Daily market summary of NF and charts, data of NF & BNF -08May'24

NF printed Long liquidation profile with poor low in last session. Had a flat open and gone for clearing poor low then bounced back to have two way auction then pushed higher for DD up auction, which could not sustain in selling tail of last session and gone for VAL test then closed at dPOC.

Two way overlap auction day with another poor low.

Secured high and supply still controlling auction.Buyers yet to establish control. That climax move by sellers yet to happen. Max a session or two that pending probe towards 22220/22150/22080 possible. Negation at 22500 for the view.

Immediate resistance for next session 22440 and holding that could look for overlap again and staying below 22360 weakness. Buyers need to sustain above 22440 for upside moves and once moved way higher should not accept below that again.

Levels wise for next session, move above 22445 could get 22475/22510 then reject else bullish above 22525 for 22550-560/22590/22620/22650/22690. If fails to stay below 22280 and moves above 22340 could probe 22370/22395/22420-22440.Not able to sustain above 22440 and moving below 22390 could get 22360 weak below that for 22325-22315/22280/22240/22205/22160/22080.

Charts and data :

Notes :

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