Market Profile Analysis dated 5th July

Nifty Jul F:

The rise of last 2 days in NF saw one of the lowest range & volumes in the last couple of months which was a clear indication that auction is doing a poor job in this probe higher.

Today, NF opened higher making a high of 11999 matching the PDH (Previous Day High) but was unable to get above it re-confirming the above observation as it made just a 25 points IB (Initial Balance) range which was the second lowest in more than a year and this was a signal that a big range multiple IB day was in the making. (Click here to view the profile chart for better understanding) The auction then made an immediate Range Extension (RE) in the ‘C’ period as it tagged the PDL (Previous Day’s Low) completing the 2 IB move down but today’s RE in ‘C’ period was an exception to the fact that most of them fail as the auction hardly did anything in the IB. NF then made an inside bar in the ‘D’ period before making multiple RE in the next 2 periods as it made a low of 11901 in the ‘F’ period almost tagging the 4 IB mark. The ‘G’ period then saw a big retracement the auction got above VWAP making a high of 11980 which was more of an inventory adjustment move as in the next period, NF not broke back below VWAP but went on to make a fresh RE to the downside leaving an extension handle at 11901 after which the ‘I’ period followed making a lower low breaking below the FA of 11840 as it tagged 11831. The auction then made a balance for the next 2 periods as the ‘K’ period made a higher high but got rejected at the extension handle as it left a pull back high of 11898 after which NF resumed the trend down to make new lows of 11808 for the week at close completely engulfing the weekly range and in the process giving a 7.5 IB day down. The close has been in an imbalance so can expect some more downside at open in the next session.

Nf Compo1 5 Market Profile Analysis Dated 5Th July 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 (OAIR)
  • The day type was a Trend Day (Down)
  • Largest volume was traded at 11960 F
  • Vwap of the session was at 11908 with volumes of 138.8 L and range of 191 points as it made a High-Low of 11999-11808
  • NF confirmed an FA (Failed Auction) at 11840 on 02/07 and tagged the 1 ATR move up of 11961 on 03/07. This FA got revisited in ‘T+3’ days and has closed below it. The 1 ATR move down comes to 11719
  • The settlement day Roll Over point is 11915
  • The VWAP & POC of Jun Series is 11833 & 11714 respectively.
  • The VWAP & POC of May Series is 11613 & 11696 respectively.
  • The VWAP & POC of Apr Series is 11641 & 11592 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 11867-11960-11995

Hypos / Estimates for the next session:

a) NF has immediate supply in the zone of 11828-842 above which it can test 11863 & 11894-908
b) Immediate support is at 11808 below which the auction can fall to 11797-795 & 11765-756
c) Above 11908, NF can probe higher to 11937-942 & 11960
d) Below 11756, auction becomes weak for 11736 / 11719-710 & 11695-686
e) If 11960 is taken out, the auction can rise to 11978 & 11994-12009
f) Break of 11686 can trigger a move lower to 11665-655 & 11619-612


BankNifty Jul F:

Bnf Compo1 5 Market Profile Analysis Dated 5Th July 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 made a sedate start to the day staying mostly inside previous days Value but below the yPOC of 31650 for the first hour making a narrow IB (Initial Balance) range of just 85 points with a high & low of 31635-31550. (Click here to view the profile chart for better understanding) The rest of the day however was anything but sedate as the auction made some wild swings in both directions as it made 5 opposite side range extensions in the day marking a day low of 31353 in the ‘H’ period and a high of 31727 in the ‘K’ period to close around the dPOC of 31500 leaving an outside bar plus a 3-1-3 Neutral Centre profile for the day.

  • The BNF Open was a Open Auction In Range (OAIR)
  • The day type was a Neutral Centre Day (3-1-3 profile)
  • Largest volume was traded at 31500 F
  • Vwap of the session was at 31548 with volumes of 32.3 L in a session which traded in a range of 374 points making a High-Low of 31727-31353
  • The settlement day Roll Over point is 31400
  • The VWAP & POC of Jun Series is 30914 & 30961 respectively.
  • The VWAP & POC of May Series 30211 & 28940 respectively
  • The VWAP & POC of Apr Series is 30037 & 29762 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 31494-31500-31650

Hypos / Estimates for the next session:

a) BNF needs to stay above 31560 for a move higher to 31625-640 & 31680
b) Immediate support is at 31469-464 below which the auction can test 31415 & 31368-344
c) Above 31680, BNF can probe higher to 31727-740 & 31784-803
d) Below 31344, lower levels of 31297-280 & 31221 could come into play
e) Sustaining above 31803, BNF can give a fresh move up to 31875 & 31929-949
f) Break of 31221 could trigger a move down 31158 & 31071-041

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