Daily market summary of NF and charts, data of NF & BNF -27Dec'24

3-1-3 profile with tails at both ends on expiry day for NF.Whichever side tail accepts expected trend that side and buying tail from that session considered good one hence buyers needed to stay above 23930 to get PDH then 23/12 poor high clearance..NF did the same auction on Friday then pulled back and closed above dPOC..Above 23975 marked for 24040/24080/24110 reject else more upside marked.They moved till 24125 then rejected.

Look above 3days balance and closed above dPOC on higher value profile.

Almost a normal day. No extension beyond IB range.

Not able to accept above 24080 early in session could go for testing PDL zone if accepts then 26th buying tail test then bounce and balance odds for next session..If sustains in 26/12 tail at low then weakness..Above 24080 if sustains then bullish bias.

Am looking for next 2days balance roughly in 23850-24075-24250 zone then later could look for trend beyond this zone.

Levels wise for next session, not able to stay below 23935 and move above 23995 could get 24030-24040/24080/24110 bullish above that for 24140/24170/24210/24250-24260. Not able to stay above 24110 and move below 24060 could drop to 24030/23980-23970 weak below that for 23935/23900/23870-23860/23835 bounce else 23805-23790 if sustains 23750/23715 and below.

Weekly :

It was multi distribution down week with gap in between for NF last week. Accepting above 23700 expected balance fill in 23650-23850-23950 zone which NF did this week till expiry via 3days balance then moved higher to 24125 and closed above dVAH on inside week.

24100 res for the week to test 23935/23865/23810 bounce back to 23900/24000/24080-24100 if accepts then 24180/24260 reject else 24340-24360/24440. Weak if stays below 23790 for 23715/23650/23580/23520 bounce else 23450/23335.First half of week could have slow sessions and second half could pick up a tempo.

Monthly :

Holding below 24400-24450 expected balance and skew down and Dec is making DD down month as of now. Till NF accepts above 24450 any move on monthly time frame could be only pullback and bias is still down. Dec expecting to hold between 23850-24250 roughly and Jan looking for balance and skew down once accepts 23800 which could probe 23650/23565/23450 if sustains then imbalance down towards 23335/23220/23050. Move above 24250 if any could be mostly a whip and look for supply at 24350-24450 zone and reversal above 24450 towards 24575-24650/24750-24800.

Charts :

Daily