Daily market summary of NF and charts, data of NF & BNF -30Jan'24

NF had a short covering profile with dPOC skew at top in last session. Buyers needed drive/gap up and once done expected not to accept in value if done then probe was for 21760/21695. NF got a gap but could not sustain above last session P profile and started accepting in value area and having such prolonged acceptance in poor value area lead to liquidation towards close to get 21760/21695 and below to repair the profile of last session.

Selling tail and liquidation day ended with spike close.

Spike zone is large with range of 21745-21690-21607..Stay below spike low = weak else look for two way auction inside spike zone and later accepts spike high means bullish..

Last day left poor value area and anomaly and expected repair back in 2-3 sessions..This is done in next session itself.Today auction also left anomaly in profile and repair needed back till 21790/21840 and expecting to happen in a session or two..

Odds are higher to have next session inside two days range to make it as 3days composite moving into big event.

Levels wise for next session, not able to stay below 21610 and move above 21650 could get 21690-21705/21740-21755 and pullback and later could get 21780/21810/21845 once accepted in spike. Anything above 21860 could get 21890/21925. Not able to stay above 21710 and move below 21680 could get 21650/21615 and weak below 21610 for 21580/21555 then bounce else 21525-21490 probe and further weak below 21490 for 21450/21415-21400.

Charts and data :

Notes :

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