20th July 2020 - Weekly and Daily Analysis

Hello People, 

Posting my Analysis after a long time. I was really busy with my work and trading. Managing it simultaneously is quite tedious. Also, Jay was posting his views in Youtube which is too good, so i thought my views would be redundant. Anyways, will post the views, so that it will help me as trading notes.

NF and BNF Weekly Analysis

We had a indecisive Week until Friday, knocking off both bulls and bears on both the sides with good amount of volatility. 

IT stocks came to save the bull market. Only certain stocks like Reliance, HUL, Infy are supporting the bulls. Other stocks rally for a day or auction in sideways. Banks were subdued, did not perform at all. Not actually a money making week.

Lets deep dive into the weekly MP Charts

NF VAs

VAH - 10860
POC - 10790
VAL - 10650

BNF VAs

VAH - 21858
POC - 21708
VAL - 21264

  • This week Banks should start performing and NF might start being subdued due to RIL (might not go above 1940 and start correction below 1890)
  • BNF - Breaking 22170, Can drive BNF towards 22400 / 22600 levels. Not Expecting to break above 22750. That might be the maximum for this week. 22750 zone has some strong resistance and bulls need lot of strength to break. Break below 21800, can drive down BNF towards 21500 and 21400.
  • NF - The current zone is where market flash crashed back on March 5th-6th 2020. Again Bulls need lot of strength to go above 11,000 zone. 11000 / 11020 zone is strong resistance zone and price should break for further up-move which is towards 11100 / 11150 levels.
  • Even if Monday (20th Jul 2020) has a strong gap-up open, be cautious and trade nimble on longs. I am not saying market can crash right-away, but we should trade longs with small quantities.
  • NF - Below 10840, price can drive down towards 10760 / 10750. 10750 has some sort of minor base support, if that breaks, price can test 10655 (16th Jul VPOC) and quick sell-off towards towards 10540 is probable. 
  • ViX reaction on Friday suggest slow-down of price volatility, but possibility of ViX to pop-up towards 28 is probable. 
  • Price range for NF would be between 10500 and 11200 for the week
  • Price range for BNF would be between 21000 and 23000 for the week

BNF Weekly Profile

NF Weekly Profile


Daily Analysis

NF VAs

VAH - 10840
POC - 10790
VAL - 10767

BNF VAs

VAH - 21774
POC - 21762
VAL - 21558

  • Spike base formed in both NF and BNF in the last hour of friday, with no upward shift movement of PO or VAH. We cannot conclude that price might continue moving higher, even if we have a gap-up open
  • Best option for Monday will be to let price auction till 10.15AM, once the Initial balance is formed, either side break of IBL or IBH will fuel NF / BNF to give a swift move.
  • NF levels are - Break above 11020 (without gap-up) might drive price towards 11080 and 11100, break below 11840 can make price to drive down towards 11790 and 11760 zone.
  • BNF on the other hand was week the whole of last week, it might give some bullish moves before drifting lower. Break above 22170, can trigger a move towards 22300 and 22400. Break below 21775, price can drive down towards 21600 / 21500 zone.

BNF Daily Profile

NF Daily Profile


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