In a market profile chart, the block size refers to the vertical height of a single price level in the chart.

The ideal market profile block size for any contract is subjective and depends on the preference of the trader. There is no fixed or standard block size for Nifty or Bank Nifty futures, as it can be adjusted based on the price range of the security and the trader’s trading style.

Traders may use different block sizes to display different levels of detail in the market profile chart. For example, a larger block size may provide a more simplified view of the market activity, while a smaller block size may provide a more detailed view of the price and volume distribution.

The ideally preferred block sizes for these index derivative contracts are:

NIFTY ( valued around 18000 now ) = block size between 40 and 60.

BANKNIFTY ( valued around 41500 now ) = block size between 100 and 150.

The ideal block size for Nifty and Bank Nifty futures contract changes over time as the price range and trading volume of the security fluctuates. Traders may need to adjust the block size accordingly to ensure that the chart remains relevant and provides the necessary information for making informed trading decisions..