Market Profile Analysis dated 4th September

Market Profile Analysis dated 4th September 1

Nifty Sep F:  10886 [ 10905 / 10785 ] ]

NF opened the day in previous day’s spike & formed a balance for the first 3 periods before it made an attempt to make a range extension lower in the D period but got rejected at 10785 taking support just above the swing low of 10782 as it got back into the previous day’s range & probed higher as it went on to get above the spike high of 10865 and in the process confirmed a FA (Failed Auction) at 10785. NF went on to make highs of 10905 making a balanced profile for the day & stalling just below the yPOC of 10925 which will be the level it needs to take out for more upside.

Market Profile Analysis dated 4th September 2

  • The NF Open was an Open Auction (OA)
  • The day type was a Neutral Day
  • Largest volume was traded at 10845 F
  • Vwap of the session was at 10850 with volumes of 146.9 L and range of 120 points as it made a High-Low of 10905-10785
  • NF confirmed a FA at 10785 on 04/09 . The 1 ATR move up comes to 10958
  • NF confirmed a FA at 11079 on 29/08 & tagged the 1 ATR objective of 10906 on 30/08. The 2 ATR move down comes to 10733
  • The Trend Day POC & VWAP of 26/08 at 10886 10951 would be important references on the downside.
  • The Trend Day POC & VWAP of 19/07 at 11478 11523 are now positional references on the upside.
  • The higher Trend Day VWAP of 05/07 at 11965 is another important reference higher.
  • The settlement day Roll Over point is 11010
  • The VWAP & POC of Aug Series is 10966 & 10984 respectively.
  • The VWAP & POC of Jul Series is 11575 & 11547 respectively.
  • The VWAP & POC of Jun Series is 11833 & 11714 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 10820-10845-10882

Hypos / Estimates for the next session:

a) NF needs to scale above 10896-905 & sustain for a rise to 10925-936 & 10958-962
b) Immediate support is at 10876-865 below which auction can test 10845 & 10822-818
c) Above 10962, NF can probe higher to 10977 / 11004-10 & 11028-35
d) Below 10818, auction becomes weak for 10795-785 / 10760 & 10746-733
e) If 11035 is taken out, the auction can rise to 11049 & 11068-79
f) Break of 10733 can trigger a move lower to 10716 & 10680-676


BankNifty Sep F: 27219 [ 27381 / 26712 ]

Market Profile Analysis dated 4th September 3

BNF made an ORR start to the day as it got rejected at the yPOC of 27080 at open & broke below PDL to make new weekly lows of 26712 in the A period but left a tail at lows from 26790 to 26712 in the IB (Initial Balance) as it got back into previous day’s range indicating that the downside probe could be over. The auction then made a RE to the upside leaving an extension handle at 27080 forming a Double Distribution profile for the day as it got above PDH also leaving an outside bar on daily as it made highs of 27381 before closing at the HVN of the upper distribution.

  • The BNF Open was an Open Rejection Reverse – Down (ORR) which failed
  • The day type was a Double Distribution Day – Up
  • Largest volume was traded at 27180 F
  • Vwap of the session was also at 27097 with volumes of 45.1 L in a session which traded in a range of 669 points making a High-Low of 27381-26712
  • The Trend Day VWAP of 19/07 at 30085 is now positional supply point.
  • The higher Trend Day VWAP of 18/07 & 08/07 at 30598 & 30995 remain important references going forward
  • The settlement day Roll Over point is 27450
  • The VWAP & POC of August Series 27858 & 27960 respectively
  • The VWAP & POC of Jul Series is 30425 & 30586 respectively.
  • The VWAP & POC of Jun Series is 30914 & 30961 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 27002-27180-27377

Hypos / Estimates for the next session:

a) BNF needs to stay above 27210 and sustain for a rise to 27270-275 & 27350-370
b) Staying below 26190-180, the auction could test 27120-110 & 27060-40
c) Above 27370, BNF can probe higher to 27410-440 & 27498-510
d) Below 27040, lower levels of 26975 / 26920 & 26875 could come into play
e) Sustaining above 27510, BNF can give a fresh move up to 27585 / 27627 & 27674-690
f) Break of 26875 could trigger a move down 26815 / 26785-780 & 26710

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