Daily market summary of NF and charts, data of NF & BNF -27Sep'23

NF had narrow range lower volume bell balanced profile in last session. Observation was that it could deliver imbalance session next. Sellers expected to act quick next session clearing 19625 for a probe of 19570/19530. They done this with a move towards 19545 in IB itself. Not able to stay below 19625 and move above 19665 marked for 19710/19730 as it was bell balanced profile in last session and they did that later then closed above dPOC.

Gap down and drive down failed to hold and ended up with 2IB upmove day.

Outside day with decent volume.Buyers of this session should defend above 19700 else repair of this elongated profile possible next.

Today's auction suggesting higher odds for balance next session than one way move..May be two way whipped auction all over possible..Context is good inside day bell balance got outside day next via elongated profile..and POC of last 4 sessions migrating sideways between 19650-19710 roughly so higher odds of good balance session next being monthly settlement.

Levels wise for next session, above 19745 could get 19770-19785 if accepts 19825/19865/19890 possible. Not able to stay below 19625 and move above 19665 could get 19700/19730. Failing to stay above 19790 could drop to 19730/19700 and weak below that for 19670/19645/19620 if sustains then 19585 and major weakness below that for 19550-19530/19490 and more.

Charts and data :

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