29th May 2020 - New Month, June Series!!

NF had a clean Continuation Open Drive move and closed at highs. But it tried to penetrate 9510 number of times but failed. June Contract was in big discount of 40-50 points.

For the first three days i will be using standalone June Contract due to premium change between Spot and Future.

BNF could not go above 19450, reversed and closed below 19200.

NF JUNE CONTRACT VAs

VAH - 9442
POC - 9425
VAL - 9387

BNF JUNE CONTRACT VAs

VAH - 19200
POC - 19038
VAL - 18942

Hypo - 1- If NF opens inside YVAL below YPOC, it might do some balancing moves and break below 9390, price might drive down towards 9330 and break of that zone will test 9280 / 9250 zone. Break above 9450, price can drive up towards 9500 / 9520 zone

Hypo - 2 - If NF opens below YVAL, price might drive down towards 9350 / 9330, and break of this zone, price might further drive down towards 9280 / 9250 zone. If 9330 does not break, price might bounce back towards YPOC (9425) and 9450 zone.

Hypo - 3 - If NF opens above YVAH, it might initially drive down towards YPOC. If it takes support around 9420, it might bounce towards 9500 / 9520 zone. If it breaks YPOC, it might drive further down towards 9380 / 9350 zone

Side Notes:
1) ViX is continuously moving down towards 27 zone. Closed around 30 (down by 4%)
2) After two day continuous trending days, NF might consolidate or balance around this zone. 
3) NF has a resistance around 9500 - 9520 zone, break above can make price drive towards 9600 zone.
4) one of the gaps were filled yesterday, there is another gap between 9510 and 9560 (In June Contracts)

BNF JUNE CONTRACT PROFILE

NF JUNE CONTRACT PROFILE


 

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