Daily market summary of NF and charts, data of NF & BNF -12Nov'24

NF had outside day last session and sellers needed to stay below POC early in session else sm overlap expected..they failed to stay below POC and gone for this overlap in first session then got extn down and cleared PDL then stayed down all day to close at low.Considered weak below 24175 for 24125 then quite weak below that for a probe till 23985 and NF probed all of this today.

Double distribution trend down day.

3IB down day.

24040 immediate resistance for next session as long as this holds auction could balance and move down next session..above this could go for filling in large extension singles of the day and buyers take full control above 24190.

Buyers shown no effort all day and sellers had clear control and auction incomplete at low.As mentioned in commentary,23865/23770 opened up then bounce and later 23665/23550.Negation right now at 24190 for this view and once clears 23800 negation moves to 24050.

Levels wise for next session, above 24040 could test 24075/24110/24150/24180 reject else above 24200 could get 24240/24290/24335.Not able to stay below 23850 and move above 23955 could test 23985/24025-24040 reject else more upside as mentioned above.Weak below 23920 for 23880-23865/23835-23820 bounce else 23780/23735/23665/23565.

Charts and data :

Notes :

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