Market Profile Analysis dated 31st July 2020

Nifty Aug F:  11096 [ 11150 / 11025 ]

HVNs – 11095 / 11169 / 11263

NF made an Open Auction start on the first day of the new series as it probed below PDL (Previous Day Low) and hit 11054 but could not sustain the new lows & led to a probe higher as it tagged 11150 in the ‘B’ period leaving a relatively large IB range of 96 points. The auction continued to form a balance in the IB range around the RO (Roll Over) Point of 11095 for most part of the day before it made a RE (Range Extension) lower in the ‘I’ period where it made new lows of 11025 but was unable to extend it further and got back into the IB completing a perfect Gaussian profile on the daily with a close around the prominent POC of 11092 and has a good chance of leading to an imbalance in the coming session(s).

Click here to view the MP Lite chart of the latest profile of NF

  • The NF Open was a Open Auction (OA)
  • The Day type was a Normal Day (Gaussian Profile)
  • Largest volume was traded at 11092 F
  • Vwap of the session was at 11090 with volumes of 138.3 L and range of 125 points as it made a High-Low of 11150-11025
  • The settlement day Roll Over point (Aug) is 11095
  • The VWAP & POC of Jul Series is 10897 & 10803 respectively.
  • The VWAP & POC of Jun Series is 10110 & 10110 respectively.
  • The VWAP & POC of May Series is 9183 & 9109 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 11068-11092-11114

Main Hypos for 03.08.2020:

a) NF needs to sustain above 11105 for a rise to 11133-140 / 11169-195 & 11215-265
b) The auction staying below 11094 could fall to 11061-028 / 10974 & 10930

Extended Hypos:
c) Above 11265, NF can probe higher to 11281-306 / 11350-374 & 11409-442
d) If 10930 is taken out, NF could fall to 10883-850 / 10806-800 & 10765


BankNifty Aug F:  21691 [ 21828 / 21400 ]

HVNs – 21615 / 22151

Click here to view the MP Lite chart of the latest profile of BNF

BNF looked like moving away from the RO point of 21615 at open as it made a low of 21400 but was rejected as it not only got back into previous day’s range but went on to get above VWAP and make new highs for the day at 21827 all in the ‘A’ period itself where once again it faced rejection leaving a tail at both ends in the IB. The auction remained in this 427 point IB range all day forming a nice balanced profile and a rare Normal Day with overlapping to lower Value but a close near the VAH and has a good chance to move away from here in the next session.

  • The BNF Open was a Open Auction (OA)
  • The Day type was a Normal Day (Gaussian Profile)
  • Largest volume was traded at 21615 F
  • Vwap of the session was at 21953 with volumes of 30.7 L and range of 677 points as it made a High-Low of 22237-21560
  • The settlement day Roll Over point (Aug) is 21615
  • The VWAP & POC of Jul Series is 22163 & 22087 respectively.
  • The VWAP & POC of Jun Series is 20918 & 21000 respectively.
  • The VWAP & POC of May Series is 18767 & 19633 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 21530-21580-21707

Main Hypos for 03.08.2020:

a) BNF needs to sustain above 21714 for a rise to 21775-875 / 21955 / 22020-151 / 22200-290 & 22338-393
b) The auction accepting below 21690 could test 21615-580 / 21510-425 / 21366-336 / 21220-140 & 21039-20970

Extended Hypos:

c) Above 22393, BNF can probe higher to 22458-550 / 22600-710 / 22829-930 & 23000
d) Breaking below 20970, it could fall to 20904-850 / 20750-710 / 20589-480 & 20391

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