Daily market summary of NF and charts, data of NF & BNF -16Oct'24

Long liquidation day with large selling tail in last session.Marked 25175 as resistance zone to fill back 25090/25015/24985/24950. NF had a open below PDL and got open drive which just whipped 25175 and failed the drive then gone down till 25970..Bounce happened in second session which also failed below 25175 and moved down to close below dPOc.

3-1-3 profile with tail at both ends and two way auction between tails.Sustain value area = trend else fill back in value area next possible.

As long as we stay below 25115-25140 expiry likely to be on lower side for next session.Need good volume and auction to clear this and sustain now.

Levels wise for next session,holding 25115 looking for chop and move back to 24990-24980 if sustains 24950 swipe then bounce else more weakness towards 24915/24885/24850/24820.Not able to stay below 24980 and acceptance above 25045 could get 25075/25105-25105 reject else 25140/25175 and further bullish above 25185 for 25210/25240-25255.

Charts and data :

Notes :

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