8th May 2020

NF opened below YVAL, opened exactly around 9150 and bounced towards YVAL. Most boring expiry after a long time. Total Balancing day. The Move either side might be strong which might come today or tomorrow.

NF VAs
VAH - 9227
POC - 9212
VAL - 9185

BNF VAs
VAH - 19566
POC - 19512
VAL - 19404

Hypo -1 - If price opens above YVAH, price might drive up to test YPOC (9300) zone and break above it might test 9370. Breaking 9370 is important for further upside towards 9550 / 9600 zone

Hypo - 2 - If price opens inside YVA, break of YVAH or YVAL, will drive prices to 9300 / 9370 or 9120 / 9090 zone respectively. Or expect another day of balancing between 6th May profile range.

Hypo - 3 - If price opens below YVAL and break of 9150 levels, it might drive down to test 9100 / 9050 / 9020 zone.

Side Notes:
1) Volume towards buying is high. Apparently FII has bought for a value of 19K Cr. FII and DII was buyers in yesterday's market.
2) ViX slides about 3% and closed around 39.
3) RIL gave a break-out above 1500. We will have to see today's opening and check if it is fake breakout or a real one.
4) In NF, any break of 9120 zone can lead price to 9040 / 9020 zone and break of 9020, can straight away take price towards 8700 zone. On the upper side, break of 9305 and 9370 is crucial to test 9550 / 9600 zone.

BNF Daily profile


NF Daily Profile














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