13th May 2020

NF made low around 9038. NF opening was a beautiful open test drive down and BNF had open drive down. 
Initially RIL and BNF was driving the markets down. 
NF had a strong support around 9040 and 9020. Price bounced sharply with help of BNF. BNF tested the VPOC around 18228.

The day for NF was Normal Variation day and for BNF it is almost Neutral extreme up day (150 points gap between day high and closing). 

NF VAs

VAH - 9155
POC - 9097
VAL - 9040

BNF VAs

VAH - 18630
POC - 18348
VAL - 18228


Hypo - 1 - If price opens above YVAH, price might drive up to test 9300 / 9350 / 9400 zones. Any break above May 11 high (9440), price will test 9600 zone. Breaking 9600 is crucial, any break above 9600, price will test 9800 / 9850 zone

Hypo - 2 - If price opens inside YVA, price might take support around 9100, and bounce towards 9350 / 9400 zones.

Side Notes:
1) If you noticed, Even when markets were falling, ViX was flat to negative 2%. There was no spike in ViX and 9000 PE writers were strong. As per MP, 9040 - 9020 support is damn strong, in the future any break below this can make price to test 8700 / 8600 zones. 
2) Even though RIL was falling, BNF started supporting the up-move, which is more important. The upward move was strong. 
3) Ref Levels for today will be 9490 and 9600 on upside, 9180 and 9140 on the downside. 
4) Singles formed between 9180 and 9150.
5) Anomaly at 9380 yet to be repaired. 

BNF Daily Profile
NF Daily Profile

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