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Market Profile Analysis dated 23rd Jan 2026

Daily MarketProfile Analysis of NF & BNF along with Business Areas for next session

Nifty Jan F: 25079 [ 25379 / 25045 ] Triple Distribution (Down)

Open Type

OAIR (Open Auction)

Volumes of 6,075 contracts

Below Average

Initial Balance

25379 - 25282 (98 points)

Volumes of 15,759 contracts

Below Average

Day Type

25379 - 25045 (334 points) Triple Distribution

Volumes of 1,08,546 contracts

Above Average

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NF made an OAIR start on low volumes and formed an below average range IB (Initial Balance) after which it made a C side extension lower which immediately triggered a bounce above VWAP but the probe into the A singles was rejected indicating lack of demand and this brought back the sellers into play as they made a fresh RE (Range Extension) lower in the D followed by a trending move which went on to test the 21st Jan responsive tail while making a low of 25045 and saw the dPOC shift lower to 25092 signalling profit booking.

The MarketProfile concepts of RE, FA and TPOs are explained in the Glossary section - kindly refer to https://vtrender.com/glossary

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Daily Zones (Click for details)

  • Largest volume (POC) was traded at 25092 F and VWAP of the session was at 25199

  • Value zones (volume profile) are at 25048-25092-25216

  • HVNs are at 25793** / 26324 (** denotes series POC)

Weekly Zones (Click for details)

  • Weekly Charts can be viewed here

  • (14-20 Jan) - NF formed a Neutral Extreme profile to the downside after getting rejected at previous week's VWAP forming a HVN at 25935 and trending lower to 25224 into the close forming overlapping to lower Value at 25224-25237-25732 as the POC shifted to the lows indicating profit booking by the sellers with the NeuX VWAP of 25634 now being the Swing supply point for the last week of this series

  • (07-13 Jan) - NF has formed a Trend Down weekly profile of 725 points culminating in a 3-day balance with a close at prominent POC of 25790 which will be the reference for the next week with the Trend VWAP of 25908 being a swing supply point

Monthly Zones (Click for details)

  • The settlement day Roll Over point (Jan 2026) is 26133

  • The VWAP & POC of Dec 2025 Series is 25988 & 25937 respectively

  • The VWAP & POC of Nov 2025 Series is 25915 & 25969 respectively

  • The VWAP & POC of Oct 2025 Series is 25501 & 25875 respectively

  • The VWAP & POC of Sep 2025 Series is 24897 & 24660 respectively

Business Areas for 27th Jan 2026

(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow)

Up

25100 - HVN (23 Jan)

25148 - PBH (23 Jan)

25199 - VWAP (23 Jan)

25244 - H TPO VWAP (23 Jan)

25293 - E TPO POC (23 Jan)

25340 - Weekly IBH

Down

25060 - Tail (23 Jan)

25003 - Gap mid (Jan)

24951 - 1 ATR (25199)

24900 - 1 ATR (25148)

24852 - 1 ATR (25100)

24812 - 1 ATR (25060)

You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here

WhatsApp me (Uttam Goel) on +91 90362 79747 if you need more information


BankNifty Jan F: 58522 [ 59464 / 58370 ] Trend (Down)

Open Type

OAIR (Open Auction)

Volumes of 1,635 contracts

Below Average

Initial Balance

59464 - 59119 (344 points)

Volumes of 5,595 contracts

Below Average

Day Type

59464 - 58370 (1094 points) Trend

Volumes of 34,892 contracts

Above Average

BNF also began with a low volume OAIR start but showed rejection in the probe above previous Value confirming that the PLR (Path of Least Resistance) was to the downside and went on to form an elongated 1094 points range Trend Day almost testing the swing low of 21st Jan while hitting 58370 in a spike close.

Click here to view the latest profile in BNF on Vtrender Charts

Daily Zones (Click for details)

  • Largest volume (POC) was traded at 58664 F and VWAP of the session was at 58887

  • Value zones (volume profile) are at 58382-58664-59010

  • HVNs are at 59954** (** denotes series POC)

Weekly Zones (Click for details)

  • Weekly Charts can be viewed here

  • (19-23 Jan) - BNF opened the week with a narrow range Normal Day but left similar highs in the attempt to get above previous week's value indicating limited upside after which it made a trending move lower dropping to 58350 on Wednesday but left a pretty long responsive tail till 58668 resulting in a bounce back to 59631 where once again the sellers came back strongly right at the RO point and pushed it back down to 58370 on Friday leaving a Trend Down weekly profile with completely outside Value at 59025-59775-60044 with the VWAP at 59253

  • (12-16 Jan) - BNF has formed a NV up with mostly lower value at 59308-59746-60000 but has moved away from this with an extension handle and tagged the previous week's POC of 60158 so this week's VWAP of 59788 will be an important swing reference for the coming week for more upside

Monthly Zones (Click for details)

  • The settlement day Roll Over point (Dec 2025) is 59599

  • The VWAP & POC of Dec 2025 Series is 59257 & 59283 respectively

  • The VWAP & POC of Nov 2025 Series is 58602 & 58937 respectively

  • The VWAP & POC of Oct 2025 Series is 57124 & 58160 respectively

Business Areas for 27th Jan 2026

(These are the actionable levels to watch out where we can initiate fresh trades based on getting further confirmation from the OrderFlow)

Up

58538 - Spike (23 Jan)

58664 - POC (23 Jan)

58773 - PBH (23 Jan)

58887 - VWAP (23 Jan)

59000 - Ext Handle (23 Jan)

59130 - HVN (23 Jan)

Down

58517 - M TPO h/b (23 Jan)

58430 - 1 ATR (59000)

58317 - 1 ATR (58887)

58203 - 1 ATR (58773)

58094 - 1 ATR (58664)

57968 - 1 ATR (58538)

You can check the monthly charts & other swing levels for both Nifty & BankNifty here & for the weekly charts & analysis, please click here

WhatsApp me (Uttam Goel) on +91 90362 79747 if you need more information