Daily market summary of NF and charts, data of NF & BNF -07Feb'25

Green tickz
Feb 9
2 min read

Long liquidation day with selling tail for NF on expiry day.It accepted back below PDL with clean extn during RBI event next day then whipped higher..Attempt to accept back in selling tail failed then remained down all day to get new low and closed below dPOC.

Neutral day with FA top for NF.

Weak close as negated lower disbn of 04/02 buyers day then closed below dPOC.Likely to resolve down further as follow through from this neutral day next.23675-23700 good res zone to look for such move in next session.

Sellers failing to sustain below PDL and accepts above 23700 means we could seek balance back in 4days range.

Check plan below for trade hypos.

Weekly :

After budget event we got outside week and closed at higher quad. 23500 considered pivot for week. Goes means expected 23420-23385 bounce later stays down then 23300.Staying above 23500 marked for 23640/23720 reject else 23800 expected then marked that as solid res zone.

NF started the week below 23500 to get 23300 then bounced and above 23500 got a move above 23800 which could not sustain and gone back to pivot zone 23500 at close of week then closed below dPOC of the week. Skewed upper disbn and dPOC for the week and close suggests weakness. So, 23700 pivot now for the week to look for gap close 23465/23425 then bounce back to 23550/23700 reject else 23780/-23835 decide and anything above 23835 could get 23935/24040-24100.Staying below 23425 could get 23350/23285 bounce odds quite higher else 23220/23150/23040-23000 if sustains 22920/22820.

Monthly :

Jan monthly closed as long liquidation profile..as long as not accepting above 23800 expected to have balance Jan b value area to start Feb to test back 23420/23220/23050/22850. they are filling now between 23300-23800. Expecting to same to continue for Feb as of now. Acceptance below 23300 could test 23150/23050 extreme case 22850. And above 23800 next time we could get 23950/24100 reject and rotate down else 24300-24400 and reversal on monthly above this band towards 24600/24800/25100.

Charts and data :