Daily market summary of NF and charts, data of NF & BNF -18Sep'23

After 11days of one time frame up, NF seen sm exhaustion with narrow range lower volume session on Friday. As structure was too long, if buyers failed to sustain above Friday profile, expected balance to take place.

NF on Monday gone for stopping one time frame up with PDL swipe and then remained in tight range till close which ended with minor spike down close.

Failed auction at top in another narrow range lower volume session.

Neutral extreme down day with minor spike close.

Supply was persistent till close..3days of distribution as of now and balance signs now for few sessions..Roughly 19975-20260 range for the balance to take place.This supply have to stay below 20210 for next session to move down to test HVN zone 20125 and accepts there means further down possible.If buyers able to clear 20210 then retest of FA if accepts then more higher possible.

Levels wise for next session, not able to stay below 20135 and move above 20165 could get 20195-20210 and bullish above that for 20235/20260 if sustains 20310-20330 possible. Not able to stay above 20230 and move below 20200 could get 20165 and weak below that for 20135-20125 if sustains 20090/20065/20040 possible.

Charts and data :

Notes :

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