18th May 2020 - Weekly and Daily Analysis

Weekly Analysis

NF VAs

VAH - 9352
POC - 9085
VAL - 9040

BNF VAs

VAH - 19668
POC - 19236
VAL - 18612

NF is relatively weak, Weekly VAs has shifted lower compared to last week. This indicates NF weakness. Two important levels in NF are 9220 and 9355. These levels has to be breached for NF to head higher towards 9600 levels and break of 9600 zone will lead price towards 9800 levels. 

On the lower side, 9040 and 9010 is the support. If 9010 breaks decisively, it might the test 8930 / 8910 zone. If price break 8910 zone, which is the last support for NF to head higher, the sell-off will be fast and price can reach new lows.  


BNF is ultra weak, the VAs shifted much lower compared to NF. Important levels in BNF are 18900 / 19000 and 19240. 19240 has to be breached for price to test 19650 / 19700 zone. Below 18600, BNF can touch 18200 / 18000 zone


BNF Weekly Profile

NF Weekly Profile


Daily Analysis

NF VAs

VAH - 9132
POC - 9085
VAL - 9067

BNF VAs

VAH - 18852
POC - 18786
VAL - 18690

Hypo - 1 - If NF opens above YVAH, it might drive up to test 9210 / 9220 zone. If 9220 breaks with momentum, it might test 9350 zone. If 9220 is not broken, price might reverse to test 9085 / 9060 / 9040 zone


Hypo -2 - If NF opens inside YVA above YPOC, it might test YPOC, balance for a while and then bounce up, price might drive towards 9200 / 9220 zone.


Hypo - 3 - If NF opens below YVAL, it might test or come near YPOC and then drive down to test 9040 / 9010 zone. 9010 zone needs to be broken to test 8930 / 8910 zone.


Side Notes:
1) The Whole week ViX was trading between 37 to 39. It was mostly negative to flat. The gap-downs did not fuel ViX to spike. 
2) Anomaly at 9180 yet to be repaired
3) BNF has a poor low at 18650.
4) 15th May was also indecisive, market trend is not yet clear. Forthcoming week, any break of 9010 and 8910 will trigger a sell off. On the upside, 9220 and 9350 break is important.


NF Daily Profile


BNF Daily Profile

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