15th May 2020

After a beautiful OAOR in the first hour, small IB, Price broke IBL and started falling down towards 9150 / 9120 zone. BNF was little strong compared to NF.  BNF was holding 19000.

Day type for both NF and BNF was Normal Variation day. 

NF VAs

VAH - 9282
POC - 9222
VAL - 9172

BNF VAs

VAH - 19272
POC - 19146
VAL - 19080

Hypo - 1 - If price opens below YVAL, it might drive down to test 9120 zone. break of 9120 zone will drive price down towards 9040 / 9020 zone. Break of 9010 zone, will lead price to test 8930 / 8920 zone. 
If price takes support at 9020 / 9010 zone, it might bounce up to test 9180 / 9200 / 9220 zone.

Hypo - 2 - If price opens inside YVA below YPOC, it might balance for a while and later it might test 9220 zone and reject towards YVAL and Y.Low. 

Hypo - 3 - If price opens above YVAH, it might drive down to test YPOC and then bounce up to test 9300 / 9320 zone. break above 9320 zone, price can test 9340 / 9360 zone.

Side Notes:
1) Even at this gap down move, ViX was flat to negative 3.5%. Closed around 38.18 (-1.7%), indicating PE writers are strong at some strikes. 
2) The price auction happening on 15th May will decide, if there is going to be a huge sell-off or mean reversion auction
3) Reliance is weak and not supporting NF. Any bounce has to be supported by BNF. below 19000 it can test 18650 / 18600 zone. if price breaks 18600 zone, big trouble for both NF and BNF.
4) Anomaly there at 9180 zone. Need to be Repaired. 
5) Monthly POC at 9010 - Imp Ref Level
6) Ref level for tomorrow for NF are 9120 / 9020 on the downside and 9280 / 9300 on the upside.

BNF Daily Profile
NF Daily Profile





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