21st May 2020 - Weekly Expiry

NF took support around 8925 and bounced towards 9050 / 9100 zone. Closed at highs. BNF also supported the up-move and closed at highs.

NF VAs

VAH - 9030
POC - 8957
VAL - 8925

BNF VAs

VAH - 17766
POC - 17556
VAL - 17466

Hypo - 1- If NF opens above YVAH, it might drive up to test 9120 / 9160 / 9200 zone. Any rejection around 9200, can take price toward YPOC. Break above 9220 zone, price might move towards 9350 / 9400 zone

Hypo - 2 - If NF opens inside YVA above YPOC, it might balance for a while, break above 9030 zone can take price towards 9130 / 9180 zone. If YPOC tests and doesn't reject, it might drive down towards 8850 / 8820 zone.

Hypo - 3 - If NF opens below YVAL, it might drive up to test YPOC and if POC rejects, it might drive down towards 8765 / 8700 zone. 

Side Notes:
1) ViX fell around 8% and closed around 35.81. 
2) VAs shifted little higher
3) NF and BNF is still weak in-terms of price. Needs to break above 9220 and 18800 to become bullish
4) Today open is important for potential COD. Further price auction will decide the trend for rest of next week.

BNF Daily Profile

NF Daily Profile


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