Daily market summary for NF and charts, data for NF & BNF -15Dec’20

NF left a 3-1-3 profile i.e, tail at ends and nice balance between tails. Clearing tail was expected to trend that side ; back into value area failing to scale/sustain tail = probe was for other end of value area/tail test.NF has done both the auction today. 13530-13550 was support zone and below that probe was for 13460.NF cleared 13530 at open and gone for this 13460 probe. Failed to sustain below PDL and later started accepting in value area of yday balanced profile and gone for VAH and above probe and closed at dPOC..

Same as yesterday, NF closed with dPOC skew of composite at dVAH..Buyers are holding edge better than yesterday as they got extension handle today at 13560..By holding around this, buyers could look for open drive/gap to move away from this composite in making.

NF has left poor value area today. If fails to get follow through above 13600 holding above extension handle 13560 zone, then auction could be for repair of poor value area till 13500 zone..

Price wise, 13550-13560 support for open to get 13610/13640 and further bullish above 13650 for 13690-13710.

Failing to sustain/scale above 13600 and back below 13550 could test 13520-13500/13460-13440.

Quite weak below 13430 for 13380/13350.

Charts and data :

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

Notes :

a) Check glossary page in website if any of the terms used in the post are not clear.

b) If images are not clear, click on them for enlarged view.