NF Daily Plan - 19th Feb 2024
NF on last Thursday made a higher close with some poor references left behind. Bias was that if it opens in range then odds of repairing those zones and then bounce towards higher prices. If open outside range then these poor zones could wait. NF next session open higher with a gap and gap held till closing. Higher value closing with narrow range and lower volumes at DVAL of the day.
Higher value session closing at DVAL is a sign of weakness and for bullish move they need to open above VAH of last Friday.
Now responsibility of buyers is to maintain the OTF up thereby holding the gap zone and pushing prices higher. Buyers unbale to do such activity may lead to closing of the gap and then below this gap then repair of poor value zones of Thursday could take place.
Bullish above 22120 towards targeting 22140/22200 levels. Break and hold above 22200 is towards targeting 22300/350 levels.
Nifty unable to stay below 21920 and above 21990 is towards targeting 22025/22080/22102/22120 levels.
Bearish below 21920 towards targeting 21870/21850/21810/21770 levels.
Nifty bulls unable to stay above 22120 and below 22100 is towards targeting 22080/22025/21990/21920 levels.
Higher value session closing at DVAL is a sign of weakness and for bullish move they need to open above VAH of last Friday.
Now responsibility of buyers is to maintain the OTF up thereby holding the gap zone and pushing prices higher. Buyers unbale to do such activity may lead to closing of the gap and then below this gap then repair of poor value zones of Thursday could take place.
Bullish above 22120 towards targeting 22140/22200 levels. Break and hold above 22200 is towards targeting 22300/350 levels.
Nifty unable to stay below 21920 and above 21990 is towards targeting 22025/22080/22102/22120 levels.
Bearish below 21920 towards targeting 21870/21850/21810/21770 levels.
Nifty bulls unable to stay above 22120 and below 22100 is towards targeting 22080/22025/21990/21920 levels.
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