Daily market summary of NF and charts, data of NF & BNF -17Oct'24

3-1-3 profile in last session and they started accepting below VAL early with drive and stayed down all day. As long as we stay below 25115-25140 expiry expected to be on lower side. Considered weak below 24990 for 24950 no bounce means marked for more weakness till 24820. It has gone for entire move probing 24820 then closed at dPOC.

Large composite of Oct now resolved downside with large tail today.Weak swing low at Sep low printed today.

Long liquidation profile.

As discussed today in commentary, swing has opened up for 24750/24665/24450/24200 with negation at 25150 now.

Levels wise for next session,24890-24920 immediate resistance to retest day low 24815 and sustains means 24775/24750-24735 then need a solid bounce from there..Later accepts 24725 means 24695/24665/24630/24595/24565. Bounce any should reject 24890-24920 band else mild bullish above 24935 for 24970-24980/25015 reject else 25040 if sustains 25075/25110. More strength above 25115 for 25140/25175.

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.