Market Profile Analysis dated 9th Jan 2020

Nifty Jan F:  12270 [ 12279/ 12168 ]

HVNs – (11946-964) / 11994 / 12040 / 12062 / 12113 / 12195 / 12265 / 12327

Previous Day’s report ended with this ‘Value for the day was overlapping to lower but the profile has left a small excess at the new lows which could mean that the auction could have made a short term bottom and the PLR would be on the upside in the coming session with immediate support at 12060. On the upside, the first objective would be the composite VPOC of 12120 above which it could be headed towards the next VPOC of 12260‘.

A Normal Day generally leads to a good move in one direction and the above view played out perfectly today which was fueled by a big gap up of almost 120 points as NF started with an OAOR (Open Auction Out of Range) thus making a narrow IB range of just 37 points but more importantly left a big buying tail from 12181 to 12063 keeping the PLR up. The auction then made a ‘C’ side RE (Range Extension) to the upside leaving an extension handle at 12205 and continued to probe higher all day giving a slow Trend Day as it re-entered the 6-Day higher composite of 12237-12275-12302 and successfully tagged the VPOC making highs of 12279 completing the 3 IB objective for the day to the dot before closing at 12270. The PLR continues to remain Up for a test of the VPOC of 12327 & the FA of 12348 with immediate support at the combo of the Trend Day VWAP & the Pull Back Low of 12244 & 12234.

Click here to view the MPLite chart of how NF gets back into the composite of 27th Dec to 3rd Jan via a Trend Day

  • The NF Open was an Open Auction Out of Range (OAOR)
  • The day type was a slow Trend Day – Up (Double Distribution type profile)
  • Largest volume was traded at 12265 F
  • Vwap of the session was at 12234 with volumes of 111.6 L and range of 111 points as it made a High-Low of 12279-12168
  • The settlement day Roll Over point (Jan) is 12193
  • The VWAP & POC of Dec Series is 12087 & 12182 respectively.
  • The VWAP & POC of Nov Series is 11954 & 11910 respectively.
  • The VWAP & POC of Oct Series is 11461 & 11365 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 12208-12265-12278

Hypos / Estimates for the next session:

a) NF needs to sustain above 12265 for a move to 12282-290 / 12307-315 & 12327*
b) Staying below 12265, the auction could test 12244-234 & 12217-208
c) Above 12327, NF can probe higher to 12348-352 / 12368 & 12384-395
d) Below 12208, auction could probe lower to 12195-181 / 12160 & 12139
e) If 12395 is taken out, the auction go up to to 12414-420 / 12437 & 12458-460
f) Break of 12139 can trigger a move lower to 12126-113 / 12090 & 12062*-42*


BankNifty Jan F:  32153 [ 32200 / 31760 ]

HVNs – (31480-500) / (31830) / (32000) / 32150 / 32230 / 32380 / (32420) / 32550-565

BNF also opened with a huge gap up of 350 points and probed higher as it left a long buying tail from 31820 to 31444 and made multiple REs on the upside to leave a slow Trend Day Up as it made an elongated profile for most part of the day but ended with a small balance in the upper part which saw good volumes being built at the 32150 level which would be the reference to watch in the next session. Immediate support is at the 32040-030 zone as the PLR continued to remain higher.

  • The BNF Open was an Open Auction Out of Range (OAOR)
  • The day type was a slow Trend Day – Up
  • Largest volume was traded at 32150 F
  • Vwap of the session was at 32042 with volumes of 38.6 L and range of 440 points as it made a High-Low of 32200-31760
  • BNF confirmed a FA at 32774 on 30/12 and tagged the 2 ATR target of 32142 on 03/01. This FA has not been tagged and is now positional resistance.
  • The settlement day Roll Over point (Jan) is 32180
  • The VWAP & POC of Dec Series is 31956 & 32102 respectively.
  • The VWAP & POC of Nov Series is 30699 & 31100 respectively.
  • The VWAP & POC of Oct Series is 28784 & 28415 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 31960-32150-32199/strong>

Hypos / Estimates for the next session:

a) BNF needs to sustain above 32150 for a rise to 32216* / 32260-282 & 32335-351
b) Staying below 32130, the auction could test 32090 / 32040-30 & 31990-960
c) Above 32351, BNF can probe higher to 32400-430 / 32490 & 32550-565*
d) Below 31960, lower levels of 31910 / 31848-820 & 31760 could be tagged
e) If 32565 is taken out, BNF can give a fresh move up to 32622-634 / 32712 & 32755
f) Break of 31760 could trigger a move down to 31670 / 31600 & 31540

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