RK
- Nov 4, 2023
- 2 min read

Daily market summary of NF and charts, data of NF & BNF -03Nov'23

Neutral extreme up day with spike close on expiry day.Considering volume and close, expected fresh auction next.They got a large gap up then done nothing and closed as balanced profile with close below dVAL

5days of balance got extension higher via gap and gap remained unfilled at close = Bullish.

2nd day of one time frame up.

As discussed in closing commentary, spike down close from prolonged balanced profile but not closing gap means odds of trap for sellers at close.Sellers need to stay below 19340 next session to close gap else squeeze further higher.

Levels wise for next session, move above 19340 could get 19375/19405 and later sustains 19410 means 19440-19450 pause then 19480-19490 possible..Above 19490 probe is for 19545-19565.Weak below 19280 for 19255/19230-19220 and quite weak below that for 19175-19165/19135-19125.

Swing bearish view negated at 19310 and swing bullish view now opened up above 19310 as mentioned in previous reports. Probe is for 19410/19480/19540. If accepts further then 19640/19850. Negation for this view at 19200 now once moves above 19400 negation moves to 19280.

Weekly :

Trending down week closed at dPOC last week hence suggested odds of balance possible next.NF gone for such clean balance this week with two way auction then closed above VAH..19200-19230 support for the week to start and holding that upside probe possible towards 19410 rejection else 19480/19540 then pullback possible. Above 19550 could rally to 19640/19850. Quite weak below 19200 for 19135/19050/18975-18950/18850.

Monthly :

Monthly doing now balance in lower disbn of Oct. As mentioned in last week report, 19480-19540 solid resistance for and 19150 now very good support for the on going month. Holding 19150,upside extn possible towards this 19480-19540 monthly res zone and not expecting that zone to accept straight.Higher odds for rejection from there if we get there. Later if sustains this band means, clean move towards 19850 for Nov minimum obj. Rejection in 19480-19540 band could pullback to 19350/19200-19150 zone and goes means 18950-18850 again.

Charts

Daily :