18th Mar 2020

NF closed at 8900. The price broke IBH but was not able to touch YPOC. D period reversed, IBL was broke at L Period and NF Closed at lows. The day was neutral extreme down day.

Weekly Profile Standpoint.

Last two trading sessions, NF was auctioning around Friday B Singles between 9250 and 9050. VAs and POCs are formed in the singles zone. Because this is the zone where NF shot up after a gap down open on Friday (13th Mar 2020).

Important Zones for NF to watch are

  • The gap between 10300 and 10085
  • Friday Low 8300
  • The gap between 10830 and 10690 (Very difficult for NF to break / penetrate this gap)
for BNF to watch are
  • The Gap between 25520 and 25960
  • Friday Low 21000
  • Gap between 28210 and 27955 (Difficult for BNF to break upside)

For NF, Short term, if the Friday low holds (which will mostly hold). i anticipate the price to bounce off to test Friday High 10130 level and later it might break that level to test 10500 / 10600 zone. The swings will be huge due to high ViX Environment.

NF VAs
VAH - 9300
POC - 9202
VAL - 9080

BNF VAs
VAH - 23370
POC - 22926
VAL - 22668

On 18th March 2020, Any open above YPOC and Drive up, go long to test 9380 / 9400 / 9500 levels

Any open below YPOC or YVAL, any rejection at 9050 zone, short for target as 8300. 

Any break of 8300, we can see NF at 6400 / 6360 short term. That might be the final bottom for NF. 
This 6400 level can be seen in some weeks and not immediately unless some president dies of Covid-19 (news based).

Let see how we auction tomorrow. 

Side Notes:
1) ViX closed at 62.93, high at 63.44. Never seen these levels in my life time. I sense this might be the top for ViX short term. These levels might be visited later. 
2) Do not carry any position over night. Playing Intraday is the best for these types of market.
3) Sectors to watch reversal right now are Metals, PVT Banks and Cement stocks
4) Bottom is not made yet. 








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