Daily market summary of NF and charts, data of NF & BNF -02Nov'23

NF had a poor low close in last session after stopping 3days of one time frame up..Above 19175 was for squeeze and from 19250 old supply zone expected rotation down..NF had a clean gap and rejected from 19250 zone to rotate down to close gap then left tail at low and closed at high.

Neutral extreme up day (Barring freak high auction wise clean NE day at close).

Minor spike close.Spike rules apply for next session..Hold/stay above spike = bullish else weakness.

Solid volume day almost equal to big break down day of late Oct..As discussed in commentary, today's auction of tail low and bounce with volume tilted lot of inventory..Fresh move they could plan post this NE day.

Buyers need to defend spike/VWAP zone and stay higher for next session so 19220-19200 support for them..Sellers need to push below 19200 to travel back in today's profile towards 19165 and more weakness below 19165.

Levels wise for next session, move above 19255 for 19280/19310/19340/19380-19395 then further bullish above 19410 for 19440-19450/19480-19490..Not able to stay above 19290 and move below 19220 could get 19195/19165 and weak below that for 19135-19125.

Swing in balance mode rejected at 19250 old supply zone at open but today closed at upper end after 5days of bell balance.Today low 19140 now good swing support.Acceptance higher above 19250 could get to 19310 zone to negate large swing bearish view..As mentioned in last few reports, odds of rally to 19365/19410 above 19310 with negation at 19200. Pullback possible from 19410-19420 and later sustains 19420 means further probe is towards 19550/19640/19850.

Charts and data :

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