Daily market summary of NF and charts, data of NF & BNF -17Oct'23

NF had a inside day last session with buyers comparatively done a better job saving FA but met with exhaustion at top..Next they expected to stay above 19780 to clear selling tail top and reach 19840 wide POC which considered as good resistance zone.

NF had a gap up today clearing that selling tail from 15/10 to reach wide POC zone 19840 but after spending more than 3 hrs could not get clear range extn which pushed for liquidation to close gap then settled at dVAL.

Failed auction at top.

Neutral extreme down day closing at dVAL..Sellers of this session should defend 19820-19840 and look for staying in double print tail below 19790 which could drag down into 2days value zone towards 19735/19715 then could see a bounce from there..If not holding there then FA test at 19685 and more possible.

Buyers should defend 19790 and move higher to accept in 19820-19840 band then more upside possible higher above this band.

Strucure wise expected auction between 19690-19850 for a session or two..Same view as volume today also on lower side..So, more of very short term players influenced auction could take place.

Levels wise for next session,move above 19830 could get 19860-19870 and above that possible to get 19905/19930-19950. Failing to stay above 19850 and move below 19820 could test 19790 if sustains 19765/19735/19715-19690 possible and further weak below that for 19665/19635-19625.

Charts and data :

Notes :

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