Monthly (March 2020) charts and Market Profile analysis

Nifty Spot – 8598 [ 11433 / 7511 ]

Monthly Profile (March 2020)

Nifty has made a humongous 3922 point range in the month of March which was a trending month lower taking out the gains of last 4 years as it made a low of 7511 on 24th Mar which was last seen in April 2016 where it left a FA on daily time frame which marked the lows of the month. The monthly profile has extension handles at 11064 / 10950 & 10050 apart from couple of daily FAs at 9602 & 9404 which would be the important references on the upside in the coming month above the swing high of 9039. The monthly Value was completely lower at 7704-8592-9624.

Click here to view the MP Lite Chart of the March profile moving away from the earlier 4-month composite

Monthly Zones:

The VWAP of the March 2020 series is at 9146 spot and the POC is at 8592
The settlement day (Apr) rollover volume point is at 8686 F.

The VWAP of the February 2020 series is at 11944 spot and the POC is at 12125
The settlement day (Mar) rollover volume point is at 11610 F.

The VWAP of the January 2020 series is at 12178 spot and the POC is at 12132
The settlement day (Feb) rollover volume point is at 12044 F.

The VWAP of the December 2019 series is at 12087 spot and the POC is at 12182
The settlement day (Jan) rollover volume point is at 12193 F.

The VWAP of the November 2019 series is at 11954 spot and the POC is at 11910
The settlement day (Dec) rollover volume point is at 12153 F.

The VWAP of the October 2019 series is at 11461 spot and the POC is at 11365
The settlement day (Nov) rollover volume point is at 11970 F.


BankNifty Spot – 19144 [ 29791 / 16116 ]

Monthly Profile (March 2020)

BankNifty also made a staggering 45% drop on the monthly profile from the February close of 29147 as it made a 13675 points range in March 2020 falling to levels last seen in May 2016 as it made lows of 16116 on 24th Mar taking support there as it left a FA thereby giving a bounce to 21462. The monthly profile has extension handles at 28535 & 26324 and the Value formed is completely lower at 17520-20248-25200.

Click here to view the MP Lite Chart of the March profile of BankNifty

Monthly Zones:

The VWAP of the March 2020 series is at 22104 spot and the POC is at 20248
The settlement day (Apr) rollover volume point is at 19380 F.

The VWAP of the February 2020 series is at 30692 spot and the POC is at 30692
The settlement day (Mar) rollover volume point is at 30520 F.

The VWAP of the January 2020 series is at 31425 spot and the POC is at 32104
The settlement day (Feb) rollover volume point is at 30726 F.

The VWAP of the December 2019 series is at 31956 spot and the POC is at 32102
The settlement day (Jan) rollover volume point is at 32180 F.

The VWAP of the November 2019 series is at 30699 spot and the POC is at 31110
The settlement day (Dec) rollover volume point is at 32160 F.

The VWAP of the October 2019 series is at 28784 spot and the POC is at 28415
The settlement day (Nov) rollover volume point is at 30150 F.