11th May 2020

Weekly Analysis

NF VAs
VAH - 9392
POC - 9330
VAL - 9232

BNF VAs
VAH - 19878
POC - 19632
VAL - 19422

The total range for the week was at all time low compared to the previous week. Most of the price movements were between 9200 and 9400.

Important reference for the week stands at 9370 for upside break towards 9600 and 9210 for downside break towards 9100 zone.

Weekly Profile of NF and BNF

Daily Analysis:

NF closed at lows on friday because of BNF weakness. ViX closed at 38.41, continuously declining after a huge jump of 30% on last monday.

NF VAs

VAH - 9335
POC - 9310
VAL - 9265

BNF VAs

VAH - 19950
POC - 19764
VAL - 19530

Hypo - 1 - If NF opens below YVAL, it might drive down to test 7th May VPOC. Any momentum break of 9210 zone can take price towards 9120 / 9100 zone.

Hypo - 2 - If price opens inside YVA below YPOC, it might drive down to test Y.Low. If opens inside YVA above YPOC, it might take support around there and drive up to test 9370 zone. Break of 9370 zone can trigger NF to drive up towards 9600 zone.

Hypo - 3 - If price opens above YVAH, it might drive up to test 9370 / 9390 zone. if the zone break we can anticipate price to test 29th April high which is around 9600 zone.

Side Notes:
1) Due to Reliance, ICICI and Infy, NF was relatively stronger compared to BNF. Any strong bounce in BNF above 19950 can trigger a huge upmove 
2) BNF has some singles from Friday between 19605 and 19500, another between 19425 and 19385. Use as Ref points.
3) If ViX continue to decline, we can see ranges contracting and slow movement of price. 
4) Any upmove in NF should be supported by BNF, else it will be short lived.

Daily Profile:





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