Daily market summary of NF and charts, data of NF & BNF -15Apr'24

Large gap down with NF today after accepting back in lower balance of Apr with DD down day close in last session.

Failed auction at top.

Neutral extreme down day with close at low with decent volume than average.

Swing has opened up 22260-22240/22150/22090-22060..Immediate resistance now at 22440-22470 band for this view..If accepts above 22470 then one pullback possible higher..Once that is done and we move below 22400 again then same swing obj possible in coming week.

Apr got extn down today which turns weekly into neutral bearish view with 22660-22700 as solid resistance on weekly time frame.As long as staying below this band looking for the week to go for sideways to downskew auction.

For next session, 22425-22440 res zone..As long as holding this, looking for downside probe to continue..Accepting above 22440 could go for overlap in value area and test selling tail then reject else push higher to probe in gap zone.

Levels wise, move above 22395 could test 22425/22450-22465 reject else 22495-22510 possible and move above 22520 could get 22550-22560/22590-22610 if sustains 22640/22670. Not able to stay above 22440 and moving below 22390 could get 22360-22345 weak below that for 22320/22290/22260-22240.

Charts and data :

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