Daily market summary of NF and charts, data of NF & BNF -21Feb'25

Green tickz
Feb 23, 2025
2 min read

Low volume and range with no tempo day for NF on expiry day with no demand at close.

If buyers not able to clear 22990-23005 band expected liquidation to clear stacked lows of Feb.NF gone for this move in IB/IB swipe then all day remained as long liquidation profile.

Buyers got decent low below 5days low/Jan low but at close data was quite flat with buyers..So, they need follow through next session else liquidation below this low.

Swing wise marked down for 22850/22780/22720/22665 after that push above balance and failure on 19/02. It has now cleared 22780 and remaining obj are 22720/22665/22590-22550 zones with negation now moving to 22950.

Check plan below for trade hypos.

Weekly :

NF had lower skew week and closed below dPOC last week. 23135 considered as pivot for the week. Holding this expected retest 22900/22815 bounce. They retested 22825-22845 band twice then bounced which could not clear 23135 pivot then closed at dVAL below Jan low on bell balanced profile for the week.

Pivot for the week at 22950 now. Buyers need to clear this pivot else could move down towards 22720/22665 bounce else 22590/22535-22500 solid support zone to bounce it back.Not able to stay below 22750 and moving above 22860 could get 22925-22950 reject else 23025-23050 easy and once sustains above 23050 it could move towards 23135-23150/23225/23300. If at all sustains below 22500 then 22395/22265 probe odds.

Monthly :

Monthly resistance for Feb marked at 23500.Expectation was to look for balance in 22900-23300 then below 22900 marked downside for 22750/22650/22550.NF extended down for Feb towards 22750 this week. Same res zone for the month at 23500 and upside any now capped at 23150-23300 max.If clears 23300 then test of 23450-23500 zone. Downside extends further means could clear next two zones 22650/22550 and should hold around there for sm decent bounce and balance. Staying below 22500 could get spike down close for month towards 22300-22250/22050.

Charts :

Daily