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Market Profile Analysis dated 24th Jan 2025

Nifty Jan F: 23113 [ 23375 / 23071 ] Open Type ORR (Open Rejection Reverse) Volumes of 22,096 contracts Average Initial Balance 182 points (23321 – 23139) Volumes of 63,659 contracts Above average Day Type Neutral Extreme – 304 pts Volumes of 2,75,484 contracts Above average NF opened higher and confirmed an ORR (Open Rejection Reverse) […]

Nifty Jan F: 23113 [ 23375 / 23071 ]

Open Type
ORR (Open Rejection Reverse)
Volumes of 22,096 contracts
Average
Initial Balance
182 points (23321 – 23139)
Volumes of 63,659 contracts
Above average
Day Type
Neutral Extreme – 304 pts
Volumes of 2,75,484 contracts
Above average

NF opened higher and confirmed an ORR (Open Rejection Reverse) to the downside swiping through previous value and range in the IB after which it made the dreaded C side extension to 23113 triggering a short covering probe above IBH confirming a FA at lows and promptly completing the 1 ATR objective of 23338 while making a high of 23375 in the F TPO tagging the anomaly from 21st Jan.

The auction left a small responsive selling tail and got back into the IB in G period even breaking below VWAP in the H marking the return of aggressive supply who then went on to negate the morning FA of 23113 and made new lows of 23071 before closing the day around the POC of 23115 leaving a Neutral Extreme Day Down.

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Daily Zones
  • Largest volume (POC) was traded at 23115 F and VWAP of the session was at 23218
  • Value zones (volume profile) are at 23088-23115-23270
  • HVNs are at 23264** / 23645 / 23798 / 24113 / 24285 (** denotes series POC)
Weekly Zones
  • Weekly Charts can be viewed here
  • (17-23 Jan) – NF has formed a Neutral Centre weekly profile with overlapping to lower Value at 23110-23266-23332 and has a good chance of moving away from the prominent 2-week overlapping POC provided it gets some initaitive volumes in the final weekly settlement of Jan
Monthly Zones
  • The settlement day Roll Over point (Jan 2025) is 23915
  • The VWAP & POC of Dec 2024 Series is 24193 & 24621 respectively
  • The VWAP & POC of Nov 2024 Series is 23978 & 24185 respectively
  • The VWAP & POC of Oct 2024 Series is 24776 & 24400 respectively
Business Areas for 27th Jan 2025
Up
23115 – POC (24 Jan)23155 – SOC (24 Jan)23218 – NeuX VWAP (24 Jan)23266 – G TPO VWAP (24 Jan)23326 – SOC (24 Jan)23375 – Weekly IBH
These levels are best actionable once we get confrimation from the OrderFlow charts
Down
23107 – HVN (24 Jan)23073 – Buy tail (24 Jan)23027 – Buy tail (22 Jan)22982 – Weekly 1.5 IB22923 – 1 ATR (SOC 23155)22875 – 1 ATR (HVN 23107)
These levels are best actionable once we get confrimation from the OrderFlow charts

BankNifty Jan F: 48375 [ 48950 / 48252 ]

Open Type
OAIR (Open Auction)
Volumes of 7,241 contracts
Below average
Initial Balance
399 points (48774 – 48375)
Volumes of 26,522 contracts
Below average
Day Type
Neutral Extreme – 698 pts
Volumes of 1,25,560 contracts
Average

BNF formed a Neutral Extreme Day to the downside after making an OAIR start and completing the 80% Rule in previous value but could not sustain above yVAH resulting in sellers taking advantage and forming a big drop in the second half of the day with the dPOC shifting lower to 48365 where it closed.

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Daily Zones
  • Largest volume (POC) was traded at 48365 F and VWAP of the session was at 48572
  • Value zones (volume profile) are at 48305-48365-48695
  • HVNs are at 51491 / 49529 / 48716**(** denotes series POC)
Weekly Zones
  • Weekly Charts can be viewed here
  • (17-23 Jan) – BNF has formed a Neutral Centre weekly profile with overlapping to lower Value at 48482-48698-49130 and has a good chance of moving away from here provided it gets some initaitive volumes in the final weekly settlement of Jan
Monthly Zones
  • The settlement day Roll Over point (Jan 2025) is 51750
  • The VWAP & POC of Dec 2024 Series is 52436 & 53355 respectively
  • The VWAP & POC of Nov 2024 Series is 51417 & 52129 respectively
  • The VWAP & POC of Oct 2024 Series is 51559 & 51239 respectively
Business Areas for 27th Jan 2025
Up
to be updated…
Down
to be updated…

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