Daily market summary of NF and charts, data of NF & BNF -28Oct'24

Large liquidation day in last session with large selling tail.Rejection in tail expected value overlap and rejection of value and accepting tail expected skew higher. Above 24240 expected 24280 zone to reject else move higher expected till 24450. They had a rejection at 24287 and gone down at open which could not stay in value and bounced quick to clear 24287, then remained one way up first to get 24435 then pulled back and another high till 24490 done to clear PDH then closed below dPOC.

Short covering profile. 24450 ref after today's auction.Accept above this = more squeeze else rotate back down and balance to get 24300/24230/24190-24180 bounce else more weakness.

4 days of one time frame down stopped.

Swing has met downside objects and after seeing Friday auction sm balance to bounce expected towards 24420+ and it has happened today..Odds for balance now 24150-24300-24450 then decide.

Levels wise for next session, not able to stay above 24440 and back below 24390 could get 24365/24335-24325 weak further below 24320 for 24290/24260/24230/24190-24180 bounce else 24150/24115-24095. Not able to stay below 24320 early in session and moving above 24360 could get 24395/24420-24450 zone reject else more bullish above 24455 for 24485/24520/24555 if sustains then spike towards 24590/24630-650.

Charts and data :

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