Daily market summary of NF and charts, data of NF & BNF -25Sep'23

NF gone for 5th day of one time frame down.

Pause in supply seen today and that has been used by buyers to print failed auction at low and close at dVAH..

Neutral center day and buyers of this session should defend 19625-19645 now to stay higher and better push higher early in the session above 19735 to get 19780+. Failing to do so overlap possible.

With poor low in last session observation was that swing move not over and could stretch till 19625-19575..This is done now and we got good swing low in the form of FA now.Swing resistance now moves down to 19825.

Two scenarios now for swing a) hold this swing low and make balance between 19625-19825 roughly then later move beyond this zone may be after a session or two..b) Failing to stay higher and accepting below 19625 with value starts next leg of swing down move towards 19570/19520-19485/19420-19400 if no response there then more weakness towards 19200.To consider any move above 19825 towards 19920/20035, we need to check data in coming sessions from buyers side..As of now no indication for that.

Levels wise for next session, not able to stay below 19645 and move above 19680 could get 19710/19735 bullish above that for 19770-19785 if accepts 19825/19865/19890-19910 possible. Not able stay above 19780 could drop to 19740 if accepts 19715/19685/19650 and weak below that for 19625-19615/19585-19570 if sustains 19530/19505/19485/19455/19420 possible.

Charts and data :

Notes :

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