 10803
b) Above 10868, NF can probe higher to tag the vPOC of 10881 and 10900
c) NF has strong base at 10793-789 in case of a dip and if broken next important support at 10767
d) If NF sustains above 10900, it can move higher to 10929 & 10950
e) Above 10950, NF can tag the composite vPOC of 10968 & 10986


BankNifty Feb F:

Bnf Compo1 23 Market Profile Analysis Dated 31St Jan 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 had made higher Value yesterday and after 2 back to back Neutral Days it was time for one side to take control over the auction. BNF opened with a gap up today which was also an OL (Open=Low) and auctioned in a narrow range of 60 points around yesterday’s highs confirming a multi-day FA at 26800 and started building volumes at 27000 levels. BNF then made a range extension to the upside just as the ‘C’ period was about to close tagging the 1 ATR move of 27049 from the FA and left an extension handle there following which the next 2 periods also trended higher with ‘E’ period making a high of 27150. The next 3 periods saw BNF make a balance with both being inside bars mostly except that ‘G’ period left a pull back low at 27067 which was just above VWAP as the ‘H’ period made a higher low & higher high. The auction then gave a fresh move up in the ‘I’ period as it made another range extension to the upside & this time left a extension handle at 27150 to trend higher tagging the 2 ATR target of 27298 and closed at highs giving a nice Trend Day Up. Today’s VWAP and extension handle of 27156 & 27150 will be the levels to watch going forward this series.

  • The BNF Open was a Open Auction
  • The day type was a Trend Day (Up)
  • Largest volume was traded at 27330 F
  • Vwap of the session was at 27156 with volumes of 18.3 L in a session which traded a High-Low range of 27364-26950 for a range of 414 points
  • BNF had confirmed a FA at 26920 on 29/01 and tagged the 1 ATR level down that day itself. It got above this FA and completed the 1 ATR to the upside and closed above it today. The 2 ATR move up comes to 27408
  • BNF confirmed a FA at 27716 on 23/1 and completed the 2 ATR move down hence is now strong resistance and is at ‘T+6’ days
  • The VWAP & POC of Dec Series 26713 & 26832 respectively, today’s close has been around the Dec VWAP
  • The VWAP & POC of Nov Series 25686 & 26218 (Spot) respectively
  • 31st October’s VWAP of 24895 & POC of 24900 will be important levels going forward

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 27093-27330-27360

Hypos / Estimates for the next session:

a) BNF has closed at the HVN of 27330 so above 27360 can probe higher to tag 27416 & 27490
b) Below 27330, BNF has support at 27285-250 and 27200
c) Above 27490, BNF can move higher to tag 27536-545 and 27590
d) BNF has major support at 27150 and below it the next important support is at 27067-50
e) If BNF breaks & sustains above 27590, the auction can go higher to 27640-665 and 27716-740

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