Market Profile Analysis dated 7th May

Nifty May F:

NF opened higher as it made a high of 11688 but got rejected above yVAH to get back into the previous day’s balance & completed the 80% Rule as it tagged 11655 in the IB (Initial Balance) leaving a narrow IB range of just 33 points raising the possibility of a multiple IB day. (Click here to view the profile chart for better understanding) The auction continued to probe lower in the ‘C’ & ‘D’ periods as NF made a low of 11637 tagging the 1.5 IB range extension but was not able to break below PDL (previous day low) and was rejected as it left a small tail at lows from 11652 to 11637. The ‘E’ period then made an inside bar staying below VWAP but closed inside the IB and the ‘F’ period made a reverse 80% in previous day’s Value as it made a high of 11686. The ‘G’ period then made an inside bar and the ‘H’ period attempted a range extension to the upside confirming a FA at lows as it made a high of 11692 but was rejected from just below the previous day’s FA of 11695 indicating that sellers are very much active in this zone. Armed with this new information, the sellers then took complete control of the auction as NF trended lower into the close as it left a first extension handle at 11637 negating that FA & confirming a new FA at 11692 to complete almost a 5 IB day down as it made a low of 11531 to tag the 1 ATR move down from the negated FA of 11637. NF left a second extension handle at 11606 and closed as a Neutral Extreme Day with the Neutral Extreme reference for the next session at 11583 to 11531.

Nf Compo1 3 Market Profile Analysis Dated 7Th May 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 Neutral Extreme Day – Down
  • Largest volume was traded at 11543 F
  • Vwap of the session was at 11633 with volumes of 83.2 L in a session of 161 points trading in a High-Low range of 11692-11531
  • NF confirmed a FA at 11695 on 06/05 and tagged the 1 ATR move down of 11587. The 2 ATR target from this FA comes to 11480.
  • NF had confirmed a FA at 11432 on 26/03 and tagged the 2 ATR move of 11632 on 27/03. This FA has not been tagged & is now strong support.
  • The settlement day Roll Over point is 11722
  • The VWAP & POC of Apr Series is 11641 & 11592 respectively.
  • The VWAP & POC of Mar Series is 11327 & 11448 respectively.
  • The VWAP & POC of Feb Series is 10830 & 10856 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 11535-11543-11657

Hypos / Estimates for the next session:

a) NF has a HVN at 11543 so needs to stay above it for a move higher to 11583 & 11600-606
b) Staying below 11543, NF can probe lower to 11525 & 11508-496
c) Above 11606, the auction can tag higher levels of 11626-637 & 11658-663
d) Below 11496, PLR remains down for lower levels of 11477-460 & 11432-426
e) If 11663 is taken out & sustained, NF can move higher to 11685-695 & 11712-722
f) Break of 11426 could bring lower levels of 11405 & 11385


BankNifty May F:

Bnf Compo1 3 Market Profile Analysis Dated 7Th May 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 opened with a gap up of 100+ points and above PDH (Previous Day High) as it made high of 29945 at open and probed lower where it got support in the HVZ (High Volume Zone) of yesterday as it made a low of 29817 in the IB (Initial Balance) leaving a relatively narrow range of just 128 points. (Click here to view the profile chart for better understanding) The auction probed lower post IB as it made a low of 29801 in the ‘D’ period making a mechanical low in the previous day’s HVZ. The ‘E’ period made an inside bar after making a similar low of 29805 after which BNF scaled above VWAP in the ‘F’ period as it got back above PDH to make a high of 29930 but was unable to make a range extension higher. The ‘G’ period then made an inside bar and the auction attempted another probe higher in the ‘H’ period as it tagged 29922 but could not sustain and closed lower making an outside bar and confirming change in character of the auction. BNF then trended lower into the close though it made an attempt in the ‘J’ period to get above the weekly POC of 29864 and was rejected leaving a pull back high of 29874 after which it left a first extension handle at 29780 and then a second one at 29675 as the auction broke into the previous day singles of 29727 to 29649 and went on to break the PDL (Previous Day Low) confirming a weekly FA at 29945 which made the set up more bearish. The auction closed in spike of 29587 to 29370 and spike rules will come into play at open in the next session.

  • The BNF Open was a Open Auction (OA)
  • The day type was a Normal Variation Day (Down) with a big spike
  • Largest volume was traded at 29880 F
  • Vwap of the session was at 29760 with volumes of 29 L in a session which traded a High-Low range of 29945-29370 for a range of 576 points
  • BNF confirmed a weekly FA at 29945 on 07/05. The 1 ATR move down from this FA comes to 29136.
  • BNF confirmed a multi-day FA at 29730 on 03/05 and tagged the 1 ATR move up of 30139. This FA got negated today as BNF opened below it. The 1 ATR move lower from this FA comes to 29321
  • The settlement day Roll Over point is 29760
  • The VWAP & POC of Apr Series is 30037 & 29762 respectively.
  • The VWAP & POC of Mar Series is 29061 & 29778 respectively.
  • The VWAP & POC of Feb Series 27042 & 26978 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 29602-29880-29940

Hypos / Estimates for the next session:

a) BNF needs to stay above 29445 for a move higher to 29550-590
b) Staying below 29445, BNF could test 29370 & 29321
c) Above 29590, the auction could probe higher to 29675 & 29735-760
d) Below 29321, BNF could tag lower levels of 29220-211 & 29135
e) Sustaining above 29760, higher levels of 29810 & 29880 come into play
f) Break of 29135 could lead a further fall to 29084-53 & 28990-965

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