Daily market summary of NF and charts, data of NF & BNF -22Mar'24

Gap up and FA low with neutral day auction on expiry day.Buyers next expected to defend 22060 else probe down marked for 22020/21990/21960-21940..NF gone for this move quick via drive at open on Friday.. and 21940-21960 zone marked for bounce being swing support.NF bounced off from 21950 quickly negating drive then gone for PDH and higher.Squeeze any marked for a move till 22260 and they done for this all day then came down to close at dPOC.

Outside day and failed trend day with good volume..Odds of balance inside this day range possible next.

NF back above 22000 for a second day so major bearishness bias now averted..Skew is for balance to higher for next few sessions..22040-22080 good swing support now.

Below 22080 first sign of weakness for next session and below 22040 more weakness for 21990/21965 if sustains 21910-21890/21850 possible.Not able to stay below 22080 could go for filling back 22140-22150/22180/22220-22240 reject else more upside towards 22290/22320/22350-22370.

Weekly :

For the week 22260 considered as immediate resistance to get 22060-22040 then 21965-21930 no bounce means 21830/21780 and below expected..NF held below 22260 and gone till 21800 for the week then bounced and closed above dPOC.. It was double disbn down week but cleared extn handle and closed at upper disbn for the week..

22040 pivot for the week now..Holding that odds for overlap in upper disbn with a move back to 22220-22260/22320/22370-22410 then reject for move down..Later above 22410 could move to 22460/22540/22630.

Not able to clear 22260 early in the week and clearing 22040 could go for filling last week DD profile with a move back to 21965/21880-21840 bounce higher else 21780/21720/21660 possible.

Monthly :

March trending up month got negated with extn down below 22200 which expected to get 21850/21700-21650.. This move got over at 21800 and with a bounce back to 22250 odds of having balance for remaining few days of month between 21950-22400 roughly..Above 22400 odds of spike back to 21540/21650. Below 21950 odds of retesting 21850-21800 then bounce higher else spike down to 21700-21650/21550.

Charts

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