Daily market summary of NF and charts, data of NF & BNF -05Dec'23

Large gap up and triple distribution trend day in last session..Volume was good with lot of commitment from buyers seen. Holding 20780 and sustaining 20815 expected probe to 20865/20890/20930. NF gone for this move till 20940 via open test drive then pullback rejected at buying tail of drive and ended up at high at close.

Buyers still holding auction and no sign of balance yet. Minor spike up close. 20890-20920 good support for next session for buyers to defend and push higher again.

Minor weakness below 20890 for overlap session and major weakness for next session only if able to sustain below 20840-20830.

6th day of one time frame up (Last report mentioned by mistake that 3days of one time frame up. Stands corrected).

Swing support holding 20680 upside probe expected for 20920/21010. NF probed 20920 today. Swing support now moves to 20750.

Levels wise for next session, open session should defend 20890-20920 and scale 20945 to get 20970/21010 if sustains 21040-21060/21100 possible. If fails to stay below 20850 and sustain above 20890 then could get 20920/20945/20970/21010. Not able to stay above 20990 and move below 20920 could test 20890 and weak below that for 20865/20840/20810 and quite weak below 20805 for 20780/20755/20725.

Charts and data :

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