Market Profile Analysis dated 9th Apr

Nifty Apr F:

NF made yet another OAIR start opening around yesterday’s VAH but was not able to get above it giving a low conviction open which meant the auction could continue to balance in yesterday’s Value. The auction probed lower almost completing the 80% Rule in the ‘A’ period itself as it made a mechanical low of 11640 which was also the previous week’s low. The next 2 periods then made double inside bars with the ‘C’ period remaining in a narrow range of just 22 points. (Click here to view the profile chart for better understanding) NF then probed lower for the next 3 periods though the range still remained on the lower side and went on to break below the IBL as it made a new low of 11632 but was not able to break below PDL (Previous Day’s Low) and closed the ‘F’ period inside the IB re-confirming that the auction is not ready to break away from the balance. Having tested the lower end of yesterday’s profile, NF then began to probe on the upside as it made a pull back high of 11681 in the ‘H’ period but was not able to close above VWAP after which it made another narrow range inside bar of just 17 points in the ‘I’ period. The auction then got into action in the ‘J’ period as it gave a big move to the upside once it got above the highs of ‘I’ and then the pull back high of 11681 and went on to make a range extension to the upside as it made a high of 11721 to complete the reverse 80% Rule and closed above the IBH confirming a FA at lows at 11632 and also a Neutral Day set up. The auction them remained above IBH and went on to tag the 1 ATR target of 11743 from day’s FA as it made a high of 11750 to complete a Neutral Extreme Day which was also an Inside Day. The immediate reference for next session would be from 11702 to 11750.

Nf Compo1 6 Market Profile Analysis Dated 9Th Apr 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 (Up)
  • Largest volume was traded at 11745 F
  • Vwap of the session was at 11681 with volumes of 80.9 L in a session which traded a High-Low range of 11750-11632 for a range of 118 points
  • NF confirmed a FA at 11632 today and tagged the 1 ATR move up of 11745. The 2 ATR move up comes to 11858
  • NF confirmed a FA at 11834 on 03/04 and almost tagged the 2 ATR move down of 11620 on 08/04. This FA is currently on ‘T+5’ days
  • 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 11673
  • The VWAP & POC of Mar Series is 11327 & 11448 respectively.
  • The VWAP & POC of Feb Series is 10830 & 10856 respectively.
  • The VWAP & POC of Jan Series is 10795 & 10823 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 11665-11745-11748

Hypos / Estimates for the next session:

a) NF needs to stay above 11745 at open for a move to 11757-760 & 11780-785
b) Sustaining below 11740 can bring 11713-703 & 11680
c) Above 11785, the auction can probe higher to 11806-811 and 11828-834
d) Below 11680, NF could move lower to 11660-655 & 11632-620
e) If 11834 is taken out, higher levels of 11858-865 and 11880 could be tagged
f) Break of 11620 can trigger a down move to 11608-601 & 11589-585


BankNifty Apr F:

Bnf Compo1 6 Market Profile Analysis Dated 9Th Apr 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 in the lower distribution of yesterday’s DD (Double Distribution) and attempted to probe higher but got rejected in both the ‘A’ as well as ‘B’ periods from the singles of the DD profile leaving a IB range of 225 points as it made a low of 29904. (Click here to view the profile chart for better understanding) The auction then made an inside bar in the ‘C’ period after which it probed lower in the ‘D’ as it even checked below the IBL making a new day low of 29890 just above the PDL (Previous Day Low) but was not able to stay below and gave a bounce to VWAP in the ‘F’ period but got rejected as it made a high of 29990. BNF then once again probed lower in the ‘G’ period going below the IBL once again tagging 29891 as it matched the day low but yet again there was no range extension to the downside indicating that sellers were not interested in taking the prices lower. The ‘H’ period then started an OTF (One Time Frame) move to the upside as the auction got above the pull back high of 29990 and scaled above VWAP and then went on to make a range extension to the upside in the ‘J’ period confirming a FA at lows to make a high of 30249 as it also left an extension handle at 30129. BNF continued to rise into the close as it tagged the 1 ATR target of 30303 from 20890 in the ‘K’ period and went on to make new highs for the day at 30359 in the ‘M’ period confirming yet another Neutral Extreme Day (the fifth in last 7 sessions) which was also an Inside Day both in terms of Range & Value. The reference for the next session would be 30285 to 30359.

  • The BNF Open was a Open Auction In Range (OAIR)
  • The day type was a Neutral Extreme Day (Up)
  • Largest volume was traded at 29965 F
  • Vwap of the session was at 30065 with volumes of 27.2L in a session which traded a High-Low range of 30359-29890 for a range of 469 points
  • BNF confirmed a FA at 29890 today and tagged the 1 ATR move up of 30303. The 2 ATR move up comes to 30727
  • The settlement day Roll Over point is 30500
  • The VWAP & POC of Mar Series is 29061 & 29778 respectively.
  • The VWAP & POC of Feb Series 27042 & 26978 respectively
  • The VWAP & POC of Jan Series 27236 & 27514 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 29900-29965-30210

Hypos / Estimates for the next session:

a) BNF needs to get above 30345 and sustain for a move to 30380-395 and 30434
b) Staying below 30345, the auction can move down to 30285-260 and 30195-162
c) Above 30434, BNF can probe higher to 30485-516 & 30580
d) Below 30162, BNF has an important support zone at 30112-088 which if broken can bring 30040-28
e) If 30580 is taken out on the upside, BNF could climb to 30640-666 and 30715-727
f) Break of 30028 can bring lower levels of 29965-950 and 29890

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