BNF Monthly Profile

In the aftermath of a near-vertical fall of 4500 points in BNF, a bounce of 900+ points from the lows is hardly noticeable! Yet, the fall today was anything but tentative, with the profile not wider than 3 TPOs at any location, indicating a highly aggressive selling activity.

Despite this significant drop, there are singles only in the D period (48480 - 48680), which will act as a source of supply/resistance going forward. The markets closed below the back-to-back monthly POCs (47580 - 47735), suggesting that BNF will face considerable resistance in clearing this zone.

It's noteworthy that BNF bounced before reaching the psychologically critical zone of 46000, which also coincides with the Mar'24 POC. This indicates strong support at this level.

Hence, unless we see a continuation of bad or ugly news or get a euphoric news, we can anticipate BNF ranging between the 46000 - 47500 zone for some time. The market moves will be highly news-driven, and the stark contrast in market behavior between Monday and Tuesday offers a great example of the adage "Greed has no resistance and Fear no support." With today being BNF weekly expiry expect the unexpected!

Have a great trading day ahead!

Safe traders can book at the given target, while risky ones can carry some positions to the target of 22,300

tsl at 21900(risk is almost negligible)
once target hits move your sl to cost

target easily achieved❤️

target 2 done🚀

7.4% up

The single print zone 48480 - 48680 is eaten! Amazing show by bulls!

Crude has selling tail on top, and poor low at 72.80. Keep an eye on 73.2. Break of this zone can see sharp down move

Crude, super hot!
Touched 73.08!

Sustaining below 73.0 can see clearance of AB poor lows at 72.8 and 72.6

#Nifty my view

#Banknifty same view