top of page

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

Writer's picture: RKRK

Normal day on expiry day suggesting imbalance next for NF. Buyers expected to clear 23390 early and defend all day in which case upside probed till 23485 then 23590 then 23690. NF stayed up with open drive to get till 23640 then got some noisy two way auction then later got clean extn and moved higher all day to get 23950 then closed above dPOC.


Triple distribution trend day up closed with dPOC skew higher. Buyers advantage at close based on auction and data.


Volume highest since Oct .


Cleared 5days high and closed at high of the week.


As long as staying above 23870 buyers could control next session. Acceptance below 23870 could test extn singles/handle/VWAP goes means weakness.


Swing short view negated at 23595.Acceptance above 23965 now opens up 24050/24150-24200 with 23750 negation.


Levels wise for next session, above 23965 could get 24005/24050/24070 if sustains 24115/24150/24180-24190 reject else 24240/24280/24315.If fails to stay below 23870 and moves above 23925 then could get 23965/24005/24040/24070. Weak below 23850 for 23820/23785/23750 quite weak below 23735 for 23705/23670-23650/23610/23570-23550. If fails to sustain above 24040 and accepts back below 23920 then could test 23880/23850.


Weekly :


It was double distribution down week with POC skew down. 23680 considered as pivot for the week. Holding this, sellers needed to get drive down to start the week to get 23550 accepts means 23465-23455 bounce else 23375-23335 expected and marked as potential halt/bounce zone for the week.NF tagged 23390 at start of week starting below 23650. After this got two way move days then ended up clearing entire week range to close at high of the week.


Lower value week closing at high with high volume day. 23820 minor support and 23750 major support for the week. As long as staying above this, upside is open towards 24040/24150-24200 which is strong resistance to reject and send back for balance.Once sustains above 24200 then relief on weekly timeframe hence could move towards 24280-24320/24395-24415 reject else 24495/24560/24650.Not able to clear/stay above 24200 could drop to 24050/23920/23850/23775-23750 bounce else weak for 23660/23560/23420 and quite weak below that for 23335/23220/23050.


Monthly :


2nd month of one time frame down with double disbn down odds were observation on monthly hence was looking for extension down till 23250 then pause expected..Any pause below 23550 and pullback means expected move back till 23940 extreme case 24040. NF paused at 23275 and pulled back to 23940+ now. Mentioned that pivot is placed for Nov at 24200. So, this pullback now clears 24040 then 24200 zone to watch next if accepts means 24350/24440/24540-24600. Reversal and spike above 24650 for 24800-24850/25050-25150. Pullback is over if this moves back below 23750 to get lower quad of monthly towards 23550/23420 and below.


Charts :


Daily









Weekly












Monthly









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.

35 views0 comments

Comments


©2025 by greentickz.

bottom of page