Market Profile Analysis dated 7th Feb 2020

Nifty Feb F:  12096 [ 12132 / 12068 ]

HVNs – 11635 / 11685 / (11803) / 11932 / 11965-978 / 12012 / 12090-95 / 12132

NF continued to form a balance as it left the narrowest range as well as volumes of this series at just 64 points & 66.4 L forming a nice Gaussian profile for the day and looks set to give a move away from this balance in the coming session.

  • The NF Open was an Open Auction In Range (OAIR)
  • The day type was a Normal Day (Gaussian profile)
  • Largest volume was traded at 12093 F
  • Vwap of the session was at 12096 with volumes of 66.4 L and range of 64 points as it made a High-Low of 12132-12068
  • NF confirmed the second FA of this series at 12087 on 06/02  and the 1 ATR objective comes to 12232. This FA got negated on 07/02.
  • The 20th Jan Trend Day VWAP of 12336 remains positional supply point.
  • The settlement day Roll Over point (Feb) is 12044
  • The VWAP & POC of Jan Series is 12178 & 12132 respectively.
  • The VWAP & POC of Dec Series is 12087 & 12182 respectively.
  • The VWAP & POC of Nov Series is 11954 & 11910 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 12084-12093-12107

Hypos / Estimates for the next session:

a) NF needs to sustain above 12096 for a move higher to 12112-116 & 12132*-145
b) Immediate support is at 12077 below which the auction could test 12063-060 / 12043 & 12028
c) Above 12145, NF can probe higher to 12165-170 / 12189* & 12210-215
d) Below 12028 auction gets weak for a test of 12012-003 / 11982 & 11960
e) If 12215 is taken out, the auction go up to to 12230* / 12258 & 12275-285
f) Break of 11960 can trigger a move lower to 11942 / 11922 & 11904


BankNifty Feb F:  31240 [ 31364 / 31110 ]

HVNs – 29900 / (30040) / (30150) / 30355 / 30720 / 30800 / 30870 / 31050 / 31160 / 31200-230 / 31345-380

BNF filled up the low volume zone of previous day’s DD profile with a nice balance making an inside bar on the day as it left confirmed yet another FA at 31110 to leave a second successive Neutral Centre profile with the lowest range & volumes of this series at just 254 points & 28.3 L and similar to NF looks set to give a move away from this balance in the coming session(s).

  • The BNF Open was an Open Auction In Range (OAIR)
  • The day type was a Neutral Day (NeuD)
  • Largest volume was traded at 31200 F
  • Vwap of the session was at 31214 with volumes of 28.3 L and range of 254 points as it made a High-Low of 31364-31110
  • BNF confirmed the 5th FA of this series in 7 sessions at 31110 on 07/02  and 2 ATR move from this FA comes to 31623
  • BNF confirmed the 4th FA of this series in 6 sessions at 30956 on 06/02  and tagged the 1 ATR objective of 31453 on the same day. The 2 ATR move from this FA comes to 31950. This FA is currently on ‘T+2‘ Days.
  • BNF confirmed the third FA of this series in 5 sessions at 30631 on 05/02  and tagged the 1 ATR objective of 31116 on the same day. The 2 ATR move from this FA comes to 31600. This FA is currently on ‘T+3‘ Days.
  • BNF confirmed the first FA of the new series at 31126 on 31/01  and tagged the 2 ATR objective of 30345 on 01/02. This FA was tagged on 06/02 which was the ‘T+5‘th Day
  • The 20th Jan Trend Day VWAP of 31500 remains positional supply point.
  • The settlement day Roll Over point (Feb) is 30726
  • The VWAP & POC of Jan Series is 31425 & 32104 respectively.
  • The VWAP & POC of Dec Series is 31956 & 32102 respectively.
  • The VWAP & POC of Nov Series is 30699 & 31100 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 31157-31200-31260

Hypos / Estimates for the next session:

a) BNF has immediate supply in the zone of 31270-290 above which it could rise to 31364-380* / 31426-472 & 31520
b) The auction would get weak below 31200-188 for a test of 31120-110 / 31050 & 30987-956
c) Above 31520, BNF can probe higher to 31584*-600 / 31650 & 31720
d) Below 30956, lower levels of 30870-855 / 30800 & 30720** could be tagged
e) If 31720 is taken out, BNF can give a fresh move up to 31775-800 / 31850 / 31936-961 & 32040-057
f) Break of 30720 could trigger a move down to 30675-645 / 30616-585 & 30500-475

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