Daily market summary for NF and charts, data for NF & BNF -01Dec’20

NF had a neutral day as well as 3-1-3 profile in last session and tail zone was ref to look for a trend..NF had a open test drive up failing to sustain below VAL/buying tail zone at open and gone to accept selling tail at top post IB period..It was sellers who had to act after VAL close on neutral day and they failed to sustain below VAL today.Above 13030 probe was expected for 13120 then 13165/13185..NF probed 13165 and left poor high and closed above dPOC.

NF had a large buying tail and extn handle and was almost on making a trend day then by close left a poor high and closed above dPOC..Auction yet to complete and we dont have secured high yet.

After today's auction, 13090-13110 zone is immediate support for next session and 13020-13060 zone (extn handle and tail zone) now becomes good swing support. Any test in this zone in next few sessions could see demand showing up. Till this zone gives up, trend could be sideways to bullish.

Auction above 13120 and not able to close as trend day left a poor value area. If we get a inside range open, could expect value area repair before next move.

Price wise, holding 13090-13110 could see a fill in 13110-13170 zone and could extend higher above 13170 till 13210-13220 zone. Quite bullish above 13240 for 13290/13350.

Weak below 13090 for 13065/13040-13030 zone and quite weak below 13020 for 12990-12975/12925-12900.

Charts and data :

Detailed plan with refs to carry forward, trade hypos and nuances from the day are available to members.

Notes :

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