RK
- Jun 8
- 2 min read

Daily market summary of NF and charts, data of NF & BNF -07Jun'24

3-1-3 profile bell balance profile close on expiry day.Expected imbalance session next. Sustaining value area considered to be trending move. NF rejected from value of 3-1-3 in IB and then got range extn higher and remained upside trending day all day then closed at high.

Triple distribution up trend day.

Almost a 3 IB day.

dPOC skew higher into close with buyers carrying inventory heavy into close. As long as they hold 23250 next session could see follow through higher towards 23390/23450 and above.If 23250 accepts down then overlap in 3rd disbn possible and extn singles below that goes means mean reversion into trend day profile odds.

NF cleared 4th Jun high in last session.23150 becomes good swing support now on daily time frame.

Levels wise for next session, not able to stay below 23250 and moving above 23290 could get 23325/23365 if sustains 23395/23450 and further squeeze above that towards 23520/23580/23640. Not able to stay above 23390 and moving below 23300 could get 23250 and minor weakness below that for 23215/23170-23150 bounce possible. Quite weak below 23120 for 23080/23040-23020 bounce else 22960/22930 probe.

Weekly and monthly :

Printed outside week now and closed around dPOC ahead of mega event last week.Got a gap up open to mark new ATH at start of week. During event started coming down. Any rejection higher and back below 22800 considered as weakness and once 22650 goes means 22400/22200-22150/22050 then bounce else 21750-21600/21200/20900/20600 probe expected.Event day resulted in large down day with a move back below 22800 to get till 21265 then bounced in remaining day to negated that days high and closed as outside week again with dPOC skew higher and closing there.

Back to back outside week and large outside month also.22750-22850 band now quite solid support for June on weekly and monthly time frame.Holding above band upside is open towards 23450/23540-23600 pause and later towards 23700/23840/23920.Pullback any in coming week zones to look for support is 23150/22950-22920.If fails to hold 22920 then test of 22850/22750 then bounce and goes means 22680/22620/22550/22475/22375/22240.

Charts :

Daily