Hamilton and Crosser proposed a model to calculate the density, viscosity and for the Reynold`s number for a given nanofluid. Changes in respective properties are observed for different volume fractions and hence there will be a change in the velocity profiles.
The attached document is a experimental work showing the effect on velocity with changing volume fractions of nanofluid.
Natural convection heat transfer for nanofluids has always been a talking point because there are lot of contradictions.Some results suggest that heat transfer performance will improve whereas some suggest that heat transfer performance deteriorates because of the addition of nanoparticles. I suggest you to go through a review article by Zoubida Haddad on "A review on natural convective heat transfer of nanofluids"