Daily market summary of NF and charts, data of NF & BNF -24Jan'25

Green tickz
Jan 26
2 min read

Large buying tail and short covering profile for NF on expiry day. Buyers had to get drive/gap up early defending 23265 else marked weak below 23245 for 23150 then bounce expected. They failed to stay above P and gone down during IB to clear PDL with a move till 23115 then bounced to get PDH which could not sustain again then ended up moving down till close to get new low and then closed at dPOC.

Outside day.

Neutral day.

dPOC skew down and closed there below PDL and at lower end of the day. Sellers need to get early follow through downside else overlap and repair of poor value area from last session. 23180-23220 good res zone for next session to look for chop and skew down.

Two good outside days in the week both closing at lower end suggesting last week low tough to hold and we may go down further early in the week. As long as we stay below 23375, swing down move towards 22950/22850/22740/22650 possible. Once gets new low below 23020 res moves to 23220.

Levels wise for next session, move below 23075 could get 23045/23015/22975-22965 bounce else 22935/22900/22865-22850. Not able to stay above 23165 and move below 23110 could get 23075 then rest of levels as marked above.Failing to stay below 23040 and move above 23125 could get 23160/23195-23210 reject else bullish above 23220 for 23255/23285 reject else 23315/23345.

Weekly :

Weekly expected imbalance after last week auction but ended up as outside week overlap auction and closed at lower quad. 23375 res for the week to look for balance and move down towards 23040/22950/22850/22750/22650. Once moves below 23020 res moves back to 23220. Not able to stay below 23040 and back to 23220 and accepts means chances for one more overlap week with a move back to 23320/23410 reject else 23475 and above that spike to 23550-23600 then reversal towards 23840/23940-23980.

Monthly :

Jan monthly DD down bias marked and its in same auction as of now. same res 23600 to have either closing Jan in 23500-23000 range roughly or get extn down this week towards 22900-22850/22650 then bounce and balance. View negates above 23600 for monthly weakness bias as that could move towards 23840/24000 which is major pivot and goes means 24300-24400.

Charts :

Daily