Daily market summary of NF and charts, data of NF & BNF -14Feb'25

Failed trend day on Thursday and with dPOC skew down close with weak low hence expected skew down further.Repair expected till 22965 minimum holding below POC.NF failed to sustain above POC and gone for skew down move on Friday to clear 22965 as well as got new low below previous FA low 22900 then bounced and closed at dPOC.

Long liquidation day.

Double distribution down 3IB day.

As long as staying below 23120-23135 band looking for fill back value area of last session then bounce any needs to clear above band to have short covering move.

Swing wise 22900-23325 balance expected and same bias now and value/volume below 22900 could get more liquidation next.

Check plan below for trade hypos.

Weekly :

Last week closed below dPOC of the week with skewed upper disbn hence observation was weakness holding below 23700 to look for 23425/23285/23000/22920/22820 for the week. NF gone for lower skew week holding 23700 to mark till 22850 then closed below dPOC.

23135 pivot for the week.Holding this could retest 22900/22815 bounce else 22730/22665/22580-22550 odds then bounce. Above 23135 could get 23240/23320 reject else 23465/23540/23670 then rotate down odds.

Monthly :

Jan monthly closed as long liquidation profile..as long as not accepting above 23800 expected to have balance in Jan b value area to start Feb to test back 23420/23220/23050/22850. they were filling start of Feb between 23300-23800. Acceptance below 23300 expected Feb to test 23150/23050 extreme case 22850. This move fully done now. Monthly res moves to 23500.Looking for balance in 22900-23300 then above 23300 means test of 23500/23650/23840. and below 23900 if sustains could get 22750/22650/22550.

Charts :

Daily

Weekly

Monthly

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.