Daily market summary of NF and charts, data of NF & BNF -06Jun'24

NF had triple distribution up day in last session..Buyers job next was to sustain above 22680 which they did in IB and later post IB started moving above maj res zone 22850 which expected to get towards 23050 then decide there..NF made a move till 22975 then failed the drive up which pushed to test morning tail and bounced to remain as two way auction profile all session then closed above dVAH..

3-1-3 profile will bell balance and tail at both ends..Imbalance session next likely..Sustain value area = trend else move to other end of value area then look for directional move that side..

Buyers today made good effort between 22750-22800 zone to push higher and defended on the move down..Weakness next if this band goes.

Buyers job next session is to hold 22840 and push higher above VAH/PDH and once done never get back to value area..If 22840 goes means overlap first and then later 22750 goes means liquidation towards 22680/22580/22500-22450.

Levels wise for next session, failing to stay below 22880 and move above 22940 is for 22980/23020/23060-23075 and above 23100 could get 23150/23190-23220..If fails to stay above 23020 and moves below 22890 could get 22840/22800/22755 weak below if sustains 22750 for 22715/22680/22635/22580-22565.

Charts and data :

Notes :

a) Check glossary page in website if any of the terms used in the post are not clear.

b) If images are not clear, click on them for enlarged view.