Daily market summary of NF and charts, data of NF & BNF -05JuL'24

Green tickz
Jul 7, 2024
2 min read

NF printed 3-1-3 profile with tails at both end and balance in between on expiry day. Considered weak below 24360 for 24315/24285/24255-24240/24215.NF stayed below 24360 VAL of 3-1-3 with drive down to probe till 24240 during IB then bounced and stayed in balance holding around 24360..Later towards close got spike above 24360 to test VAH of previous session then closed above dVAH.

Lower value session with spike up close. Not able to close at spike extreme and closed at mid of spike hence job of buyers next to defend spike low for bullishness else value overlap auction possible. 24365-24419 spike zone.

3days of one time frame up stopped.

Exhaustion signs were there with inventory booking out profit during expiry day. Expected balance. Friday auction also suggesting same. Roughly 24200-24450 for balance now before next directional move. Swing probed all its obj earlier till 24440. Support at 24280 gone also now. After balance later sustains above 24450 with value and volume then swing could move towards 24540-24575/24650-24680 next.

Levels wise for next session, move above 24425 could get 24450/24475 and further bullish above 24490 for 24525/24550-24560/24590. Not able to stay below 24320 and moving above 24375 could get 24405/24435-24445/24475. Failing to stay above 24440 and moving below 24400 could get 24370-24355 weak below that for 24325-24315 if sustains 24285/24255-24240/24215-24205 possible.

Weekly :

NF last week closed as multi distribution trending week. Holding 24050 expected probe higher till 24250 then for 24420-24450. NF gone for this move this week and closed above dPOC of higher value week. 24315 support for the week. Holding this fill back higher towards 24450 possible then pullback and later stays above 24450 with volume/value means upside could move towards 24540/24620-24650/24720 and extreme case for 23790-23820. Move below 24315 could test 24260/24205 then bounce possible. Staying below 24205 could get 24145/24090 zone then bounce possible. Weakness if stays below 24090 for 24030/23965.

Monthly :

June had outside month close and for July considered 23900 immediate support to get 24340/24450/24600-24650. July started and holding well around/above June high.As long as holding above 23900, July to have balance and skew higher towards 24600-24650/24800 then could retrace down. Below 23900 test of 23700-23600 then bounce possible. Below 23600 could get 23440/23300-23250.

Charts :

Daily