Daily market summary for NF and charts, data for NF & BNF -04Dec’20

NF had a FA at top and had nice balanced profile on Thursday. Imbalance away from that profile was the expectation for next session. NF opened above PDH negating FA zone it has left in previous session which was bullish. Acceptance above 13220 was expected to get fresh leg upside till 13290 then later towards 13350. NF had a open rej reverse up after negating that FA and had imbalance move up till 13290.Then, had a one time frame up down to test tail zone and failed to sustain in tail zone and gone for spike higher into close.

NF printed 5th day of one time frame up and it negated probable island and FA left in previous session. Buyers are going strong.

We had a spike into close. Spike rules apply for next session.

13297-13326 spike zone.

Staying above 13297 with value = bullish

Acceptance below 13297 = weakness

After today’s auction,13220 becomes good swing support now to get a move towards 13480. First sign of weakness now below 13250 and confirmation below 13220 for a balance. Till then buyers could take this further up.

For next session, 13290-280 is support zone. Holding above this zone, could look for balance in 13290-13365 zone roughly and acceptance above 13375 could take it to 13410/13450-13480.

Weak below 13280 for 13250-13230 and quite weak below 13220 towards 13170 if sustains then could move towards 13120/13080.

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Data

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