29th Apr 2020

NF Closed on a strong note. Closed at highs. Broke 9385 decisively. We will be looking for follow through auction for price to drive up to 9530 zone. The open type was Open Rejection reverse and price sharply reversed without breaking IBL. Potential COD setup.

NF VAs
VAH - 9360
POC - 9315
VAL - 9272

BNF VAs
VAH - 20574
POC - 20370
VAL - 20280

Hypo - 1 - If price opens above YVAH, it might test 9340 zone and bounce upward to test 9500 / 9530 zone. If price breaks 9510 with momentum, then it can further move up to test 9580 / 9600 zone.

Hypo - 2 - If price opens inside YVA and above YPOC, it might balance for a while and later it might take support around 9330 and drive up towards 9500 zone. If price tests and breaks YPOC, it might drive down to test 9230 / 9200 zone.

Hypo - 3 - If price opens below YVAL, it might drive down to test 9170 zone.

Side Notes:
1) As expected, ViX is moving down towards 30 zone. NF might slowly move towards 9600 zone. We will have to see how we further auction today. opening above or near to YVAH is important for follow through.
2) 9330 zone has to be held for price to drive up further. any break in that zone, will trigger price to mean revert towards 9200 / 9170 zone.
3) Keep March 16 weekly profile for reference. 9530 / 9570 / 9610 are the important zones for further upside.
4) Potential COD setup. Lets see if we get a follow through open.
5) Long triggered in NF above 9385. SL 9330 for Target 9530 and 9570.
6) BNF is much stronger and has potential to touch 20900 and 21000 zones.






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