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

NF had a close at high after gap down in last session.Buyers needed gap/drive and then at 19565 considered as zone for rejection..They got a gap and drive and made IBH at 19580 then that rejection failed to clear IBL and close gap but got spiked higher above 19580 then all day remained in tight balance finally closed at dPOC.

Gap up and tail from buyers who held all session.Job of them for next session not to accept below 19515 and stay higher above 19570 to accept in double print tail top then move higher further.Failing to do so and staying below 19515 could close gap and repair 04/10 profile.

Above 19565 some relief expected for buyers..This has got cleared today suggesting NF could be in balance for a session or two between 19400-19660 and above 19660 swing short view negates and could get more push higher.Minor weakness now below 19470 and major weakness below 19400 to continue the move down.

Levels wise for next session,failing to stay below 19520 and move above 19555 could get 19580-19590 and above that 19625/19660-19680/19720 possible.Not able to stay above 19620 and move below 19570 could drop to 19540/19515 if sustains then 19480/19445/19415/19380-19365 possible.

Charts and data :

Notes :

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