Daily market summary of NF and charts, data of NF & BNF -13Feb'24

NF had outside day in last session with long liquidation auction..Buyers were missing..21750/21810 two zones marked as res.If buyers not able to stay above this expected push down to 21650/21610 then bounce expected..NF held below 21750 at open and gone for 21625 in IB via drive then drive failed to get a move higher. Failing to stay below 21620 and move above 21690 marked for 21720/21750 then 21785/21810-21820 expected which they did post drive failure and remained as short covering profile all day then closed at dPOC.

Buying tail and short covering profile.

Look below 2days balance failed then closed with dPOC skew higher with 3 days as 3-1-3 composite now and also closed at dPOC of 12 days Feb composite.

Daily profile got dPOC skew at higher then closed there.

Structure and data at close suggesting advantage buyers.Intra support 21765 and swing support 21690-21720 now for buyers to defend and push higher. Mild weakness below 21765 to test swing support and solid weakness if stays below 21690 to travel in today buying tail and look for new low.

Levels wise, weak below 21720 for 21690-21675/21650/21625/21590-21570 if sustains 21550 then 21525/21495/21450/21415-21400 possible. Failing to stay below 21710 and move above 21780 could get 21815/21845 further bullish above that for 21875/21905/21945-21960. or failing to stay below 21620 and move above 21680 could get 21710/21745/21780/21815/21845.

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.