Market Profile Analysis dated 6th November

Market Profile Analysis dated 6th November 1

Nifty Nov F: 12008 [ 12050/ 11885 ]

HVNs – 11667 / 11814 / 11860 / 11905 / 11958 / 12004

Report to be updated…

(Click here to view the 5-day composite profile in NF)

Market Profile Analysis dated 6th November 2

  • The NF Open was an Open Drive Down (OD) on low volumes which failed
  • The day type was a Neutral Extreme – Up plus a Double Distribution Trend Day
  • Largest volume was traded at 12004 F
  • Vwap of the session was at 11975 with volumes of 103.9 L and range of 165 points as it made a High-Low of 12050-11885
  • NF confirmed a fresh FA at 11885 on 06/11 and tagged the 1 ATR target of 11999. The 2 ATR objective from this FA comes to 12112
  • NF confirmed a multi-day FA at 11895 on 04/11 and tagged the 1 ATR target of 12023 on 06/11. The 2 ATR objective from this FA comes to 12151 (This FA was briefly broken on 06/11 but left a new FA so is still a valid reference)
  • NF confirmed a FA at 12013 on 04/11 and tagged the 1 ATR move down of 11896 on 06/11. This FA has been re-visited in ‘T+2’ Days
  • NF confirmed a multi-day FA at 11465 on 16/10 and completed the 2 ATR move up of 11776. This FA has not been tagged since & hence is now positional support
  • NF confirmed a FA at 11503 on 17/10 and completed the 2 ATR move up of 11808. This FA has not been tagged since & hence is now positional support
  • NF confirmed a FA at 11162 on 09/10 and completed the 2 ATR move up of 11554.  This FA has not been tagged since & hence is now positional support
  • The Trend Day VWAP of 06/11 at 11975 will be important reference on the downside.
  • The Trend Day VWAP of 29/10 at 11810 will be important reference on the downside.
  • The settlement day Roll Over point (Nov) is 11970
  • The VWAP & POC of Oct Series is 11461 & 11365 respectively.
  • The VWAP & POC of Sep Series is 11127 & 10960 respectively.
  • The VWAP & POC of Aug Series is 10966 & 10984 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 11953-12004-12049

Hypos / Estimates for the next session:

a) NF needs to sustain above 12012 for a move higher to 112033-39 / 12056 & 12080-89
b) Staying below 11995, NF can test 11975-970 / 11943 & 11925-920
c) Above 12089, NF can probe higher to 12112 / 12133-148 & 12166
d) Below 11920, auction becomes weak for 11904-897 / 11874 & 11850
e) If 12166 is taken out, the auction go up to to 12185-194 / 12226-236 & 12255
f) Break of 11850 can trigger a move lower to 11832-829 / 11810-795 & 11771-767


BankNifty Nov F: 30683 [ 30780 / 30052]

HVNs – 30075 / 30150 / 30288 / 30410 / 30570 / 30680

(Click here to view the 5-day composite in BNF)

Market Profile Analysis dated 6th November 3

Report to be updated…

  • The BNF Open was an Open Drive Down (OD) on low volumes which failed
  • The day type was a Neutral Extreme – Up plus a Double Distribution Trend Day
  • Largest volume was traded at 30680 F
  • Vwap of the session was at 30447 with volumes of 46.8 L and range of 728 points as it made a High-Low of 30780-30052
  • BNF confirmed a fresh FA at 30052 on 06/11 and tagged the 1 ATR target of 30550. The 2 ATR objective from this FA comes to 31049
  • BNF confirmed yet another FA at 30520 on 05/11 and the 1 ATR move down comes to 29997. This FA was negated on 06/11 and the 1 ATR move on the upside comes to 31043
  • BNF confirmed a FA at 30658 on 04/11 and the 1 ATR move of 30097 was tagged on 06/11. However, this FA also got negated on the same day and the 1 ATR move on the upside comes to 31219
  • BNF confirmed a FA at 27900 on 09/10 and completed the 2 ATR move up of 29779. This FA has not been tagged since & hence is now positional support
  • The Trend Day VWAP of 06/11 at 30447 will be important reference on the downside.
  • The Trend Day VWAP of 29/10 at 29945 will be important reference on the downside. This was tagged on 30/10 and broken but was swiftly rejected so proves to be support.
  • The higher Trend Day VWAP of 08/07 at 30995 remains important reference going forward
  • The settlement day Roll Over point (Nov) is 30150
  • The VWAP & POC of Oct Series is 28784 & 28415 respectively.
  • The VWAP & POC of Sep Series is 28416 & 27160 respectively.
  • The VWAP & POC of August Series 27858 & 27960 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 30295-30680-30779

Hypos / Estimates for the next session:

a) BNF has immediate supply at 30726 above which it could rise to 30770 / 30850-895 & 30955
b) Staying below 30675, the auction gets weak for a test of 30584-560 / 30500 & 30445-432
c) Above 30955, BNF can probe higher to 31005-49 / 31100-152 & 31216-255
d) Below 30432, lower levels of 30384-355 / 30294-270 / 30225 & 30150-130 could come into play
e) If 31255 is taken out, BNF can give a fresh move up to 31310 / 31373-395 & 31417-440
f) Break of 30130 could trigger a move down 30072-50 / 29995-945 & 29880-855

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