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Daily market summary of NF and charts, data of NF & BNF -18Dec'24

Long liquidation auction in last session for NF with incomplete auction at low. One more push down towards 24320/24290 expected and they tagged 24320 quick at open then failed the drive..24410-24480 marked as whip zone and once whip done staying below 24380 expected move towards 24320/24280 then 24235..They did this after failing the drive then gone for lower balance all day and closed at dPOC.


Supply ruling auction and not done their job yet. Good selling tail today and 24410 good res for the week to look for auction to continue down further.


Major nuance of the day is heavy volume triple disbn day of 13/12 cleared fully which makes room for range extn down for the week. May be after one more push we could have small relief move then could continue down again..As long as 24410 not accepting looking for more downside towards 24165/24075 and below.


Levels wise for next session failing to stay above 24315 and back below 24270 could get 24235-24220 weak below that for 24190/24165 if sustains 24130/24095/24065/24020/23990 odds. Not staying below 24180 and move above 24265 could get 24295/24325 reject else 24360-24370 reject and bullish above 24380 for 24415/24450-24465 if accepts 24480 then 24515/24550/24595/24620/24680/24730 odds.


Charts and data :













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