Daily market summary,plan charts and data of NF -17Apr'25

FA + DD + NE up day close on Wednesday for NF with bullish signs but volume was way lower. On expiry day they started with low volume then got volume to move away from 2days balance then remained higher all day to close at high.

Double distribution trend day for NF in last session.

Volume is well above average with 4IB move. Buyers in control at close with dPOC skew higher.

23720 good support for next session to seek further higher move. Once moves way above PDH then support moves to 23840.

Check plan for tradeable hypos.

Weekly and monthly :

Triple distribution week closing at higher quad of week and elongated monthly profile for Apr at close of last week. Above 23250 marked for 23400 to react as strong res zone that was and later above that marked for a move towards 23600/23700/23840. NF got a gap above 23250 and held it then weekly has moved towards 23840+ at close as spike weekly profile at high of week.

23720 becomes pivot for the week to get 23940/24040/24150 and pullback later above 24150 could move towards 24250-24300 reject else 24500 as spike again odds. Once moves above 23940 support moves to 23840 and once that goes test of 23750-23720 weak below that to test 23650 bounce else 23550/23480-23450 which is sealed now for Apr and that goes means 23365/23250 odds and quite weak below 23250 for 23140/22950/22850.

Monthly has left outside month and have never seen back to back outside months but NF this time left Mar and Apr as outside month. this could result in a) either solid rally way higher than all expectations on large time frame and if this view plays out means we could get quick move higher towards 24150/24300 pause and balance the later 24500 then once sustains there we go way higher on monthly time frame towards ATH..or b) just look above Apr high then go for filling Mar-Apr range for couple of months then decide next course of auction.

Charts and data :