07th May 2020 - Weekly Expiry!!

NF tried to break 9370, but failed. 9260 was holding but broke decisively, day low test was expected, might test today.

Volumes were unusually high (on the buyer's side). ViX was down by 5% closed around 41.25.

BNF was strong took support around 18900 and closed at almost highs.

NF VAs
VAH - 9355
POC - 9297
VAL - 9242

BNF VAs
VAH - 19782
POC - 19656
VAL -  19446

Hypo - 1 - If price opens above YVAH and break of 9370 zone will make price to drive higher to test 9500 / 9550 zone

Hypo - 2 - If price opens below YVAL, it might drive down to test 9120 / 9100 zone. Break of 9120 will lead to test of 9040 / 9020 zone.

Hypo - 3 - If price opens inside YVA below YPOC, on break of YVAL, it might drive down to test 9120 / 9080 / 9040 / 9020 zone.

Side Notes:
1) BNF was slightly more bullish compared to NF and volumes were high. This indicates we might bounce in some time next week.
2) Zones to watch is support at 9120, break of 9120 can lead price to 9040-9020 zone. These zones are important support levels. Any break below 9020 can lead NF to slide down to 8700 levels easily
3) On the higher side, break of 9370 stands crucial. Any break above it will make price to test 9550 / 9600 zone.

BNF Daily Profile


NF Daily Profile:

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