Daily market summary,plan charts and data of NF – 13Mar’26

NF closed with weakness with 3-1-3 profile after a trend day. It got gap down below 3-1-3 profile and stayed with gap..Marked a move till 23435 if stays below 23640 then spike expected to get till 23290. they gone for this move even lower till 23160 then closed at dPOc.

Gap down with selling tail.

Double disbn trend day down.

Heaviest volume day of Mar.

Not able to accept in extn singles higher is for overlap and staying below PDL is weakness.. If fails to stay below PDL then again overlap higher and test extn singles and extn handle accepts means test of selling tail odds next.

Levels wise, failing to stay below 23165 and accepting above 23230 could get 23280/23320 reject else 23370-23380 accepts means 23430 reject else 23480/23510-23520. More bullish above 23530 for 23570/23620-23640.

If fails to stay above 23360 and moves below 23300 then 23260/23220/23180-23165 probe weak below 23160 for 23120/23070/23020/22990/22950/22910/22865.

Swing move had remaining obj at 23450/23300/23200/23050/22800. It has got next leg clearing till 23200 now. Negation moves to 24000 from 24600.

Weekly and monthly:

Long term structure considered weak as large gap of Feb closed as well as comfortably accepted below budget session low 24600. Mar shown early sign for long liquidation/elongated profile down. Its maturing now. As of now triple disbn elongated profile. Staying below 24700 was looking for 24400/24300-24260 then move marked for 23950/23600/23200 in March. this week alone they have completed this entire move till 23200.

Two scenarios now a) one more push down to 23050/22850-22800 then clean bounce worst case 22600-22500 then bounce and balance b) ST bottom is done with current week move and now do pullback to 23600 worst case 23800-23850 then come down back to 23450/23200/23050/22800/22600-22500. If stays below 22500 March could have severe spike down in last week towards 22150/21600/21200.

Levels wise for next week 23450 res to balance between 23150-23450 and below 23150 could drop to 23050/22965/22850 bounce else 22600-22500.If stays below 22500 then 22150. Moving above 23450 could test 23540 reject else 23640/23730/23825 odds and tough to clear 23850 if clears then spike to 23940/24050/24180/24350-24400.

Charts and data :