Daily market summary of NF and charts, data of NF & BNF -21Jun'24

Buyers advantage at close on expiry day..Open next on Friday favoured them at PDH zone but could not get extension and gone for overlap accepting POC which lead to liquidation then all day stayed inside that balance of 23400-23650 zone with wild two way move then closed at dPOC.

3IB down day.

Outside day.

Sellers advantage at close. Holding below 23540-23565 band likely to get lower quad overlap and follow through downside.If accepts this band means another overlap balanced day possible.Solid squeeze if sustains 23630 with volume in next session.

Levels wise for next session,move above 23510 could get 23540-23550 reject else 23580/23610-21620 and more bullish above 23635 for 23660/23690-23710 if sustains then 23750/23780. Not able to stay above 23540 and moving below 23480 could get 23440-23420 weak below that for 23380/23350/23325 and bounce else 23280 and more liquidation below that towards 23240-23225 and lower.

Weekly :

NF after closing as short covering week considered 23410 as pivot and upside marked for 23540/23620/23700+. NF probed 23670 and traded between 23410-23670 for the week then closed below VAL of well balanced week = weakness..

23570 pivot for the week.Holding that overlap down and swipe below last week low to get 23350/23280/23240 kind then bounce expecting, to make two weeks balance into one large balance i.e, 23200-23350-23450-23565 kind of balance mode for coming week.If stays below 23225 then more liquidation towards 23150/23100-23050 then bounce possible. If accepts above pivot 23570 then test of 23640/23690-23720 reject else 23780/23840/23920 for the week.

Monthly :

Same view as mentioned in last week report for June.23150 solid support for June now..As long as staying above that June month expected probe towards 23600/23840-23920. As of now 23600 done.Weakness only below 23150 on monthly time frame which could get 23050/22920 bounce else 22850/22750 possible.

Charts :

Daily