Daily market summary of NF and charts, data of NF & BNF -22Jul'24

Clean trend day down closing at low with dPOC down with incomplete auction at low in last session after clearing FA low at 24510. NF had a gap down today but closed gap quick with open test drive up then started accepting above 24535 POC which pushed it higher further.After IB swipe higher, met with exhaustion which lead to testing buying tail at low then closed at dPOC after a balance.

Large buying tail as well as selling tail at top today.

Back to back imbalance days could not accept back and rejected well below VWAP of last trend day down and pushed for dPOC close. Lack of demand after IB session today.

Value overlap to accept back in buying tail early in session possible next with no demand close today. If rejects quick from buying tail and accepts back in value, could go for testing selling tail if accepts then squeeze higher possible.

Clearly accepting in buying tail with value, could go for clearing PDL and then should get support around 24355 for a bounce, if stays below this then more liquidation odds.

Staying below 24575-24595 overlap to 24525/24495/24460/24425 bounce else 24375-24355 and this could get accelerate if sustains below 24330 for 24290-275/24240-24230/24180/24140/24100-24080/24030/23980-23970. Unable to stay above 24750 and moving below 24680 could get 24640-24620/24575/24525/24490/24460/24425.

Not staying below 24425 and moving above 24510 could get 24550 bullish above that for 24595/24635/24675 reject else 24725/24760 reject else 24800/24845/24890/24940/25020 possible.

Charts and data :

Notes :

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