Daily market summary for NF and charts, data for NF & BNF -17Nov’20

NF printed a outside day on Friday with less than average volume..For a momentum from outside day, buyers had to get quick follow through and higher value from outside day auction and NF got the same today..It had a clean gap up but could not sustain and follow through from gap..It has gone for balanced profile with higher value and closed above dVAH.

Clean higher value day with secured ends at both side and closing above dVAH..Buyers advantage again.12820 becomes immediate good support now and 12765 for swing after today's auction.

Second day of lower volume than average hence important for buyers to hold 12820 VAL zone and look for another higher value/higher overlap day..

Left a poor value area in today's narrow range auction. Failing to get early follow through upside and open auction in the range means, could take care of repairing value area of today's session before making next move.

Price wise, failing to sustain above 12890 could test 12860 and then 12835-12820.Weak below 12815 for 12785-12765 and quite weak below 12765 for 12720/12680-12650.

Failing to sustain below 12840 could bounce back to 12870/12890 and bullish above 12890 for 12920/12950-12960/ 12990.

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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